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Speaker 3: So let's get into the crypto conversation. Last week a
Speaker 3: Coinbase was named into the S and P five hundred
Speaker 3: and you know that skyrocketed their stock and it's also
Speaker 3: been encouraging news for the crypto community as a whole,
Speaker 3: so going forward, but they also had an issue as
Speaker 3: far as for sure security breach. So let's talk about
Speaker 3: the security issue, and let's also talk about coinbase future
Speaker 3: as far as its stock price and you know, stability
Speaker 3: as a company.
Speaker 4: I think the security issue is just the penality of leadership.
Speaker 4: I think Brian handled it pretty well. I think he
Speaker 4: was very direct and addressing it. He didn't skirt around
Speaker 4: the leak of the news or the break of the news.
Speaker 4: So I do like that. As far as them being included,
Speaker 4: A lot of people were asking does this give crypto
Speaker 4: a lot more credibility? And I'm gonna be honest with bitcoin,
Speaker 4: if it's the highest return of asset of all time,
Speaker 4: how much more credibility does it need.
Speaker 1: It's outperforming Bitcoin or you know, bigcoin.
Speaker 3: Yah crypto or all right, crypto currencies outside of bigcoin,
Speaker 3: because I think I think at this point people have
Speaker 3: already solidified bigcoin. Yes, when they say gave credibility to crypto,
Speaker 3: I think they're talking about every other crypto currency outside
Speaker 3: of bigcoin.
Speaker 4: Most, I think are not institutional assets to hold long term,
Speaker 4: even on the retail side. I know, I don't want
Speaker 4: to cause the war between the other crypto of factions,
Speaker 4: but there's only one to invest in currently if you
Speaker 4: want an incredible return.
Speaker 1: I think the crypto currency market at large.
Speaker 4: Needs some reform and just needs better projects for sure.
Speaker 4: But as far as a coin business inclusion, I think
Speaker 4: it goes to the testament of people want high returns
Speaker 4: and they want something that isn't necessarily tied to the
Speaker 4: dollar in the current regime. Do I like moon coin
Speaker 4: or or Solano the most. I mean, I think we've
Speaker 4: had the conversation enough. Sharp is still fighting a good
Speaker 4: fight and hopefully that make a turnaround. But if you
Speaker 4: want some exposure that is not tied directly to Michael Saylor,
Speaker 4: coin is a good alternative, even though I think MicroStrategy
Speaker 4: is better.
Speaker 1: But I think we.
Speaker 4: Can be very honest to overall crypto market, there is
Speaker 4: nothing to invest in but bitcoin.
Speaker 1: Yeah.
Speaker 2: I think that's what makes it interesting is that when
Speaker 2: you Bitcoin and coin base of synonymous with each other
Speaker 2: at this point, because coinbase is the largest custodian of
Speaker 2: bigcoin in the world, then own twelve percent of all
Speaker 2: the bitcoin.
Speaker 1: Yeah, right at this point.
Speaker 2: Right now, I think they said that they manage over
Speaker 2: four hundred billion in cryptocurrency, which is a great uptick
Speaker 2: from last year where I think they closed that three
Speaker 2: twenty five billion. But they also are the largest custodian
Speaker 2: of ethereum as well. And so if it's will it
Speaker 2: impact the entire space, no, will it impact certain coins, yes, for.
Speaker 1: Sure, he is one of them.
Speaker 2: They also are the largest custodian of Solana as well,
Speaker 2: and so those are three coins. If Coinbase is the
Speaker 2: custodian of and you're trying to invest in the space
Speaker 2: without directly investing in it, yeah, coin makes a lot
Speaker 2: of sense. And it's obviously the first digital asset to
Speaker 2: be on the S and P five hundred, So it's
Speaker 2: it's a.
Speaker 1: Major monumental moment.
Speaker 2: Like you said, good coins is already been solidified once
Speaker 2: it crossed certain thresholds fifty five one.
Speaker 1: Hundred thousand, now it's been there.
Speaker 2: But coin it, I mean, it's a good investment if
Speaker 2: you're looking to be in the space without directly owning
Speaker 2: those coins, well, yeah, for sure.
Speaker 1: Pushback, thank you now you put that.
Speaker 3: I was going to say, because for people that's listening
Speaker 3: the close all right, the next best thing and not
Speaker 3: owning big cooin is is owning the bigcoin etf I bet.
Speaker 1: So it's related.
Speaker 3: Coinbase is related, but it's not direct because some people
Speaker 3: still an educational process that for sure keep in mind.
Speaker 3: So I don't I want people just to fully understand
Speaker 3: because we can't take it for granted.
Speaker 1: Owning coin base is not like owning bitcoin.
Speaker 3: It's it's related because it's like what you just said,
Speaker 3: it's the brokerage. But if you do want to have
Speaker 3: if you want to mimic bitcoin's performance on the stock
Speaker 3: market and not actually own bitcoin and not have to,
Speaker 3: you can you can buy ibit And there's other bitcoin
Speaker 3: ETFs which track bitcoin. Now why would you do that
Speaker 3: because if you feel like you're not one hundred percent
Speaker 3: confident with crypto. As far as the security, there's no
Speaker 3: recourse if money gets if your crypto gets stolen. Ibit
Speaker 3: is on the stock exchange, so it's regulated. You get
Speaker 3: it through the brokerage. There's some level of security. There's
Speaker 3: also that's important for people to understand because a lot
Speaker 3: of people still don't understand crypto. They understand bitcoin, they
Speaker 3: want to buy it, but they don't understand it. They
Speaker 3: don't understand it the nuances or how to keep the
Speaker 3: coin safe, and the difference between the cold wild and
Speaker 3: the hot water. It's kind of like mumbo jumbo. So
Speaker 3: and then for the people that's like, all right, well,
Speaker 3: if you don't invest in bitcoin, then ibit is not bitcoin. Yes, true,
Speaker 3: but the thing about bitcoin is that is liquid. You
Speaker 3: can always buy bitcoin. So if you can buy ibit
Speaker 3: and at any point in time cash that and then
Speaker 3: buy bitcoin, but at least you're actually still participating in
Speaker 3: upward mobility of bitcoin if you feel bitcoin is a
Speaker 3: good investment without having.
Speaker 1: To go through all of the hurdles and.
Speaker 3: Obstacles that could potentially happen because of owning the outright cryptocurrency.
Speaker 1: I got to ask the minute all the question why
Speaker 1: I bit over micro strategy.
Speaker 3: Well, because well, so ibit tracks Bitcoin dollar for dollar
Speaker 3: as far as like whatever it does.
Speaker 1: Ibit does that.
Speaker 3: Micro's strategy is once again that's like a coin based
Speaker 3: type thing, but more centered around bitcoin, where that is
Speaker 3: a bitcoin linked investment. When it's direct, so Bitcoin can
Speaker 3: go up and Michael strategy can go down hypothetically, right,
Speaker 3: but it's also designed to it has higher volatility than bitcoin.
Speaker 3: So the micro strategy is something that if Bitcoin returns
Speaker 3: ten percent, micro strategy might do twenty percent. Yeah right,
Speaker 3: So it's like you get higher leverage. So that's why
Speaker 3: a lot of people have done options on Michael on
Speaker 3: micro strategy and then just purchase bitcoin.
Speaker 1: Purchase bitcoin for the long haul. That's a good strategy.
Speaker 3: Options on micro strategy, so you get that accelerated growth
Speaker 3: in a short period of time, but for bitcoin to ride.
Speaker 3: So I would say, if if you really just want
Speaker 3: to just do bitcoin and want an alternative, I bit
Speaker 3: is the way to go. Micro Strategy is a I'm
Speaker 3: trying to just fast track this thing and get as
Speaker 3: much money as I possibly can while bitcoin is going up.
Speaker 4: Yeah, and if you get in at forty three bucks,
Speaker 4: I bet it's currently at the high or not a high.
Speaker 4: Fifty nine dollars almost at the high. Sixty one is
Speaker 4: way cheaper than micro strategy as well. For those of
Speaker 4: you who are looking for a more cost effective alternative.
Speaker 2: What do we think about the appreciation potential for coinbase
Speaker 2: now that it's being added to the S and P
Speaker 2: five hundred? How many funds will it be in? Will
Speaker 2: the price increase over the next six or twelve months?
Speaker 4: I think so on the institutional side, and just from
Speaker 4: a validity standpoint, it does take some of that concern
Speaker 4: or worry away from is this too volitude to well,
Speaker 4: if it's in the s and P five hundred, it
Speaker 4: has to be legit.
Speaker 1: And you have to give Brian credit.
Speaker 4: He's fought through a lot of wars business wise to
Speaker 4: be able to survive this.
Speaker 1: So I think their inclusion.
Speaker 4: Is needed and it's very good and credit to SMP
Speaker 4: four including them because there's a lot of legacy companies
Speaker 4: that they probably could have kept in. But I'm glad
Speaker 4: that they were included, and I should get to three
Speaker 4: seventy eight.
Speaker 1: They were included.
Speaker 2: Discover Financial was removed, but they were acquired.
Speaker 1: I believe Discover Financial was acquired.
Speaker 2: But essentially, like you said, like they iPod in twenty twelve,
Speaker 2: here we are in twenty twenty five. When they iPod,
Speaker 2: it was an it was kind of around this idea
Speaker 2: like will this space even exist exist?
Speaker 1: Right?
Speaker 2: So he wasn't coming in with the same type of
Speaker 2: favor that a lot of companies come in with. So
Speaker 2: to be here thirteen years later and being part of
Speaker 2: the S and P five hundred it is a monumental moment.
Speaker 2: But I mean, so the security part is part of it.
Speaker 2: It used to feel like the safest way to do
Speaker 2: it if I didn't know anything, was to be coin based.
Speaker 2: We know that not to be true from some stories
Speaker 2: that we've obviously heard and experience, but I mean, he
Speaker 2: put out a ransom the other day. He was like, look,
Speaker 2: they try to extort me for twenty million. I'm getting
Speaker 2: twenty million into the people who can find them.
Speaker 1: Yes, smart move. Yeah that was okay, Brian Bryce.
Speaker 4: You can't pay any terrorists, man, because if they pay
Speaker 4: that twenty somebody else is going to hack an Act
Speaker 4: two hundred. It's a good big business lesson. You cannot
Speaker 4: pay that excursion feed.
Speaker 1: Yeah.
Speaker 2: And as the price of big client is going up,
Speaker 2: you've seen the amount of crypto theft going up. Absolutely.
Speaker 2: I mean this is as part of it. So security
Speaker 2: around that space is going to be paramount, especially as
Speaker 2: that price continues to climb and climb and climb, because
Speaker 2: we don't see it stopping here at one hundred, right,
Speaker 2: it looks like that's a right. So yes, security around
Speaker 2: the space is going to be a wave.
Speaker 4: Oh the last note, crypto founders and crypto megal whales,
Speaker 4: up your security. I know a lot of people may
Speaker 4: have seen a video where the husband and wife was
Speaker 4: almost kidnapped. If you go look at the amount of
Speaker 4: crypto whales that have had unfortunate circumstances the last three
Speaker 4: or four years, please be mindful.
Speaker 1: I will say that.
Speaker 3: And it's uh two point two billion dollars was stolen
Speaker 3: in crypto in twenty twenty four and so far this year,
Speaker 3: first four months, one point seven billion has already been stolen.
Speaker 3: And that doesn't even a count for the tool, the
Speaker 3: full cryptos hacking and everything that's been going on. So
Speaker 3: when you look at it from a standpoint of crypto,
Speaker 3: is this security aspect has not been solved, it's not.
Speaker 3: It's not an issue that has been solved. It's an
Speaker 3: issue that is Actually it's only getting bigger. And we
Speaker 3: posted this on Instagram, but you know there's a Michael Turpin,
Speaker 3: So it's interesting this this made news twenty eighteen. Hackers
Speaker 3: stole twenty four million work for Crypto from his phone,
Speaker 3: and how they did it was through a SIM swap scam,
Speaker 3: So they convinced AT and T to transfer his phone
Speaker 3: number and or they had somebody on the inside do it,
Speaker 3: and they they stole twenty four million dollars from his
Speaker 3: phone and he actually sued them for two hundred and
Speaker 3: twenty four million dollars. So the reason why the SIM
Speaker 3: swap thing is interesting is that it actually happened to me.
Speaker 3: I can't prove this, but I'm pretty sure that's what
Speaker 3: happened because but my coin base got hacked. I had
Speaker 3: to take my phone in to get serviced, and then
Speaker 3: we went to LA and then I actually had COVID.
Speaker 3: It was a whole long story, but my phone stopped
Speaker 3: working for like two days, and then when it came
Speaker 3: back on, that's when my coinbase was hacked. So I
Speaker 3: think that somebody inside this store switch saw your Google
Speaker 3: Instagram and said, oh, sim car swap. So that's this
Speaker 3: is a real thing. So coin base security issue has
Speaker 3: not been solved.
Speaker 1: No, in the experts. What is the MAK that's insured?
Speaker 1: Do we know? Is it is two hundred? Is it?
Speaker 3: If you guys see, No, it's no insurance. What I'm
Speaker 3: saying crypto. That's why I said if you want to,
Speaker 3: if you want to safer route is I bit because
Speaker 3: there's no insurance on crypto, so there's nothing you can
Speaker 3: do about it, even if even if it's on coin base,
Speaker 3: it's not there's no.
Speaker 1: There's no insurance for that short coin base, is what
Speaker 1: you're saying. That's Brian.
Speaker 4: I'm sorry, but you do need you do need to
Speaker 4: fix that issue for sure, triple factor authentication or something
Speaker 4: triple the next leg because.
Speaker 3: The vast majority of people is not going to do
Speaker 3: a coal wallet, right. The coal wallet is the it
Speaker 3: looks like a USB drive, this drive thing, and that's
Speaker 3: when you actually have you know your code and you
Speaker 3: actually own your own crypto, meaning you're the sole custodian
Speaker 3: of it. But for most people, especially if you got
Speaker 3: a lot of money, we're conditioned and trained to have
Speaker 3: institutions hold on money like you know what I mean.
Speaker 3: Most people are not going to have five million dollars
Speaker 3: and just put it in a safe. They would rather
Speaker 3: put five million dollars in the bank. Feel comfortable with that,
Speaker 3: right If feel comfortable for five million dollars in josh wab,
Speaker 3: they don't feel comfortable actually having five million dollars in
Speaker 3: there in their possession.
Speaker 1: So I don't know.
Speaker 3: I think crypto experts are going to have that, but
Speaker 3: the average everyday person I don't think is going to
Speaker 3: be comfortable with that.
Speaker 2: It'd be interesting to see what the encryption is, right,
Speaker 2: if you're holding twelve percent of the world's big point
Speaker 2: and you're managing over four hundred billion dollars of assets,
Speaker 2: how is that?
Speaker 1: How is that protected while being a target? Yeah? I
Speaker 1: would love somebody to break that down for us that
Speaker 1: that's interesting.
Speaker 4: Does CrowdStrike have a crypto division or it's solely focused
Speaker 4: on crypto or no, I'm.
Speaker 1: Not sure give you that information momentarily.
Speaker 4: Yeah, because whoever finds a way to provide it actra
Speaker 4: layoff security, that's where the real money is going to be.
Speaker 2: Right, that's going to be that's the way, right, And
Speaker 2: we're speaking about crypto, but even.
Speaker 1: In artificial intelligence as well.
Speaker 2: For sure, you can see how this technology, especially when
Speaker 2: we talk about cyber companies, CrowdStrike, Pale all to Z scale,
Speaker 2: all these companies.
Speaker 1: How important they will be.
Speaker 2: Not now, but I mean definitely now, but even more
Speaker 2: so in the future as that becomes more of the commonplace.
Speaker 1: These companies are going to be needed.
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