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Bitcoin was in the middle of a record run that would take it to a high of almost $20,000 a coin but Bitcoin was a turkey this Thanksgiving falling to a 20-18 low of 34 47 on Sunday today it is still down 80 percent from that December 27 teen high let's bring in brian kelly the founder of brian kelly capital and a fast money trader beakers good to see you hey good to be here you know as much as we're hand wringing over this huge decline you sent over a chart which basically says we've seen this movie before can you walk us through this chart yeah sure I mean bitcoins since 2010 from 2010 to 2012 and then 2012 to 2014 saw very very similar moves we saw a huge run-up just like we saw this time last year and then a sell-off again and it repeated itself and so we're through that now it doesn't feel very good as an investor it certainly doesn't feel very good but I think people need to remind themselves that this is the most risky thing you can do with your money it is cutting-edge technology and it'll be extremely volatile does this sort of decline does this help or does this hurt the move of institutional investors into this space because that had always been cited as a catalyst an institutional money will come into the space when you see a decline like this one that we're living through right now does that make him an institutional investor say hey you know this is a it's a bargain now or does it make them say you know what this just shows how volatile this asset classes and I want no part of it yeah it's interesting that's a great question because I thought we would see at least from my perspective and our fun we'd see a lot of outflows what we seen from institutional investors is more interest than we have in the last couple months when we are around 6,000 institutions said hey listen this thing's gone through a bear market it hasn't gone away I need some exposure down at these levels it certainly probably looks a little more attractive but importantly what institutions are doing are sizing it appropriately one to five percent of their portfolio is coming into this asset class so when you talk to these investors who are interested in Bitcoin now how do they how are they viewing Bitcoin because there was a case where it was a store value I mean an asset that goes from 20k to 3400 it's hard to say that that's a store of value with that sort of volatility others will say it's a it's a it's a means of transaction it's an actual currency but if you are to believe that they're more if there are more transactions and the more bitcoin is use the price should go higher - it's hard to make that argument as well so when they're investing in this what what is it in their view so there's two things that they're investing in number one is Wall Street 3.0 where we've gone from securitization to tokenization and that's going to be a five to ten year process the second part of it is web 3.0 where we're removing the kind of tracking mechanisms that Facebook has and creating a new web where the user controls the roll data those are the two big mega trends that institutions see that they're investing in here now in terms of the store value something that goes from twenty thousand or three thousand I don't think there's any buddy's gonna argue that that is a great store of value that being said what's interesting even in this decline we've seen transactions go up over the last few months we've seen the number of transactions increase on the Bitcoin network which to me says hey this thing's still being used as some kind of a medium of exchange what if any individual investor should buy Bitcoin and how should they do it that's a great great question Tyler because I love you I think everybody should have some piece of cryptocurrency a Bitcoin in their portfolio but again it's needs to be a really small portion of your portfolio let's say 1% if you put 1 percent of your portfolio into this then you can ride out the bear markets and that's why I sent over that chart from 2010 to 2012 2012 to 2014 we've had two booms and busts prior to this one and you can ride it out so if you're the one who said hey back in 2014 boy I wish I bought this thing at $300 maybe you're getting another shot right here all right Bryan thanks so much for your time you
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