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Other cryptos which are fascinating to me right now? Are these?
So?
Originally we had the bitcoin ecosystem and the etherym ecosystem and everything's being built on mostly ethereum, and all of a sudden, the guy from binance cz said, I'm going to create my own ethereum right binance Smart Shaine and a guy from Korea named do Quon, I'm going to create the Terror network. And now Sam Bankman freed from FTX, I'm creating Solana, and they're building many ethereums competitors that are not nearly as decentralized as ethereum, but they're faster.
And you know, you look at the TV. You look at the TV. You don't know what's behind the TV, right Who in the hair cares what's behind the TV?
How it works?
We just turn it on. We're like good TV. And so there is a debate will consumers care how decentralized the blockchains are? Right now they're just saying, hey, is the consumer interface is the is the user experience sexy and good? And so you're seeing these new ecosystems explode north. That's money coming from bitcoin and the theory him into the salonic ecosystem, you know, the sam bankman freedz Parah. I bought this coin Luna five months ago at like
twenty seven cents and it's now eighteen dollars. Yeah. You don't have a lot of those in your life. Yeah, yeah, to kiss your wife and muyron dog from Korea, which I actually did. I bought my wife and dog from Korea literally literally. And so you know, I think listen that the macro markets have never been more interesting, and crypto is macro on steroids right now, and so it's a fascinating time to be a trader. It's really volatile, and so you can't say, well, so volved, I lost
all my money. No, you have to adjust your position sizes. And so if you're used to taking a ten unit S and P position which trades at twenty vall, and you're trading bitcoin at eighty ball, you should take a two and a half unit bitcoin position, right, And it's just the math. You don't have to be a crazy kamakazi in volatility just because you're trading crypto. You just have to adjust your sizes so you preserve your capital. Like I think, bitcoin is a core part of your portfolio.
It's got a purpose. It's going to be around for a long period of time. Every institution I know is buying something. It's basically digital goal. Ethereum is most likely the winner of the decentralized supercomputer that powers all these new businesses, all these new ecosystems, but it might not be the winner, right. I'm also invested in a thing called Diffinity, which is going to launch in about a week.
They want to be participant in that Solana like I talked about Para, There's all these other ecosystems like ethereum trying for the same thing. Then there's DeFi. These DeFi points trade like equities in some ways. They have a dividend, you can you can think of it like a dividend. The more the more use they get, the more business money they're gonna they're gonna make, the higher the token is gonna go up. And so I look at those three buckets and say, if you're not in that bucket,
you're just you're you're literally like a Ponzi game. And so light coin BSV, you know, bitcoin cash, bitcoin whatever, that bs the other, bitcoin x RP. Those are all blowney coins And doesn't mean you can't make money. And I'm because every once in a while the market gets hot and you know, people like, oh that hasn't moved yet, let me buy it, and they pull your friends in. It's a little bit like it's a little bit like that that game. Stop. They're mean coins and you can
get your head ripped off being short. And so I would not advocate for the non professionals to be short. And if you're short things, you want to short them after they've taken out everyone out. Everyone else right.
Can ask you about because you said those are bs coins. But what about like a stable coin, almost like a tether. And I'm thinking in a sense of if we see bitcoin go from sixty four to fifty eight, is it a wise move to say, all right, I'll take some of my investment, put it in tether because it's stable, and then reinvest when I feel like the trend is going back up. Is that a strategy that can use?
No, So listen, I think tether or USDC, you know, a circle stable coin, any of the stable coins are fine places to part. They're basically just it's like it's the same as putting in back in dollars, but you're not having to take it out of the crypto ecosystem, right right, And so yeah, I think it's a perfectly good idea when you want to take chips off the table, to leave them with the crypto ecosystem so you don't have to go through your bank and put them back in.
And so we trade a lot of USDC, we trade some tether. You know, there used to be a concern about is tether real or not. It's the test of time enough people believe it's back one to one, that it's going to hold hold one to one I wouldn't. If I had to leave money for a long period of time, I'd rather leave it in USDC than tether, even though it's the saving erness.
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Exact thing, but pretty much that's just a dollar. And I tell you what's going to happen next year, in the year after, in the year after, they're gonna be more and more of these stable coins. A matter of fact, we're gonna be buying pizzas with stable coins. Mark my word. Facebook's new project. It's called Dim like Carpe dim or per diem DM. They used to call it Libra. All it is is a dollar stable point and you're gonna get a o V wallet, so everyone's gonna have their
own Facebook Messenger. And you want me to send you money instead of going to the bank, I'm just gonna like venmo, but it's instead of venmo controlling it. This is gonna leave my wallet and go to your wallet, and it could go overseas and it could be ten thousand dollars, not fifteen hundred. It could be one hundred thousand dollars. And so the world is going to move on to wallet's, not bank accounts. I'm long Facebook stock.
One of my favorite trades this year is I sold a shackload of call options on Game Stop because the ball was so stupid, and I bought Facebook stock and Facebook calls and I bought it because I know sometime in this next half year, they're gonna come out with this crypto wallet called nov unfortunately not named after me, with the Gnobe wallet, and they're gonna have and all of a sudden, you're gonna have twenty five hundred, two and a half billion people with access to crypto on
their wallet. And Facebook all of the son is gonna get a little bit of a crypto. You know, you're gonna put them in your crypto basket, and so Facebook's going from three hundred to four hundred.
I think I hope quol question for you, speaking of conspiracies, what do you think of Peter Tio's comments about bitcoin being equivalent to like financial terrorism because it may be backed by China.
And I know Peter Well. I first met him back will We both had big hedge funds No. Six. I partner with them on a lot of things. He likes to be provocative, that's his brand. He likes to say ship that everyone says what. He's very smart. He owns a lot of bitcoin, he owns positions and companies that you know, participate in the ecosystem, and so he's a bull in the space. The stable coin war will be a war. It's not gonna be a bitcoin war. It's a war between China stable coin, the US stable coin.
Europe's going to have one. I was on with the central bank governor Brazil. They're going to have one. Every one of these countries is gonna have stable poin. It really only matters US China. Right, we're the reserve currency
of the world right now. In order to be the reserve currency of the world, traditionally you had to have the strongest navy, right the Brits had, you know, the pound used to be the reserve currency, and all of a sudden, the daughar became most countries only keep the reserve currency status for about one hundred years or about the end of our life in that zone. And so but why is it important, Well, we have these gigantic deficits, so we want everyone to buy dollars, right, how are
we going to fund these huge deficits. We fund them by people overseas buying the dollar, buying our bonds. And so if China becomes the reserve currency, if people start saying, hey, what's the gallon the oil, what's a barrel of oil? And oh, it's in rem MB nine dollars, like right now, anywhere you go in the world, you ask how much he's worth. He said, Well, I'm worth a million dollars, I'm worth four and a million, I'm worth ten million.
They never tell you I'm worth fifty rai or you know, one to have a million euros or right, everyone thinks of the base currency in dollars. That's because we're the reserve currency. That's a huge advantage for the United States of America. And so for us to lose that, you know, war with China, who's way ahead in the stable coin, would be a tragedy. And the government now knows that. And so I think you're going to see an acceleration.
Bitquin is a bit quin is kind of a flaw in that hole, you know, in that room of negotiation, because what bitcoin is telling governments is, dude, you guys are doing such a shitty job with your budget deficits. You are printing money. My mother used to say, money doesn't grow on trees. Right now, money is growing on trees. Let's make college free, right I think they probably should make costs for Let's pay off your student debt. I will pay it on it.
Let's just keep.
Pumping in more and more money. Let's go to war again. Like the amount of money are government spending. We don't have that. And so bitcoin is like a report card
on how the government's doing. Bitcoin's going up because people say, shit, there's a chance, not a it's not the predominant probability, but there's a possibility that is growing that you know, we ship the bed that the US yield curve and dollar looks like what happened in Germany the at the beginning of the century, or what's happened in venezuel lower. And we're like, that could never have been here, and most likely it will never happen here. But man, the
chance is hired today than it's ever been in my life. Again, I don't think it's a forty percent chance, but as it goes from a zero percent chance to a five percent chance to a ten percent chance, people want insurance, and bitcoin is insurance. And the governments know that.
My graduates from my school being false bad drop bag Drop Mike drop bad.
Drop Drops.
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