i think we can do that. charles: representative norman i've got less than a minute to go. what's most pressing on your mind. what's the wild card out there that maybe we're not paying attention to? >> what we've got to pay attention to is any dollar spent has got have offsets. the only thing this biden administration did well was give us things to cut. the dei, the woke programs, the things that do not give a return for the investment to the americans, we've got to stop and i think donald trump will do that. he understands it. the previous administration did not. charles: absolutely. you know, it's so amazing, i don't think -- well, maybe mott people are figuring it out, though. president biden was for the wealthiest folks out there. he did nothing but hurt the small folks out there. everywithin's looking for you all to save them. i believe you will. congressman norman, thank you so much. always a pleasure. >> my pleasure. thank you. charles: over to taylor rigs who is in for liz claman. >> thanks so much, charles. the dow just turning negative for the day, markets were in

rally mode most of the day to kick off the third short trading we'll in a row. i'm taylor riggs, in for liz claman. this is led by big tech, that's what's leading the rally at this moment. take a look at nat gas, skyrocketing, a massive winter storm slamming the mid-atlantic, heavy snow, freezing temperatures are causing massive delays at airports. more than 1900 flights are canceled so far, nat gas as you can see up 10 and-a-half percent. the united states nat gas fund etf also rallying as you can see, 10%. storms are boosting heating demand. let's take a look at the market rally as all the electoral college is officially confirming donald trump's presidential win in a joint session of congress just a little more than one hour ago. vice president kamala harris had the task of certifying the vote for her 2024 opponent in her role as president of the senate.

>> the whole number of the lek electors appointed to vote for president of the united states is 538. within that whole number, the majority is 270. the votes for president of the united states are as follows. donald j. trump of the state of florida has received 312 votes. >> all right, that is ap's full transition of power nearly complete. asia hushne is live on capitol hill as team trumps wastes no time to put together legislation to solidify the policy agenda. >> reporter: it's time to hit the ground running for this president-elect. he's two weeks away from being inaugurated. on his mind is his legislative agenda and now he is personally getting involved in all of this, putting his own personal touch into this. fox has learned that he's invited a key select group of house republicans to mar-a-lago to visit with him later this week to talk about this big

bill. he'll meet with house freedom caucus members, these are folks that want to cut the deficit. that's important to them. he'll also meet with new york republicans to include state and local tax breaks or salt as we call i he posted about this on truth social. he said it will all be made up, it will all be paid for by tariffs and much more from countries that have taken advantage of the u.s. for years. now, if you're wondering why he's personally getting involved in reaching out to republicans, i will remind you this is a pretty heavy lift. if he's going to do this one big reconciliation package, you've got tax cuts in there, the debt ceiling in there, border security, defense spending, no taxes on tips. as we saw last week with the speaker's race a handful of house republicans can totally tank this thing so he wants to do all of this in one big bill but today he said he would be open to two as long at it's done quickly. >> my preference is one big, as

i say one big, beautiful bill. to do that takes longer. you know, to submit it takes long er, actually, so it's a longer process. i would say i would live with that. i believe we would get -- i don't know, to me it just is a cleaner -- it's cleaner. it's nicer. >> reporter: so meanwhile, the inauguration just two weeks away and majority leader chuck schumer calling for a security briefing in light of the attacks in new orleans and las vegas. the trump transition is actually pointing to those attacks to push the senate to confirm trump's national security picks very quickly. at this point, though, we don't know if the senate has the votes, 51 votes to make this happen. that's what they would need. the gop leader has only promised that these nominees would get a fair hearing. the percent one starts next week. pete hegseth, the defense the secretary pick. >> lots to look forward to, thank you to much. meanwhile, incoming president trump saying reports about

scaling back history policy are wrong. and his strong tariff policy has already claimed one victim, canadian prime minister justin trudeau resigning earlier today, the canadian dollar strengthened on that news. meanwhile, equity markets as we mentioned mostly higher today. the dow has just turned negative at the top of the hour. we are following that story. otherwise you have big tech ahead of ces leading the gains. let's talk about it. it is nvidia hitting a record high. as you can see, i think 148, 88 is the number to beat. we are there. if we close at these levels. that stock soaring as wall street awaits ceo justin huang's keynote speech tonight, it kicks off tonight's ces in las vegas which officially begins tomorrow. all eyes were on the rest of the week. you had fed meeting minutes on wednesday, the market as we know closed on thursday for the national day of mourning for former president jimmy carter and big jobs day on friday.

let's get to it with the floor show. joining me now, great hill capital chairman, thomas hayes and chief market strategist kenny pollkari. in terms of the action, big tech leading today, all eyes on tonight. do you see big tech a.i. as another sort of big theme powering this rally for the rest of the year? >> i think that actually magnificent seven will do okay but probably not as well as last year. last year you had much higher earnings growth. this year, that earnings growth is going to decelerate for the magnificent seven from 33% down to 21%. and you're paying 33 times earnings. so i think the theme for 2025 could be the last shall be first and you could start to look at some sectors that really underperformed in 2024. >> before we get to those kenny, you weigh in. do you see mag seven as maybe not the biggest performer for

2025? >> i agree with tom. i think they're going to -- i think they're still going to perform well. i don't think you're going to see a repeat of what happened in 2024 but i think there's another group within tech that's really starting to raise its head and that's the quantum computing side. there's been a lost of talk about it over the last couple weeks, a lot of interesting names. they're having really, really interesting action. some of these stocks really being gobbled up because of what quantum means for the future of a.i. and how it's going to continue to change kind of that landscape so while i agree with tom that i don't think the mag seven is going to continue to have the great, great year, i'm certainly not a seller of the mag seven at all. >> that makes sense. thomas, talk to me, what you mean. the last shall be first, explain. >> well, if you look at two sectors that dramatically underperformed, healthcare and materials were both only up low single digits in 2024. but if you look forward to 2025, they have among the highest expected earnings growth. healthcare is going to grow earnings 20.4%. materials is going to grow

earnings 17.4%. so we think there's a lot of opportunity there. and we think it's consistent with value could start to see a bid. those unmagnificent 493 could start to see a bid in 2025. it's the cheapest value has been relative to growth since 2000 and since 1980 which were two generational opportunities to buy value. >> kenny, do you agree with that, particularly when it comes to healthcare? >> i do, because to tom's point, those two sectors were the underperformers. now, if they grow at the rate tom says they're going to grow, that is the expectation, so if they grow at that rate certainly they should be close to the outperformers of 2025. now, that's still up in the air. we have to see if the they're going to -- how earnings is going to start and what the projections look like to verify or not those earnings growth rates but one way or the other, to tom's point, the last could be first. you could see some of these sectors that were the underperformers really take

over. >> i'm assuming in healthcare it's not juss just j's eli lill, glp-1, there has to be another name in healthcare. >> we like xpi, a basket of stocks. as soon as trump got elected the bbasket got sold off. it's down because of rfk junior. after the inauguration, biotech rallied in 2017 over 75% the next 12 months. we think there's huge opportunity. why? deregulation. the fda will approve more drugs, ftc will approve more deals. they will use cash to buy biotech companies at record low valuations. >> do you agree the rfk fear within healthcare will be sort of resolved soon as perhaps they realize that he, i don't know, maybe is more bark than it is bite? >> no, no, i actually think that having rfk come on as the health

czar might actually be good. we'll see a lot of things maybe remade. there are cereals in this country that aren't allowed in other countries because of what we put in here in this country and he's trying to fight against that to make them healthier. i think we saw big fl names in healthcare come off on the original rfk move. but i think we'll see it bounce back in some of the biggest healthcare names. >> i loved having you both. great to have you, thomas, here in studio and kenny always great to see you there down in florida, i suppose. markets opened the week mostly higher, nvidia hitting aball time high and a massive winter storm has nat gas up more than 10%. all right. live streamer, fubu tv sending traders scam bling after a shock deal sends the stock through the roof. we're telling you who fubu is partnering with and show you the

triple digit move and while fubu's deal is on, the u.s. steel deal is off, we have breaking news on what the american steel maker is saying now that the biden administration has blocked the merger with nippon steel, that and much more straight ahead on the claman countdown. ♪

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taylor: some breaking news, u.s. steel not going gently into the night. fox business first reporting that u.s. steel and nippon steel are filing a pair of lawsuits against the biden administration after the white house blocked the proposed merger of the two companies. u.s. steel is up more than 7% at this hour. nippon is down about 1 and-a-half percent. now, the president previously

cited national security concerns as the reason why he blocked the $14 billion merger. one lawsuit accuses biden of obstructing the deal for political reasons. the other takes aim at the company cleveland cliffs alleging its ceo conspired with u.s. steelworkers union president to nix the deal. lydia hu is in pittsburgh with more details on how all of this could play out in court. hi, lydia? hey there, taylor. good to be with you. u.s. steel and nippon steel are asking for an expedited review of their lawsuits because their timeline for getting a deal done if they can is june. so they need the court to look at their lawsuits as quickly as possible. they want the cfius review that was conducted by the biden administration to be set aside and to allow for a new cfius national security review to unfold under the trump administration. i spoke with the u.s. steel ceo

david byrd on his thoughts of how the biden administration handled the review. >> the president of the united states shamefully, shamefully tainted the cfius process from the very beginning. we respected the process. and that was a mistake that we made. we are owed due process and it sends a terrible message to our workers and a terrible message to our best allies around the world that the our country does not respect the rule of law. >> reporter: and mr. byrd also talked about the union, the united steelworkers, and he accuses it of having what he called an alliance with u.s. steel's competitor, cleveland cliffs. listen here. >> the union, the united

steelworkers have been among the loudest critics of this deal. >> i'm sorry to interrupt. the international union? >> yes. >> the workers, no. i'd invite anyone to talk with the workers and get the truth, how they feel about this deal. because the international hasn't had any dialogue with the workers. they don't understand this deal and from the very beginning they had given their rights to a competitor so there's some alliance there that we need to understand better. >> reporter: well, cleveland cliff's ceo issued a statement in response to the lawsuit filed today and referred to a bid that they made to buy u.s. steel saying this, quote, u.s. steel made their bed when they rejected an all american solution and insisted on

pursuing a doomed to fail cashout sale to nippon steel. also david mccall said the claims made against him are baseless and he will vigorously defend them and the doj declined to comment on the lawsuits. taylor: you have been all over the story for what feels like the past year and you had great reporting. thank you for bringing us that interview, lydia hu. >> reporter: thank you. taylor: meanwhile, we have a fox business alert. take a look at fubu tv, soaring 250% after the streaming service provider confirmed it struck a deal to combine its online live tv business with walt disney. the new venture, 30% owned by fubu, 70% owned by disney and it will form the second largest digital paid tv provider after youtube tv. financials are higher after the fed's vice chairman of supervision, michael barr, says he plans to step down from his post on february 28th. barr's exit clears the way for

president-elect trump to appoint all new bank regulators. u.s. lenders are hoping for an easier regulatory landscape under the new trump administration. and shares of parent of michael kors and coach brands, capri holdings, they're popping up more than 7%, the gains come as bmo upgraded shares to a market perform rating. they're citing negative and uninterested settlement. pay core is couraging about 24%. this is after bloomberg's reporting that the company is in advanced talks to be acquired by the larger competitor, pay chex. sources familiar with the matter say a deal may be announ early as this week. meanwhile, new warnings today on a contagion that could have major impact on food prices in the coming year. restaurant chain founder and ceo, cameron mitchell, he is here to tell us how worried he is about the bird flu's impact

on poultry and eggs. and make sure to tune into the big money show, brian brenberg, jackie deangelis and i have all the breaking market and economic news each weekday at 1:00 p.m. eastern, it's only here on fox business. we're coming right back. he look, and says... (in atrocious french) au revoir mon amour. a bientot let's work on that french, shall we? (♪) au revoir mon amour. a bientot au owwwww bientot au revoir mon amour. a bientot (♪) (in perfect french) au revoir mon amour. a bientot now search with ai assistant with the hotels.com app

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action from the white house when it comes to the bird flu. this warning comes after the biden administration announced a $306 million package last week to address matters like early stage research and improving hospital preparedness for the virus. while many braced for the bird flu's impact on humans, the outbreak is continuing to wipe out flocks of po poultry on far. in northeast oklahoma, about 130,000 turkeys were culled if december because of bird flu. this is contributing to a shortage of poultry and eggs all across the country jacking up the prices of those products. let's bring in someone with skin in the game, joining me in a fox business exclusive, cameron mitchell restaurant founder and ceo, cameron mitchell who operates 69 restaurants across the country. it's so great to have you on this program. talk to us about any impact you are seeing within the dairy, the poultry business.

>> well, first it's a pleasure to be with you this afternoon, taylor. thank you very much. and i want to tell you right now, eggs per d dozen are up almost double what they would be right now. fortunately for us it's not a huge part of our business. we're not really in the breakfast segment per se as some other company operators are and certainly chicken prices themselves are much higher today. taylor: you talk more broadly about chicken prices, right? we've done the math. in the latest cpi data it's showing that food is still up 20% in the last four years, right? how much of these a sort of general higher prices, chicken, steak, everything, has started to really impact your business? >> well, i think there's a little bit of a misnomer there. currently as we stand, as we finished out 2 the 024, our costs of goods were much lower,

almost a point of total sales versus 2023. so the huge price increases in what you just quoted there were front-loaded in '22 and '23 and have subdecided in '24 a little bit and we've seen some reductions. we're pretty comfortable today with where our cost of goods are in relation to sales overall. taylor: you're actually seeing prices come down a little bit year over year, is that accurate? >> that is true. we could not -- in '21 and '22, we could not raise our prices high enough to keep up with increased cost of goods and food prices. today, we're actually raising our prices very, very little. we raised our prices very little in 2024 and expect 2025 to be the same. about half of what we would normally raise our prices, around 2% per year versus 4. so that's -- a lot of that is

because of the ease of pressure not only in the cost of goods but also labor wages have subsided a bit also on the way. taylor: i want to ask what was the biggest challenge for you in terms of your bottom line. >> well, last year in 2024, i think still labor was our biggest challenge, cost of goods was down as a percentage of sales was down over '23, 2023, but our labor for every dollar the food cost was down in '224, our cost of labor was equally up. so it was more of a neutral effect on the overall p & l for the year. labor costs are our number one concern even though we're seeing some ebbing and reduction on those. i will say the other thing is helping labor costs is we have a tremendous amount of people wanting part-time jobs now in our industry and that's helping the demand of applicants coming

into our organization. so which is helping ease labor costs a little bit. taylor: are they in favor of no tax on tips? >> that's a sticky subject to get into. i think i personally am not in favor of it but i think, you know, for a multitude of reasons. i'm not even sure it's ever going to come to fruition at this point. y consumer sentiment. i heard from one restaurant owner the day after thr that sales doubled. people are exhaling, that at least they have some sense of direction for the country. what are you seeing? >> yeah, i couldn't agree more with that statement. once that election was over, it was very tepid up until telex - we didn't get a 100% sales increase. i wish we did. but that was not the case. with that said, a huge shot in

the arm with sales. we'll see. the tale of tape really is going to be january and february here. the election is over now and that euphoria a little bit is over and so we'll see what happens. i'm still pretty optimistic about 2025 in terms of sales, environment, and consumer spending in '25. taylor: where should we be watching for your next location? >> well, we have six restaurants opening in 2024 or '25, excuse me. and our next location -- we just opened in sarasota, florida. we have one in birmingham michigan opening in may and then fort lauderdale, florida in end of april, early may. taylor: i'm hearing a couple floridas in there. i'll have to go visit. cameron mitchell, thank you so much for your time. i really appreciate it. >> thank you, taylor. taylor: the tech world ready and waiting for tonight's kick

ykickoff of ces. jensen hard of haung set to make keynote speech. the founder and ceo of robo lab is here with a fox business exclusive to share his view of america's robotics future. we're coming right back.

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to put out finishing touches on displays for ces, 2025. it will open its gates to an estimated 150,000 attendees and over 4500 exhibiters and our very own liz claman is in the middle of all that action in the massive crowd, soaking it all up. the show officially kicks off tonight. we have a highly anticipated keynote announcement from none other than what we are calling him the godfather of a.i., the nvidia ceo, jensen huang, and while the stock is at all time highs, there's a backlog of a.i. clips that nvidia needs to deliver. how is that affecting companies that nvidia works with. joining us now the ceo and founder of robot lab, elad inbar. so great to have you. you wrote a new book titled our robotic future. i skimmed through it and loved it. i got through a couple chapters. talk to me about sort of nvidia, right, and the robotics of all t

all. how do you use those chips in your robots? >> thank you for having me. nvidia actually created all these chips the whole line of processors for robotics. they're great for all the chatgpt, the large language models but they're actually trying to tackle the problem of having enough computing power on board on robots so the robots can be useful in everyday lives. like the robot you see behind me, this is something that really prevents robots from being integrated in our environment and the ability to compute, to understand what's going on, how things are moving, where obstacles are is very, very important, almost crucial to the functionality of robots in our lives. taylor: we know that nvidia's ceo talked about how there's insasiinsatiable demand.

that's not the problem. it's supply. are you able to get your hands on enough chips. >> as robots become more and more useful, the demand grows, outpaces the ability to produce that. the beauty of all of that, while you're waiting for your order, there's already a better and newer and more powerful generation of processors that can do much, much more. so we want to be able to compane that as much as possible and they are able to do more things. taylor: i mentioned i read through a couple chapters of your book. i want to talk more about your company. one of the chapters was on delivery robots but i've seen sort of these robots go down the street and try to make food deliveries or whatnot. but how does that work in theory? because can't college kids come up and kick it or push it over or purposefully put obstacles in its way? have you found this is successful? >> yeah, you know, people will

be people. right. there's always that littlejohn any that will try to -- little johnnie that will try to make technology fail and break and that's okay. the most important thing is for people to embrace what's coming. this is bringing a level of comfort, a level of efficiency like cameroon just before me, talking about labor shortages. we're able to help business owners to do things people don't want to do anymother, everything from cleaning to delivery. taylor: can we talk about the cleaning robots. what if that's a low income job that someone really wants. it may not be glamorous but it pays the bills. how many jobs are being displaced by cleaning robots. >> the challenge is not that we are displacing people. people actually don't want to do these jobs. no one wants to push a vacuum cleaner in a hotel for eight hours a day. i'm sure you noticed that most of the cleaning crew are in

their late 50s, early 60s, in age. they don't want to do that work anymore. they want to start their second phase of their life, to enjoy retirement and everything. and this is where robots actually are helping because people can actually focus on more valuable tasks, stuff that robots cannot do, robots are great at vacuuming carpets or scrubbing floors but they are not great at high touch areas like door handles and windows, these kind of things. taylor: so they comes the humanoid robot which on first glance can kind of freak you out. they're tall like my dad, a little bit stronger than me. but they kind of look like that and we don't always know how to interact with that. what is the future of humanoids? >> so humanoids robots that will be able to integrate into our lives. will be able to do everything we do and help us in every aspect of our lives.

i see that as a great opportunity for humanity as a whole to basically elevate our wants and needs and everything into a different layer. in my book i call it the star trek economy. if you think about it, in star trek no one works. they just show up. everything that they want is ready for them. and this releases humanity to go to the next level as far as the stars and all of that. taylor: what happens when we get to the point where a.i. advances beyond human control? that's something sam atman says he's a little worried about. are we there soon? >> we are there faster than what many people believe including myself. i was surprised by the pace of the large language model progress and all of that. we moved from thinking about chatgpt from 4-year-old level of conversation to a post doc that

is super capable in everything that you want to ask them. in a matter of roughly two years. and they're better than most of the professionals in their fields. yes, it's scary on one hand but on the other hand it opens a whole new level of scientific discoveries and many, many other things that we can't unlock today so like every change in life, it is scary. when cars were introduced people said oh, with all the horse providers, what are they going to do? they became car mechanics and other types of jobs and many, many other iterations throughout history. taylor: i think this time around the pace at which it's changing we get worried that some of us won't always be able to keep up and keep pace and find another job. elad inbar, we have to leave it there. thank you for joining me. i really appreciate it, humanoids and all. liz claman as you know, she is

on live on the floor of ces all week covering the latest gadgets and gizmos, coverage begins tomorrow. she will be talking to some of the biggest ceos in the nation about how they plan to integrate a.i. into their companies. a few of the all stars liz has lined up this week, delta air lines ceo ed bastian, c qualcoms ceo, and lenovo president, matthew zylinski, a huge lineup there. liz will be back tomorrow live flas vegas 3:00 p.m. eastern on claman countdown. don't miss it. up next, did president joe biden and treasury secretary janet yellen leave a fiscal time bomb for the incoming trump administration? charlie gasparino has the details. he's here. he's breaking it down, next, on claman countdown.

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taylor: all right government spending soared during biden's final weeks in office with the outgoing administration already blowing through 30% of the annual budget, and as the debt increases, so do interest rates. this is all sparking worries of a taking fiscal timebomb that could blow up and rattle

the markets just as trump takes office. that's where we're going with charlie gasparino who wrote a column for the new york post laying all of this out. tell me how this works. charlie: i always want to preface stuff like this that financial crisis, there's a lot of worry. people for years saying the 200d never came and it finally did come so it's hard to pinpoint exactly when this happens but there are weird signs right now just as trump is about to take office and it reminded me of the whole liz trust thing the former prime minister of britain and -- taylor: the whole currency blew up. charlie: she proposed massive tax cuts, deregulation, and the bond market rebelled, something known as the bond vigilantes, as they call them, they started selling the pound, and essentially caused a run an interest rate spike dramatically and caused a run on the bank and she left. now, we're in a different

situation now with trump. trump hasn't taken over yet or implemented any policies, but the bond markets lately have been acting really weird. now, if you listen to a lot of people on the left they will blame trump. they will say it's his cause for potential tariffs, which are inflationary that's causing a spike in the 10-year. he spent, he's looking to spend and looking to cut taxes, but i did the deep dive with bond traders and listen just so you know my first job on wall street covering wall street was covering the bond market. taylor: the smart moneys in bonds not equities we've got you. charlie: yeah, we used to say stupid people trade stocks. that's not true. i don't want to call our reviewers stupid but that's where we're going with this. bond traders are saying start adding up what's going on with biden, particularly the way janet yellen managed the debt over the last half year. so you've got two things. wicked budget deficits, gapping out. the last pre-covid budget deficit of trump was 900 billion.

not great. it's 1.9 trillion headed to 2 trillion right now. the debt is up to 36 trillion and here is where it gets really funky. janet yellen, to suppress yields on the 10-year, now why does the 10-year matter so much? every consumer interest rate is based off the 10-year. if they spike you could have a wicked slowdown in the economy. it's to suppress that, she essentially rolled over debt issuing short-term papers so you wouldn't have to issue any 10-year debt. that is starting to freak out bond traders because they know they have to at some point refinance that and that's a massive amount and you'll pay higher interest rates. you'll get the picture and that's what we have right now. now how could trump counteract this? larry kudlow was quoted in the story, our esteemed colleague, and he makes good points. free market policies could help tax receipts come into deal with the deficit, unleash the doge boys, elon and vivek to start

cutting waste. that could help. be the salesman that you are, donald trump. because remember bond market works on perception. tell the market we get it. we're looking to cut stuff, and i think that's where we're going with this. if he does that, he might be able to put the genie back in the bottle. the bond market vigilantes look, right now, just to get started, and then they will blame trump obviously but i am telling you. i'm not saying none of it is his fault or worry about tariffs. i really do believe trump will do tariffs sort of strategically. that's what he did the first time, but really this spending and biden has already blown through, this is fascinating. byron donalds who turned me on to this story a long time bond trader, puts out the bear traps report used to work at lehman brothers so he knows a little bit of financial crisis, he said biden has already blown through 30% of his fiscal 2025 budget,

as he laid it out. so i mean, we are spending on the way out, this guy is just like shoveling it out. so that's kind of where we are. i cut you off i'm sorry. taylor: i was just going to ask quickly, we only have a minute left. the liquidity on the three-month i understand is a lot higher so that's why janet yellen is trying to issue debt on the short-term because you get the liquidity but how fiscally irresponsible to not be doing a 20-year? charlie: it's more than just the liquidity. she is, it is fiscally irresponsible when you have low interest rates not to extend maturities. it's sort of basic finance but that's why and she knows that. what she was doing was suppressing the yield on the 10-year, because the 10-year bond, let's just say it hit 5% during the election, i mean, the economy would have went into a tailspin. markets would have sold off and in order to keep spending, and to hide it until the , the money

be due after kamala harris theoretically be elected but then she be elected. taylor: you're already in. charlie: this is scary stuff. taylor: charlie gasparino we love having you on this program especially during wonky bond stuff like that. you break it down so well. it's our pleasure. all right, we have the closing bell, ringing in just about five minutes. we're kicking off yet another short trading week the dow you can see a little bit lower this is after it was up as much as 380 points earlier in the session. the s&p and the nasdaq though also higher but slightly pairing some of the gains that we had earlier in the day. let's talk about bitcoin. they are claiming $100,000 right? the first time we've done that since december 19. bitcoin buyer micro strategy disclosing that it bought approximately 1,000 bitcoin for $100 million in cash bringing the total holdings to approximately 447,000 bitcoins. let's do this all with sound planning group ceo

david strazewski. thank you so much for joining us in person. did we buy bitcoin at 10 1,000 dollars? >> absolutely. taylor: why? >> the thing we have to understand is there are only so many of them so 94% of all possible 21 million bu bitcoins have already been mined and there's 100 years ahead of us before the last one will be mined so here is the reality. we have a supply shortage we're not really aware of. we're kind of thinking of the price of this. we're not actually thinking of the function of what it was intended for because it's not super fast at transacting right now, but no. this is an absolute time to buy. we want to buy on dips. taylor: pop quiz. micro strategy owns like 2% of all bitcoin outstanding. is that a good play if i can't buy a bitcoin or a bitcoin etf? >> yes of course, absolutely. in fact, if people are confused about how to get involved with crypto, like i'm just not, most confusing part is about computers and money. i'll just buy coinbase. that's another way to do it

as well. so these are different ways to be looking at things. taylor: another one you like is ripple. it's the coin to be looking at right now. >> absolutely. taylor: why? >> so ripple was actually the second-largest coin prior to the sec's investigation of them. they did this really weird lawsuit against them and basically, the ripple will be the track that everything will be running on in the future so they created their own stablecoin right now and bank of america like i said were doing 100% of their internal transactions, they have 83 different patents on it and there is incredible stuff coming out. taylor: the cynics though tell me only put as much in this space as you're willing to lose. effectively as of now, some people say it feels like a casino. do you agree with that? >> best example i have is this. don't not get involved with something. do whatever you would do for a nice weekend away with your spouse and instead of doing that weekend, maybe put that in crypto. here is what i'll tell you three to five years from now you made real money or you just lost one weekend together not a big deal.

taylor: i could have had that vacation right? >> or you made your retirement. taylor: well-said. it's a bet i'm willing to take. i wanted to finish with you and follow full circle. how much of a threat do you see maybe 5% on a 10-year and if so how much of a threat is that to the equity market? >> i think the treasury has been a big problem. we can't let the debt get so high where we're not going to have the ability to be paying this off. the united states is going backwards right now and we can't make higher payments. the treasury, i think, is also a future iou on the u.s. dollar. no one wants a promise when you'll print your money. we're talking about better fiscal responsibility right now with president trump and the doge concept here, which is awesome. but here is the reality. we are saturated in debt. bonds lose money in five different ways. all those ways are on the table right now. taylor: so bonds and dollar depreciation then makes your

case for some of the alternatives we talked about. >> gold and bitcoin are going up because inflation is real. taylor: can we talk about gold? gold or silver. >> silver for sure. because the gold standard was established as a 15:1 ratio. it's a 9:1 mining ratio today. if we look at the numbers right now as of this morning it's 89:1. i'll do that deal everyday of my life. 89 silver to one ounce of gold so silver is about to go through the roof. we're in an early market for this bull. taylor: i need costco to start selling me silver bars, because now they are selling me gold bars. >> they do silver as well. exceptional pricing. taylor: gold bars and silver bars in my stocking next year for christmas. meanwhile take a look at the s&p and the nasdaq trying to close. >> [closing bell ringing] taylor: in the green that does it for us kudlow is next. harrilarry: