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all right today let's jump into it warren buffett the greatest investor of our time i think has of course made some pretty amazing statements toward bitcoin we're gonna break all that down and also where is bitcoin going is this pre-fed timing going to damage bitcoin in a big way or are we gonna see a nice recovery bump off that we're gonna cover all that today my name is paul barron welcome back into techpath let's get into the news of course and this is uh all about mr warren buffett there's some strategies here that he has taken and i'm also going to do some comparison because i want you guys to kind of see his performance versus bitcoin we'll show all that give you guys some sentiment and some update data on bitcoin again remember not investment advice when we do these market movers the main thing is we're giving you guys insights a little bit of data from our own cpi the best thing is it's going to get you moving in the right direction but it's up to you of how you play your money all right let's get into it warren buffett said he wouldn't buy all of the bitcoin in the world for 25 bucks it doesn't produce anything among any many companies that i do know that don't produce anything but this is an old line investor that has really kind of taken i think a little bit of a line in the sand position and unfortunately anything anytime you take a line in the sand position it just does not play well in the end it never ages well for sure uh and if you look at just some of the things right here michael saylor kind of bumps back and says hey wait a minute i'll buy all your bitcoin for 25 bucks again i think just people are starting to really kind of get a little bit fed up with the approach that monger and warren buffett have taken in terms of digital assets in general and kind of how they've approached it overall some of the things of course elon is out there here's mark anderson uh andreessen's saying it's so wild he says stuff while nakedly shilling diabetes i like that one but here's the here's the quote that everybody got upset about and then of course there's elon jumping in and saying yeah he says bitcoin like a million times probably you owned all of the bitcoin in the world and you offered it to me for 25 i wouldn't take it because what would i do with it i have to sell it back to you one way or another i mean they have the same people but it isn't going to do anything the apartments are going to produce rental and and the farms are going to produce food and if i've got all the bitcoin you know i'm back where whatever his name was who may or may not have existed was you know 15 years ago if i've got it all he could create a mystery about it but everybody knows what i'm like i mean so if i'm trying to get rid of it you know people will say well uh you know why should i buy some bitcoin from you i mean why don't you call it buffer coin you know make your own or somewhat do something but uh so you see i mean he really kind of does not understand how digital assets are really put together i think when you look at the evolution of technology and how it's going to be used in the very early stages of technology it's often approached just like what warren buffett buffett approaches it with and that is why would i need that why would i use something like that instead of something i've used for the last 20 or 30 years this happened in the age of the internet it happened in pre-social media this happened in pre-mobile all of these things have occurred before and the only difference is is now we're edging in on web 3 and the evolution of what crypto assets will be and what that means to the world and he does also make some statements around it also being evil and that is because it undermines the federal currencies which i think in fact helps create a better currency system and monetization system for the world especially from a store of value which is also another factor that kind of flows into this so it's just sad to see uh such a great investor over a long period of time kind of understanding how the cycle of things are going to work and when you look at uh there's a couple of things that are happening with bitcoin right now because this is where we get into not only the trends that are moving in with bitcoin but also some of the key indicators that are leaning in either into a recession or not into a recession and when you look at some of the earnings and things that i've seen here's a good example of the airlines industry right here united forecasting a 2022 profit as passengers return and pay more paying more to fly and we're seeing a lot more profitability and this was something look at this airline expects to fly a schedule of 87 of the 2019 levels which would based on their current situation around the traffic of both passengers the amount of employees that they've laid off and restructured their business the amount of equipment pieces that have been sunsetted all of their business actually got healthier and now they're capable of charging more for premium product like this which is going to put them in a profit position which you look at these kind of scenarios and earning statements coming back like this you wonder is this how could this be on a pre-recession scenario and i'm just wondering how all of these things start to play out especially as powell starts to look at things moving forward you also look at what coinbase ceo brian armstrong is talking about and that is predicting one billion in crypto users within the next decade this is what to me just kind of slaps buffett in the face is that when you have that kind of adoption cycle it's like the internet the amount of cycle of adoption that we saw within the early stages of what the internet was doing which a lot of people what would it be used for why did you need email why do you need you know these commerce all those things were in place you know we had those communication systems in place it has done nothing but create opportunity from a technology standpoint so the fact that we could see a billion crypto users within the next decade one is going to be good for coinbase and two i think it's going to also completely revamp the monetization or the monet monetary system around the planet especially when it comes to the us dollar and a lot of the primary currencies that are being traded uh today so a big one uh coinbase is also the recipient of a goldman sachs historic first bitcoin backed loan so again now we're seeing the potential capability of a company like well already happening goldman sachs probably well versed with how buffett's strategy has been over the past you know five decades and now they too have also jumped in the space of understanding how this can be used as a store of value and hence being a backing for loan uh securities goldman sachs offering bitcoin backed loans was not on my bingo card for the day this is just of course uh the wolf of all streets if you guys are not following scott check him out a great analyst but he really understands it from a stock market side of things a lot of impact of how the traditional markets are flowing into crypto and digital asset markets so the fact that he's kind of pointing to that i think is pretty interesting here you've got cnn talking about federal reserve chairman jerome powell facing a delicate dance with interest rates is something of course we're dealing with right now uh and this is interesting because uh former president and ceo of the federal reserve bank of new york bill dudley breaks down with that this is going to be a soft or excuse me a hard thing to do in terms of a soft landing and because we have over corrected and i think to a certain extent you're probably seeing it because of the amount of fl inflation and pricing scenarios that we've already started to experience the fact that powell may still implement what we know is going to be another basis point to raise to help slow that economy it is a tight rope of not moving into that whole scenario of a potential recession but back to my argument with the airlines is if you've got these massive earnings still starting to come in are we really going into a recession or are we just trying to soften the investment environment so we don't see another april start to occur which was down 20 and i think if that is the case this will be something that we start to look at uh from a very very uh close perception of understanding how this is going to affect the rest of the year here you've got uh johnny wu talking about bitcoin uh scamwick or this time is different we'll see the results tomorrow this is just showing how the fomc meeting applies to what kind of price positions we see right there at the bottoms you can kind of see these movements here's the climb back up and then fomc we're starting to get to it and here we are setting uh potentially could we bounce back up into this range and start to see some new all-time highs for bitcoin that'll be a question i think that will continue to be looked at especially around sentiment sentiment to me is still leaning somewhat moderate it's not as fearful as the fear and greed index is showing at least on our data because we're not seeing bitcoin move dramatically in overall sentiment and amplification so that in itself is a solid thing all right let's pause for today's sponsor and that is celsius network 1.6 million people call celsius their home for crypto join them to buy swap borrow earn and send crypto all in one app with zero fees and the best rates make sure and head over to celsius.network to get started today the other thing that helps fuel this is the investment strategy of the oncoming investors and who are the oncoming investors well it's not warren buffett it's going to be millennials why are millennials running after crypto investments let's take a look and you guys are going to be pretty amazed at this according to recent survey conducted by the spectrum group most millennial millionaires have already had a massive chunk of their wealth in cryptocurrencies or think of investing more despite clashes in crypto prices and of course we've seen all this over the last few years around 41 percent say the economy will get strong on 22 while 35 say it will weaken survey highlights 83 of millennial millionaires own cryptocurrencies so essentially you're talking about a young emerging market and i think it is also going to the point that they have really shifted their entire strategy around investing and it kind of shows it because what whether it was gen x or boomers depending on which millennial you've got older or younger millennial um they're taking a whole different approach here because if you look at millennials are ahead of their parents in retirement savings this argument right here i think is a good one because of the fact that millennials are way ahead of boomers because remember boomers were still looking at retirement systems that were built around 401ks and a lot of the pension plans that were built into their jobs which millennials do not keep as long as their parents and or grandparents if they're boomers but it's not really pointing in that direction so what they've done is said hey we don't think that's going to come around so we have to kind of make our own way hence i think the strategy around digital assets so we're definitely seeing a lot more of that if you look at the statement here way ahead of baby boomers and when it comes to saving for retirement according to the new study this is by charles schwab younger generation is already stashing away funds in their mid-20s beating their parents by about a decade which i think is pretty amazing a lot of baby boomers felt like their retirement was taken care of and again this goes back to my point on the whole aspect of pension so it's really just a shift in strategy about how millennials are approaching digital assets and when you have this many millennials moving into this space you can imagine how the shift in dynamic of investment classes are going to occur there's a handful of investors out there you've got kevin o'leary and many others cuban and so on they understand this they understand the shift in technology and what it means to our society what it means to a lot of different aspects and because you have this onboarding of a large uh community of both millennials and gen z which is right behind them that will only know digital currency this is definitely going to be uh something that i continue to just spout that this is where the future is back to this point right here uh they've solved their retirement crisis and that i think is pretty cool when you look at how they've been able to do it this is 4 000 uh people by invest opedia uh found that millennial owned cryptocurrencies more than stocks 38 on crypto versus 37 who own stocks that to me is a striking number considering that these millennials are so much more intent on putting together a strategy for long-term investment survey also says they're planning on relying on cryptocurrencies in retirement uh said that they were planning on relying on mere savings so they're planning on this which is huge and a lot of them are already looking at potential opportunities of early age retirement which would beat both boomers and gen x now the the thing here is is and i always kind of say this is that if you're a millennial you're a gen z or maybe you're a young gen x you got lucky because the boomers did not have a chance at this kind of market in their high investment years where they were risk on because now most boomers are risk off it's harder to get a boomer to go into this market because they've made their money or they've got their retirement and or their savings or their opportunity it's usually the boomers who don't have it that are reacting more like a gen x or a millennial in their investment strategies so the fact that we gen xers millennials and gen z soon coming up are going to have this opportunity we are in the right place at the right time and we've never seen this in the last 100 years so the opportunity for us is once in a lifetime it's once in a generation and i think that's a big factor going forward wrapping up here you've got uh this is kind of interesting too i thought this was intriguing at thirty eight thousand dollars this was back in twenty eight twenty and twenty twenty one fear and greed comparison still thirty eight thousand dollars extreme greed this was when we were climbing the charts back in 2021 bitcoin was popping at 38 and now 38 000 at 2022 and everybody's like wait a minute that's the expectation from the market so much so that even at the price we're talking about at 38 000 remember bitcoin where it was at the beginning of 2021 2019 2020.
all these uh growth factors in comparison i'll show you a comparison of bitcoin versus apple since 2019 and who the better investor was as well but you can kind of see it just in future of south korea finance minister wants to delay the bitcoin and crypto capital gains tax until 2025 just more good news because this is leaning in and korea i think is going to be one of the world powers when it comes to blockchain technology and cryptocurrencies in general watch out for korea in a good way here with bitcoin of course here you've got bitcoin mag talking about tesla in new sec filing we believe in bitcoin long-term potential and it's a liquid alternative to cash huge liquid alternative to cash here you've got of course central african republican universal money more and more countries and emerging countries at that which are the growth sectors of the world's population a lot of people overlook these emerging markets because they don't understand the growth sector remember they leaped beyond the internet age into the mobile age and mobile is very very kind to where web 3 is going to be going and i have a feeling we're going to see more and more emerging markets become leaders around this whole sector then of course you've got jack dorsey michael saylor and others uh who've sent the us epa a letter refuting environmental issues with bitcoin and of course this is something we all know you've been following our channel you know that this essentially is going to be a catalyst to actually help sustainability and clean energy around mining because it's going to be a better solution for mining bitcoin so again just another big push last but not least i want to get into the chart a little bit but i want to show you a comparison here and this is if you had been invested in bitcoin in 2019 and invested in apple in 2019 and i just want to kind of just go over here we'll look at the bitcoin chart right here we'll go to let's go up the chart a little bit here and go to may of 2019 and we'll go to the bottom right here at 566 percent right here 566 percent if we go to today on bitcoin in may of 2019.
same scenario if you had invested in apple in may of 2019 we'll go here to may and there is may of 2019 and we'll go to the bottom right there 242 now apple is warren buffett's number one stock position so if he had invested the same amount of money in bitcoin in 2019 warren buffett might be the richest plant man on the planet instead of elon musk he would have doubled his investment just earnings since 2019 so these are the kind of scenarios to me that just make no sense around some of these investors as they start to look forward and where it's going now the point i look at is where is bitcoin i want to take a quick look on the cpi we'll jump over to the dashboard get into our top crypto and jump into bitcoin real quick and take a look at sentiment as it starts to paint out here um even though it is trending down we're starting to see a much tighter span right here between sentiment and amplification overall market is trending down all this again is is uh in my opinion is pre-priced in scenarios toward the fed meeting as we get a little closer and i anticipate we're going to see a little bit of a balance off the bottom so be watching the cpi on mondays wednesdays and fridays when we drop these data points which is a big way to kind of keep track of how and what you need to be prepared for also we do some custom video analysis over on the cpi as well so make sure to join just click the link below if you guys are listening in over on the podcast right now make sure and jump over here to the youtube channel this is where you're going to learn all the great stuff and catch more of our insights and analysis if you want to reach me it's out on twitter at paul barron we'll catch you next time right here on techpath
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