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howdy everybody brian here quantlabs.net uh it is uh tuesday sorry thursday march 17th uh 2 43 a.m i want to talk about this big news i think in the last few days on how bill gross bond king has entered and has gone all into crypto uh just you'll see this one of these articles is four so this is just my response to what i think and um let's go over them all right here's the first one at uh we got i think it's three or four articles so this is the first one bitcoin rallies as south korean president and did i get this right yeah i mean let's put this this new president in korea is very uh crypto friendly i mean it's the way in the world right anyways let's go on to it there's a proper article the street the street.com bill gross king of bonds and prominent crypto credit invests in bitcoin okay so this is march 14th three days ago so going through this um i do know he was poo-pooing it a while back here is the article i want to talk about after the hedge fund funder ken griffin of citadel let's pull up that article at the same time billionaire admits he was wrong about bitcoin and crypto these are the leading money managers and i believe even blackrock are getting into crypto so this is the way of the world uh everybody's getting into it institutional but the problem now is there's so much institutional capital in crypto and bitcoin and whatever else it's tied back to the performance of economic news macroeconomic news performance of the stock market and it no longer has its independence because of that it's it's tougher for mainstream people i guess you could say to trade in crypto just my opinion here so here it is for the past few weeks bitcoin has been scaring scoring victories on this front crypto no longer seen a bad light by the abiding men um presidential executive order and all that cover that um but we know about this revival of the digital dollar central bank digital currency as well so it's going to change everything as we know it when it comes to traditional currencies i simply think that you know crypto coins are a bubble he's right and we've seen it come and go individual with each coin i've just put up another article from my members on my crypto analysis membership you need that my store quan labs.shop here and then i think we need to do an alternative to the dollar as we've seen the last week or two that you know there will be several survivors and i'm invested to a small extent in bitcoin so i think it's kevin o'leary's 20 so it's small amounts and the way it's looking um yeah a lot of these coins will drop off a lot i'd say 95 at least over the next year um i i've shown chart after chart the week performance so he's not a fan of nfts neither am i there's really no fundamental i guess it's a young person's game he's been trying to choose among the winner of the new finance and if he seems to believe in bitcoin this is not a case for non-fungible tokens the phenomena of nft is the same way it reminds me of when my kids were collecting beanie babies that's very true so he's 77 been doing pimco where he found it in 71 and it's pretty well been in the financial world in 2014 he left the firm don't know what he's been doing lately he's happy in retirement the young retiree gross was initially open to bitcoin bitcoin privately upon blockchain technologies amongst a small set of global banks just a few examples of attempts to stabilize the value of the current assets in future purchasing power over in terms gold would be another example historic relic that in any case the current system is beginning to be challenged that's very true about gold because gold uh is so suppressed it should be like if it was really not manipulate that it is by like global bank and hedge fund trading desks gold should be at least three times more valuable than it is especially you know for um a precious metal uh and the demand for it as we are moving into an inflation period higher interest rates uh and so on you think gold would be spiking like a lot like double tripling in very short period of time not really a currency alternative at the moment yeah it's not a current currency alter at the moment told bloomberg tv buying a bag of groceries at the grocery still store is still going to be difficult i think that's already underway as maybe he doesn't know because he's got so much coin but food delivery is getting big and if you can accept paypal why can't you do it with claim uh with crypto and from the merchant's side all you say i want a hundred dollars for this product or this apple or whatever and you say okay i want i don't know five dollars for five apples i don't know whatever something like that and the price you pay in crypto will always be pegged to that whatever equivalent in let's say us dollar and whatever the crypto value is for the day that's what you pay the problem is as you know the volatility is too crazy right now um bitcoin would also be an alternative investment in times of the economic crisis personally i'm not seeing that right now because as i said it's tied back to the stock market performance it's been proven crypto has been one of the great stories in finance over the course of the last 15 years and i'll be clear i've been in a naysayer camp for over uh that period of time and how so was i but now done okay in crypto but the crypto market today is american capitalization of about 2 trillion in round numbers which tells you that i haven't been right in this call boom i have a tiny percent of on it on my portfolio diversity billionaire and hedge funder ray dalio said in february last month um i guess these are other stories here uh amc the volatility on these options i'm dealing with so this is gamestop yeah so we'll leave it out like gamestop stuff but that's one article next article this one's found at bazinga it's harder to find articles that are free online without needing to subscribe with your email and pay for it it's getting so bad now harder to find articles especially on google um let's see what else has been said so the survivors the street reported so we've already done that report on from the street um uh okay so i do think we need an alternative to the dollar and we've seen the last week or two as you know that there will be several survivors and there will be quite a few uh crypto blockchains out there as i've already done a webinar on web3 namely something like ethereum uh but he also said 2017 to bloomberg bitcoin prices go up and down to its limited supply but it can't be a substitute for currencies of gold in times of economic distress um 2018 at davos uh see is that article done yeah looks like it's done so there you go uh i agree with them nft is no good i mean there's a dwindling in this interest in that anyways from what i'm hearing or what i'm showing as well as bitcoin and ethereum seems to be still out there event heavy interest with all these big investors out there if you're into this you want to know more get on my quantlabs.net contact newsletter join there and get in on some other stuff we got going on mainly around crypto among other things thanks for watching
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