 Welcome to Digital Asset News, the top stories in cryptocurrency and digital assets, and a big amount of bite-sized pieces. Today we've got some revealing articles. First up, JP Morgan is telling its private wealth clients that Bitcoin is a great diversifier. So we're going to take a look at what they've been saying to their special clients and privates and what they've been saying in public. On top of that, I just want to do a real quick overview of what our friends over there at the Alex Masioli channel at Trade the Chain, we're talking about yesterday and it has to do with F2 Pool, Jerome Powell's comments, and Ryan pretty much getting all out of cryptocurrency. So interesting things. We'll take a look at those, but first take a look at what's going on the market. So first up, as you notice, there is no pool in the background. We are in Houston doing some work on our new investment property. So if you hear some things going on the background, disconstruction work, no big deal. But these are the things that we have to get through because life goes on, business goes on, you just got to be pushing through. All right. So here's what we got for today. First of all, today is March 6th, Saturday. It's a high noon Houston, Texas time. And here's what we have. So let me first of all, let me blow this up so I can see what the heck I'm talking about. So we've got Bitcoin doing okay, but still well below that 50,000 mark. That's what I think is like a mental barrier as that now at 48, 3. So a little bit of a gain, but not by much. It says 1%, but I could have sworn we were at 49, 2 yesterday, but I know you're going to correct. Correct. Check me in the comment section. Ethereum is up 9% in the last 24 hours. And we're looking at 1600. Tether is tether. Nobody cares. But interesting enough, Cardano has fallen into that number four spot. And it's very odd because there's been nothing but great news. And again, like I always say, has anything changed? Has the fundamentals corrupted? Has there been some huge hack as somebody come out and said, surprise, blockchain is created by Hugo Chavez or something? No, it's all the same. And actually, we're doing, I mean, the crypto market is doing pretty good things in the background. The Binance coin, Polkadot, everything's up a little bit except for Cardano. Again, no good reason why, but that is what it is. So pretty good day. If your dollar cost averaging to buy more, I did myself. Doge looking at look out 3%, nice. Ave up 3%, 2% and then down. That's the in the last 24. Well, one arrow and I owe it up. And that's not so big. 3%. So yeah, same old stuff, same old stuff. Let's take a look at the sentiment range, see what's going to be within that 90%. Holy smokes. What is this? Digital note. I have no idea what this is. This is, of course, for the chain sentiment analysis, does a lot of scraping of the web, one of four integration into Twitter. So digital note might want to look at, there's no way. Plus 46%. All right, loop ring plus 6%. And just so you know, these three numbers here, this is what it will vary in between its dates, but that middle number in the next hour, they're 90% accurate with that. So if you want to look at that, it's a link in the description. Let's just jump into today's top story, shall we? All right. So this guy right here, this is interesting. It's interesting because, you know, JPMorgan for the longest time, remember Jamie Dimon, CEO of JPMorgan, told all of his traders and all the people they work with, he goes, if I catch you trading Bitcoin, I will fire you on the spot. And of course, you're like, well, you know, maybe it's just a real hard ass. And that's how he is. But behind the scenes, a little bit different. So and as time has gone on, this, when this happened, this was in 2018, there was a 19 somewhere around there. But behind the scenes, they were telling their clients a little bit, something different. Maybe they were buying a little bit in the background. Now they are a publicly traded company. So you have to watch out these types of things. But I never believed that JPMorgan was like, nope, this is not going to happen. It's not going to work. If it makes money, it makes sense. And I think that is what they will always look into. And especially crypto currency, digital assets. So what do we have here? So JPMorgan, of course, telling his clients, hey, you should put, you should buy some Bitcoin and crypto. Well, what do they got? JPMorgan private bank has distributed an educational deck to clients to help them understand the basics, risks and potentials of Bitcoin and crypto. Great. So to their clients, whichever, they want to distinguish them as far as like value or whatnot, they said, hey, here are some slides. Here's a slide deck. This is what we want you to take a look at. This is what we think is going to be pretty big as far as diversification. The deck was prepared in February and distributed last week in Europe and Asia as Bitcoin's price rally has drawn attention from financial institutions and investors. And this is one of those things where I always was, it didn't make sense to me for a little bit. And it was actually Mike Novogratz who had a pretty good statement. And he said, look, if you're into some type of asset and you're trying to get it at, you know, when it's really cheap, that's great, but it's very risky to do those things. So you never know what it's going to do as far as like go up or down. He goes, but when it starts to really start to rise up and he says Bitcoin specifically, he talked about it in March, he goes, you know, it's going to go up. You just don't know when it's going to go up. He goes, so when people start to see it really take off after, you know, weeks and months, it has to really start to roll up. He goes, it's not as risky as when it was down in the 5,000, 4,000 range when it dropped like, you know, 70, 60, I think it was like 40 or 50%. And I was like, yeah, I guess that makes sense. I mean, you're not going to get the gains, but it's not as much risk because everybody's going to pile in. And if you look at the mentality of FOMO, there was a survey that was just done actually, and a lot of people that are getting crypto right now, they have no idea what crypto is, like no idea, but they know it's going up and they want to buy that. So if you're just looking at herd mentality, then sometimes it's pretty good just to ride that wave and then get out before the whole wave crashes. But again, this is not financial vice, just entertainment purpose, so anyhow. So this was given to their financial institutions and investors. And this was this part was interesting. It says under the so-called Metcalfe's law, I really didn't know much about Metcalfe's law instead of until Pat Ackerman came along. Pat, thanks so much. And he was talking about Celsius and Voyager and how, you know, the more users you have and the better utility, the network effects and the more, of course, the value of the token will rise. So Metcalfe's law, they actually reference it here in the slide deck. And I say the value of a network is proportional to the square of the number of users. So if you want to take a look at that, as far as Bitcoin, just take a look at all the wallets and then just multiply by that. So Bitcoin's per coin valuation, just looking at wallets, would be about 21,067. Not that, right? It's double that right now. But they state if comparing the current global value of gold to Bitcoin using the 21 million max supply of Bitcoin, then Bitcoin's valuation would be half a million dollars or 540,000. And finally, if applying the global value of money supply, the max supply of Bitcoin, it's probably 1.9 million per Bitcoin. So that's pretty great. So again, take these numbers with a grain of salt. Don't think that Bitcoin's going to go to half a million tomorrow. It's not. Don't think it's going to 2 million tomorrow. It's not. It's a slower game than that. And a lot of pretty smart people think it's going to a million. Jesse Powell over there, the CEO of Kraken says it's going to a million and beyond. But I've heard that same song and dance when I got in 2017. And I do not believe it right now. I think it can go to 150,000 this current bull run. Maybe the next one, I could go up much higher than that. But I am reluctant to go beyond those conservative numbers because that's just who I am. And you know what? I'll tell you this. Between me and you, I'd be very happy if I'm wrong. But I mean, if it goes to 300,000, I'm like, hey, I was wrong. Fantastic. All right. I finished this article up. It says Bitcoin is diversifying, but it's not a protection asset. Sure, I guess so. And it says Bitcoin is not gold, nor do we think of it as such. I don't think of it as gold either. I think of it as gold 2.0. Because it's a great store of value. You can move it to anyone, anywhere in the world within 30 minutes or less. It retains its value. It used to cost a nickel, now it's cost $50,000 or so. And that's why I heavily invest it into it. So as far as gold, retainments, and then moving things, I can see that. When it comes to portfolio construction, it has diversifying properties like gold. Yes, it does. But it's volatility, characteristics, and correlation profile, refute the comparison to the traditional safe haven asset. And I will say this, and that's pretty much it. It goes through some more stuff, but I almost fell asleep reading it. I will say this. All these things that it talks about and about, well, it's not really gold. It's not gold. It's not as stable as gold is. But we got to remember that. Gold goes up, and gold goes down. Bitcoin goes up and down as well. It just goes up and down a heck of a lot more. So it will still retain the value, but the fluctuation in the volatility is going to be pretty great because we are in price discovery mode. Once we kind of hit this equilibrium, remember there's only $21 million, and it's being gobbled up by some big players. But once we hit it, I think it's going to stay like that for a long time. Anyhow, let me know what you think in the comments section. It's just interesting to note that JP Morgan is finally coming around. They were the biggest critics. Now we could just get Dr. Doom Robini to get in our side. Then I know we've got a heck of a bull run. All right. Let's move on to our next piece. So next up, the gentleman over there at the Alex Masioli channel and trade the chain. They had some really good segments, and yesterday was just straight fire. So Ryan, he's in the, let me blow this up so you can see it. He's in the bottom left-hand corner right there. Ryan there just sold all of his cryptocurrency. He's a big crypto believer, and he said he only owns Doge, and I think he's just holding on to it for, you know, because he thinks it's going to be the moonshot. And he's not, doesn't really think it, but I think he's like, well, who knows what could happen. And he makes some pretty good points. But what they were talking about yesterday was pretty good. CJ up there in the top right, he was saying a couple of great things. First, he was talking about F2 pool, because everybody's been talking about F2 pool and how they're dumping Bitcoin. He goes, it's ridiculous. He goes, not that it's ridiculous that they're dumping, he goes, but you have to understand, he goes, what's in global circulation compared to what is going on with how much they are dumping? It is infinitesimal. It doesn't really matter so much. He goes, so when they dump some things, he goes, don't think it's like the end all be all, and that's the reason why things dump. And he made a couple of good points. But I think it's like this. First of all, I think CJ is a right smart guy. But I think that smart money will look at what's going on and go, oh, you think that F2 pool is causing the big dump, and you're going to blame it on them? Well, cool. What I'll do is I'll just go right behind them, and I'll dump my Bitcoin, and I'll sell it, and then I'll wait for everything, all the retail investors to freak the heck out, and watch it just go down, and then I'll buy it back in, let it raise up, and then F2 pool dumps again, and I'll piggyback on them. And then he gives a great point about the stock market crash in 1929, where there's a gentleman, I forgot his name, he shorted. During that time, it made like millions and hundreds of millions of dollars when millions of dollars was like millions of dollars back in the day. And he said, you know, it wasn't him that did that. He goes, it was the panic, and it was the fear, and people, you know, bum rushing into the banks and believing that there was going to be a run in the banks, and there was. He goes, so it's just a mentality. So they talked about that. That was pretty interesting, you know, how they go, or how it came to that conclusion, because F2 pool, everybody talks about it. I don't think it's the end all be all. And again, I don't think anything's the way to change. Fundamentals are still the same. Talked about that. Jerome Powell's comments, the Fed chairman where he comes out, and he said something interesting. He goes, you know, because Jerome Powell came out and said, hey, we're not going to, you know, change anything. Essentially, we're not going to raise the rates, but people were expecting them to lower the rates. And just because of them not helping the market, the market took a big tumble. And I'm like, well, how weak is that that you need this guy to come on and go, hey, we're going to drop the rates so much to help you all out and buy everything back. I'm like, what a weak market. What a weak bunch of people to just say, oh, well, you know, we're not going to get this, this, this huge help from the government. It's amazing to me that everybody complains about the government until the government doesn't come through from like government. If you need the government to prop up your paper mache market, then what is it all about? Anyhow, so there was that piece. I thought it was pretty interesting. And then Ryan here made some in the bottom left-hand corner, made some pretty great comments about Michael Saylor. And he says, he goes, look, and this is, this is my opinion too. People always tell me, Rob, you understand, Mark is different, all the institutions in there, Michael, so never sell. Elon Musk will never sell all these places will never sell. Well, first of all, I believe Grayscale will never sell because they will never sell the Bitcoin because it's in their, their charter. They can't sell it, right? And Michael Saylor can do whatever he wants to because he owns the majority of the shares. But when you have these big institutions where they have shareholders, you better believe if Bitcoin takes a dump to like 40, 50% and that tanks the stock price, people are like, hey, you work for us, pal. So you better start selling some of that Bitcoin that you picked up, which is now becoming worthless. We don't understand it anyhow. And we were just going along for the ride. So sell it. I think institutions will still sell. And this is the same thing that me and Alex, who was laughing his head off here in the top left hand corner, we believe it. But Ryan here talks about how he goes, look, he was Michael Saylor, he goes, and he made some pretty damning. And they, they were true comments about him. And I'm just going to link this video at the end talks about Michael Saylor and, and the kind of budget that he has for, for his safety and his security budget, how he kind of spends a little bit frivolously, how he made a hundred million dollar pledge for a global college that would, you know, teach everybody everything that just kind of went to the wayside. And he talks about how his company is really just a data scraping company for Facebook. These are Ryan's comments, they're very, very good. So, and any, so he talks about that. And then he, he made a good point about the stocks, the stock of MicroStrategy going down. It was pretty, and it was right. He's right. So if we take a look here at the MicroStrategy stock price, two things come about. Well, first of all, I mean, you had an all time high here on February 9th of 1272, but look back here. It was like 150, 140, once around, around here where they started to, some 18th, no, I think it was back here in August, when they started to buy up, yeah, when they started to buy up Bitcoin, then started to go up here. And then as they bought more and more, then all of a sudden it really just took off. Did it end, did it have anything to do with the company making a new acquisition or them, you know, getting some kind of new huge contract or something? It really was. I don't think so. I could be wrong, checking the comments, but it really all became down to Bitcoin. And that's when the price went to the roof. Now look what's happening. And then Ryan even talked about it. He goes, look, he goes, every time Michael, Michael Saylor would buy Bitcoin, the price would shoot up. He goes, but just a couple of days ago, he bought more Bitcoin, a good amount, didn't move the price whatsoever. He goes, so what do you think is going to happen later on? One thing to consider. And then if you really want to, I'm going to take a line from Diddy. When in doubt, zoom out. So let's take a look at the one year. And you're going to see here, let's take a look at five years. I didn't look, I guess in five years it was doing pretty well at 187. Then a drop down 2018. And it's been creating pretty sideways in the traditional market around 130, 125. And then of course, go from 125 up to 1200. And now to be currently at 620, but still from 120 to 620, really, what are you, 5X there, somewhere around there, but 5 to 6X, 5.5X. That's still pretty good considering the company didn't do anything remarkably different. And that's what it is. But go ahead and check out that video, I'll link at the very end. And Ryan's got a pretty good thesis about why things are going to go down and crash. And that's why he sold all his crypto. Me, personally, I'm hoping Ryan's right. I'm praying that he's right, because guess what? If it does crash, I don't think it's going to last that long. I think it'll be pretty steep, because people will panic and flip the F out, and they will sell like crazy. And with you sell, I will tip my hat to you. I will say thank you so much. And I will buy the crypto that you have sold and give it to me at a very market reduced price. So thank you if you do that. That's it. All right. So hey, thanks for sticking with me through the whole video. If you liked the video and you found some knowledge into it, give it a thumbs up. It really always helps. Also, if you like these types of videos, go ahead and subscribe. A lot of things we talk about are time sensitive. And that is it for today. So thanks for stopping by. Appreciate it. And I'll see you on the next one.