go for bitcoin. whether crypto currency is turned out to be a good investment in the long run will also depend on how they perform as a mode of payment. and if they're able to compete with national currencies. if so, they could how countries continue making financial transactions in times of crisis . rush us more on ukraine is an example of how political this can get. shortly after russia attacked the prize forbid corn shut up. if traditional bank stop working, crypt occurrences could provide an alternative. the 1st large scale experiments have already begun. for example, in central america and el salvador. in september 2021, the nation introduced bitcoin as a legal tender. it was a great p r. stand for a salvatore's president naive bo kayla. the for the year a leader was able to cast himself as a pioneer and the entire crypto community it cheered him on. but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but accordin

bitcoin. what was going on, buckle up. we said it's going to be a bumpy ride. and now some of the big brains and big egos who championed crypto currency claim, they are building a crypto utopia. magical things will happen. it's something called block chain technology. and it just my change your life and they really could complete with, if not even take down the facebook and google's in the amazon. my name is tossed and huffman and i'm going to put some of these claims to the test. forget all the hype will explore the true potential of this new invention seat was already using it, making it really easy and see all the paper and a piece of us all of our a lisa. and go deep into a secret bunker that holds billions in bitcoin, but they are those who want to kill it. join with me and introducing a bill to outlaw crypto currency, so that we nip this in the bud or change the world with it. well come to ground 0 in the battle for the future of the internet. web 3 point. oh, they wanted a science ficti

so bitcoin, jesus had become bitcoin, judas, and there was a split into 2 separate bit coins. every revolutionist followed by the counter revolution, which is usually a purge of the original revolutionaries. when i 1st started covering the space, every one was united in the struggle against the establishment. now, the industry has grown so much that they are competing parties, propaganda machines, conspiracy theories looks a lot like politics. the biggest fight within the bitcoin ecosystem is over at the moment, is who has the right to name bitcoin. but at the end of the day, i think the version of bitcoin described in the big one white paper has the strongest claim to the name bitcoin than anything else. and that's pickling cash. i think it's join to say that and causing people to, to buy big cash when they actually want to buy big coin as it is going to be casting is from issue shalicia. and i'm been told the omnia d for the english, rosie dr. the call from bitcoin b cash because tom depression, he had for some his sierra energy nuclear, those in your face to bid coins could

plus bitcoin is a public blockchain. we hired mike morel to run the cia to do a study on bitcoin.did a 10 week exhaustive study with the security agencies , with crypto companies and he came up with a thesis that if you are going to design a trap to catch criminals, it would look a lot like the bitcoin blockchain. it is -- elizabeth warren is wrong she says you can use bitcoin to evade sanctions. the russian ruble has depreciated over 90% in the last 10 years. the turkish lira did the same. bitcoin is a lifelong to people in countries with really poor stewardship of their economy. we should be thrilled that russians can get some of their money in bitcoin so they are not completely broke holding worthless rubles. >> that brings me to the question of what the use case is. we are talking about it as a replacement for fiat currencies. is that what you view the future of digital assets? >> i think bitcoin has this beautiful lane of being digital gold or a store of value. everyone has a human right to have the fruits of their labor stored somewhere. if you don't trust your government's

go for bitcoin. whether crypto currency is turned out to be a good investment in the long run will also depend on how they perform as a mode of payment. and if they're able to compete with national currencies. if so, they could how countries continue making financial transactions in times of crisis . rush off more on ukraine is an example of how political this can get. shortly after russia attacked the prize forbid corn shut up. if traditional bank stop working, crypt occurrences could provide an alternative. the 1st large scale experiments have already begun. for example, in central america and el salvador. in september 2021, the nation introduced bitcoin as a legal tender. it was a great p r. stand for as salvatore's president naive bo kayla the, for the year of leader, was able to cast himself as a pioneer and the entire crypto community cheered him on. but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but accordi

go for bitcoin. whether crypto currency is turned out to be a good investment in the long run will also depend on how they perform as a mode of payment. and if they're able to compete with national currencies. if so, they could help countries continue making financial transactions in times of crisis . rush off more on ukraine is an example of how political this can get. shortly after russia attacked the prize forbid corn shut up. if traditional bank stop working, crypt occurrences could provide an alternative. the 1st large scale experiments have already begun. for example, in central america and el salvador. in september 2021, the nation introduced bitcoin as a legal tender. it was a great p r. stand for a salvatore's president naive bo kayla. the for the year a leader was able to cast himself as a pioneer and the entire crypto community it cheered him on. but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but accord

get exposure to bitcoin.ces say every day that there is not a spot etf. more people get into these derivative products to get exposure to bitcoin while they can't get exposure to a more direct etf. >> we saw nft sales sputter a bit. >> you see a little bit of a recovery. it is down significantly from the highs. this is by volume. this is all to say that bitcoin itself has taken arise. all of this falls on the heels of how fast bitcoin can rise. a quick thank you, that was our crypto contributor. coming up the future of biotech investing. jennifer will join us to talk about all of that and more next. this is bloomberg. ♪ >> as we come out the pandemic, what does the future of the biotech industry hold? jennifer is trying to level the playing field by launching a new program to help women founders in biotechnology. joining us not to talk about all of that and more is professor down herself. i think the world -- most people would probably agree we need more of you guys in this world. talk to us about what the im

go for bitcoin. whether crypto currency is turned out to be a good investment in the long run will also depend on how they perform as a mode of payment. and if they're able to compete with national currencies. if so, they could how countries continue making financial transactions in times of crisis . rush off more on ukraine is an example of how political this can get. shortly after russia attacked the prize forbid corn shut up. if traditional bang stopped working, crypt occurrences could provide an alternative. the 1st large scale experiments have already begun. for example, in central america and el salvador. in september 2021, the nation introduced bitcoin as a legal tender. it was a great p r. stand for a salvatore's president, naive bouquet lou, before the year of leader was able to cast himself as a pioneer and the entire crypto community it cheered him on. but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but

coming up, where bitcoin goes from here.lk about the crypto landscape, the war on ukraine, and what institutional adoption of cryptocurrency looks like over the next few years. more on that next. this is bloomberg. ♪ emily: time now for our crypto report. after breaking 40,000 for a bit, not going much higher or lower, staying in that tight range, why isn't it breaking out? sonali: that is the big question. we have been in a $50,000 range since the beginning of the year. we have not even hit even the highs of this year. the big question is -- what will give bitcoin another leg higher? one question we will have answered by our next guest from pump -- pump -- pomp investment. thank you for joining us. what is keeping bitcoin from breaking out this year the way it did last year? >> one of the things is that the supply/demand mechanisms are very well understood and you can check where the supply is and how illiquid. what we are seeing is that more long-term holders are acquiring bitcoin, taking it off of exchanges. minors are --

bitcoin, -- bitcoin because there is no entity, that is issuing bitcoin, it's raising money. it makes sense to think about it as a commodity. you're not contributing to some investment scheme through the effort of others, it's a decentralized network. so i would agree with the other speakers what they said about if you just look at the market today, but the important question is what's going on. what is the nature of the activity that's involved that is going to change and develop. and the same asset may in different circumstances beaten more than one category. >> thank you, thank you for such a complex issue that we are all heading towards. and your expertise. thanks for coming here today. senator behnam. >> thank you and thank you to our committee members, staff really for a very informative hearing. and i think it's helped us as we go forward. on behalf of senators, and myself there is no shortage of questions on this issue. we appreciate your testimony, and that will help us get better care aspen potential and the risk of digital assets. as of now there is a gap in the ov

favorite bitcoin guests coming up.isten, i think everyone should have some exposure to bitcoin to, gold, even cash at this point but remember you want to be in the stock market. so we got a lot to discuss. i want to begin with the power a block, with the yardeni research president ed yardeni. ed, let's start the conversation about impact of inflation on this economy and particularly how has it changed your modeling for this market? >> what has changed for me and everyone is the war in ukraine. it's a horrible situation. before the war there was widespread perception inflation would peak sometime in the spring and early summer. after the war we have to realize that's probably not going to happen. it may take until late summer or fall before we see a peak and the peak should be higher. i think what has really changed we're looking at higher inflation and slower economic growth. i don't know if it will be described as stagflation using the noun. i will use the adjective, it is a stags inflationary economic outlook compare

his bitcoin -- is bitcoin a commodity? chair behnam: per new york district ruling, it is a come already. sen. marshall: thank you very much. sen. stabenow: thank you very much. we have senator hoban with us virtually and senator klobuchar is here. >> hello, chairwoman. i understand that the cryptocurrency exchange markets differ from any other commodity markets in that unlike other markets like grain and oil, the cryptocurrency exchange market offers individual retail investors. i'm glad it is open to everyone, but given the fact that many everyday americans to be involved in the financial market, i want cybersecurity to remain a priority. cyber attacks have become a major attack throughout -- a major threat throughout the world. this would bring significant market disruptions through attacks. how will you prevent cyber attacks? chair behnam: thank you, senator. we do not have enough authority to oversee the cash commodity digital asset marketplace. both regulators and customers with -- would benefit from a traditional mar

and bitcoin went from $35,000 up to $65,000.'s another catalyst out there for it. >> tim mentioned existential risk a lot of people don't know about soren keepguard great crypto person. that's why you watch "fast money. i'll say this, bk, if this federal reserve were to blink, that could happen, they've been spooked by the market before, that's your bull case for bitcoin in my opinion. >> coming up, best buy flying higher today retailer surging after announcing dividend news, has options traders diving in, tus. wn asmoy""ft ne rern if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. p

coming up, where bitcoin goes from here.ll be talking about the crypto landscape, the war on ukraine and what institutional adoption of cryptocurrency looks like over the next few years. more on that next, this is bloomberg. ♪ emily: time for our crypto report. after breaking 40,000 for a bit, bitcoin is not going much higher or lower. staying in that tight range ever since the start of the year. joining us now are our crypto contributors. why isn't it breaking out? >> that is the big question here. we are back above 42,000. we have not even hit the highs of this year. the big question is what will give bitcoin another leg higher. one question we will have answered by our next guest. thank you for joining us. what is keeping bitcoin from breaking out this year the way it has last year? >> one of the big things that is very obvious is that the supply demand mechanisms are very well understood. you can actually go ahead and check on the metrics where the supply is. what we are watching is exactly what we saw in 2020 in the sum

bitcoin is a public clock chain. -- block chain.y did a city on piquant and they did a 10 week exhaustive study with the security agencies, the three letter agencies, he came up with a thesis that if you are going to design a prop to cut terminals it would look like the bitcoin -- a trap to catch criminals, it would look like bitcoin. we are looking at it the wrong way. the russian ruble has depreciated over 90% in the past 10 years. the turkish lira did the same. bitcoin is a lifeline to people in countries with really poor stewardship on their economy. we should be thrilled the russians cannot get some of their money in piquant so that they are not completely broke. -- in bitcoin so that they are not completely broke. >> it is a replacement for fiat currency, is that we view the future of digital assets is? >> digital assets is a big word. bitcoin has a beautiful lane as being in his were of value. everyone has the right to have their fruits of your labor could be stored somewhere. if you do not trust your currency, you put it in

but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but according to officials, 70 percent of the population don't even have a bank account. considering the high transaction costs that come with conventional currencies, bitcoin is also a fast, an inexpensive alternative. another reason is that a salvador hasn't had its own currency since 2001. they use us dollars, but the country is eager to reduce their dependence on the united state prison. how does paying with crypto currency is work in everyday life? we took a closer look. now some can boss runs a small printing business in san salvador, the capital of el salvador. he pays with bitcoin every day and the boiled complaint hey, with fleet coin wherever i can. oh, at small shops in the supermarket. yeah. and at gas stations, macau, the selena paying for gas when bitcoin has become 2nd nature. when he gets to the cashier, instead of reaching for his wallet, he simply scans a q r code and transfers the amount by a

and plus the bitcoin bounce. back in the black for the year bitcoin serving more than 16% in the past week. what is behind the rebound and where do we go from here and later amc may not be a oneoff why this meme stock might not be done doing transformational deals that have nothing to do with movies or popcorn but we start off with a massive milestone for tesla. climbing back into the green for the year after surging more than 8% today the biggest one-day jump since january. that move adding nearly 85 $85 billion to tesla market cap. more than ford or gm after the company announced it would look into splitting its stock and paying out a dividend to shareholders. they helped lead markets higher with the nasdaq rising more than 1.3% so what do we make of this move. these are the big moves that are the big events for tesla >> they've been monstered and if you go back to the august of 2020 stock split, it put the stock up about 75% over the course of the next couple of weeks. the s&p inclusion for tesla also later on

sonali: we should first look at bitcoin because it was a 15% rise in bitcoin over two weeks.4,000. significant let in the last couple of days. to your point, you are right. it is not rising as fast as ethereum over the last two weeks. you see it up more than 20% in the price over two weeks. people seem to be very -- getting very excited about the merge, but it will be interesting. ethereum has a lower base so the percentage rises are easier to feel what the market cap is still very wide between the two cryptocurrencies. emily: a long way for ethereum to go. we will talk about this and more with our next guest, head of institutional coverage at falcon next. what do you make of ethereum's latest run? does it have to do with the merge or something more? guest: she hit the nail on the head. i think right now, we are seeing two things in the market. the first is bullish activity fueled by the news that they were planning on purchasing $3 billion worth of bitcoin for their treasury. seeing a lot of hedge and retail investors and aggregators taking profit share off bitcoin and trans

go for bitcoin. whether crypto currency is turned out to be a good investment in the long run will also depend on how they perform as the motive payment. and if they're able to compete with national currencies. if so, they could help countries continue making financial transactions in times of crisis . rush off more on ukraine is an example of how political this can get. shortly after russia attacked the prize forbid corn shut up. if traditional banks stop working, crypt occurrences could provide an alternative. the 1st large scale experiments have already begun. for example, in central america and el salvador. in september 2021, the nation introduced bitcoin as a legal tender. it was a great p r. stand for it, salvatore's president naive bo kayla the for the year a leader was able to cast himself as a pioneer and the entire crypto community it cheered him on. but why did el salvador make bitcoin its national currency? one 5th of the national g d p is money sent home by family members abroad, but acc

bitcoin etfs trade. at cme, my team worked together closely with the cftc, and these close relationships were critical to our ability to innovate effectively and responsibly. today, i will share three blockchain use cases that are moving our society in a more secure, transparent, and equitable direction. but first, as requested by the committee, i will start with some basics. the bitcoin white paper published in 2008 outlined a peer-to-peer electronic cash system using a consensus mechanism known as proof of work. on the bitcoin ledger, transactions are arranged in consecutive blocks. simply put, proof of work requires members of a network known as miners, to solve a mathematical puzzle. to secure the network. once the miner solves and confirms a transaction, it is assigned to a block. the block is timestamped and added linearly to the block chain. for this work, the miner that first solved the puzzle received compensation in the form of a block reward. since bitcoin's creation, a variety of other consen

it's interesting, bitcoin is on there as well. it has been a bit under the radar but it's the highest level of the year on bitcoin, raising year-to-date losses. real momentum there. you have got to flag oil, not necessarily related to tech, but oil down sharply with west texas intermediate down per barrel, there is now a narrative around the question of global consumption, particularly china. biggest consumer of global energy products. every so often a chart comes along. i want to talk about apple. apple on monday for its 10th consecutive day had its longest streak of gains since october 2010. let that sink in for a moment. that is despite reports that apple cut production of the iphone se by 20% because of waning demand because of inflation in the conflict in ukraine. investors didn't seem to mind. apple really leading the charge there quickly, amazon now positive year-to-date as well. despite the narrative around higher rates, investors are looking close at mega tat -- make cap tech stocks. investors looking for other stock spli

frankly not enough people understand bitcoin.are putting too much trust in a system that is $30 trillion in debt, dependent on the global reserve currency of the dollar while other countries like russia and china, building parallel systems their own digital currencies to divert swift. i think we have choppy waters ahead until political leaders wake up to bitcoin and competitive advantage america would have with it. we fumbled our way into this positional howing capital to drain overseas, weakening the dollar to the expense of the average american to the benefit of powerful and rich. i think about think bitcoin is g that can benefit that, when we realize that it will get to 100-k. charles: what happened in the last 72 hours or so gnat at this, thanks very much as always. >> thanks for having me. charles: uglier headlines from russia invasion of ukraine is taking a bigger bite out of your portfolio. the more intense obviously it gets over there the tougher it will be. oil hitting a seven-year high. that is not stopping president bi

had to accept bitcoin. starbucks had stores in el salvador. i was wrong, so i paid tim his nickel. >> i am here to present you with your nickel. >> thank you very much. and i'm here to say that this is justifiably a nickel. wow. i don't think i've seen that face on a nickel. this is a new nickel. >> i didn't even realize i gave you a special nickel. >> i haven't used nickels for a long time. >> you know that's funny. >> except to pay off bets. >> you can hear the rest of it on our podcast sand hill road available anywhere you get your podcast. >> i have to listen to that. he's colorful, animated. that's a good podcast. >> rob, is going to be rainy today, cloudy. >> and then the sunshine came out. >> the radar had green on it for st. patrick's day this morning and then the skies cleared out. we have interesting weather our way. a taste of winter as we get the weekend started and then mid-80s in the forecast next week. right now, 55 in san francisco. you have the wind coming in across the bay. it is a chilly

i have seen in bitcoin since 2013. matt: it is weird that bitcoin has not done better.ot of investors would have gone in at the beginning of 2020 because you saw what was happening. but why not keep buying it through this point? dan: it's a great question and you are right. the intuition is it should be doing better than it is. there is a short-term correlation between bitcoin and the s&p 500 in very stressful times. it is highly correlated throughout 71 days, and then it breaks down. i believe that is the case here. when the s&p gets crushed, bonds get crushed, you have to crush everything. but when the dust settles, people will realize with rates going higher, and fed funds rates are going to five or something. that has to hurt bond prices, probably stock prices. and then anything with discounted cash flows like real estate gets hurt. cryptocurrencies are independent of interest rates. matt: real estate getting hurt is a painful trade considering how many americans have been paying inflated prices. dan: that is the problem, the fed is driving mortgages artificially be

and thus, the bitcoin prices this morning.here was a lot of talk about the fact that institutions would be stepping into this market in a big way. what are you seeing from institutions? >> what is really encouraging to see if some of the traditional players get into crypto trading. there is no question amongst investors that crypto and as i classes are here to stay. all the friends they work with with advisory and custodianship are beginning to offer crypto products and services. that is leading to greater adoption as well as investor appetite. >> speaking of how investors can get into this asset class, there is an etf for that. that is something that grayscale has been pursuing. what do you expect the consequence of those letters to be? ultimately how this will end up when it comes to the approval. >> this puts the full resources of our firm behind the flagship fund. it is really important that investors know that we will continue to advocate for them but their voice can actually be heard in this process as well. it will offe

again, i do think you have to understand that crypto and bitcoin is an ecosystem.re are lots of points of leverage and points of transparency on it i think grouping it into one thing is a mistake instead, you have to look at the big institutions all the way down to how do individuals interact and trade and exchange with each other. it is all under the heading of bitcoin or decentralized digital currency nothing is perfectly decentralized. if you took out a bunch of the top exchanges, you have to believe you have an impact on the ecosystem. though you wouldn't be shutting down bitcoin that's the interesting part. >> sam, thanks for your insights we'll talk to you soon >> thanks for having me. >> if you're hungry for more crypto content, stay up to date with "crypto world" at cnbc.com. we're also doing a "tech check" livestream at 12:30 p.m. eastern and 9:30 pacific >>> meanwhile, do not sleep on today's market action. the weakness is accelerating the dow is down more than 650 points the tech sector is 1.4%. we'll have more after this break. alright, so...cordless he

emily: are you a bitcoin or ethereum guy? why?i don't invest in the actual currency either way. my view is we can assess whether we think a company will succeed, then we can impact the company's future activity and everything else. whether bitcoin will go up and down on a given day is beyond my pay grade. i think there are certain things to ethereum in terms of the blockchain it is on and accessibility, that serena is probably right, it is easy to see why it is becoming a real competitor. sonali: many investors like you are investing in crypto infrastructure given these uncertainties around regulation. from a valuation standpoint, are you worried too much money is flowing into infra structure companies at a time when there are still worries about a disconnect between private and public valuations? bradley: that is a very fair point. i think back to when we invested in a company in austin, texas that just had a billion-dollar valuation. i remember thinking, if i am a user of digital health, i should invest. i think it is the same t

and i'll say this too about bitcoin. one thing that's incredibly important right now, just from an, a kind of geopolitical purpose. in the united states, we should not want what's happening right now, which is that russia is being pushed into the arms of a waiting. china. china loves the scenario right now because the chinese are able to say, hey, forget about that rural reserve currency, the u. s. dollar, and let's focus on our courtesy, let's use our g, b, the r n b. and let's focus on that instead. right. and that should become your reserve currency. what bitcoin has the opportunity to do is to help break that up some and prevent russia from becoming completely dependent on china. if we're more dependent on peer to peer, it's better for the entire world and i think that's, that's important to and the last and i have about 30 seconds left bed. but i mean, we also see it being used in ukraine and it feels like if authorities are going to criticize it, being used in russia, but also in what they consider humanitarian eff

and so bitcoin is a public blockchain.red mike morel good to run the cia to do is that bitcoin. we did a 10 week exhaustive study with the security agencies and he came up with a thesis that if you're going to design a trap to catch criminals, it would look a lot like the bitcoin blockchain. it is just wrong -- elizabeth warren is just wrong. the russian ruble has depreciated over 90% in the last 10 years this year alone, the high is 50 or 60% could bitcoin is a lifeline to people in countries with really poor stewardship of their economy. we should be thrilled that russians can get some of their money in bitcoin so they're not completely broke. >> that brings me to the question of what the use case is. by the context we are talking about, it is a replacement for fiat currency. is that what you view the future as echo took a digital asset is a big word. i think it has a beautiful lane of being a stored value. everyone has a human right of having the fruits of their labor stored somewhere. if you don't trust your government

i never spent bitcoin, so think i should invest in something else or keep it?: well for me, i think you need to hold on to it. listen i've got 50,000 bitcoin so i'm not at 300,000 yet, but i know also that when we spoke to your people they said you were thinking about the market because i'm running out of time but i want to share with you what i think is the kodak black starter stock market portfolio. i think you got to have etsy, etsy is the amazon of the future i think you got to have spotify because this is your industry, unity software that's the metaverse that's the future and nee is a utility you got to have something saf portfolio if you start building a stock portfolio, kodak, you have something that seems boring but always make money and amazon of the future why not have the amazon of today, i'd round it out with amazon. it's not investment advice is just suggestions i want you to start off with because i think you're on the right track as you start to segway from the super star music career, into other areas in your life. we got to leave it there i'm

bitcoin erases its 2022 losses with a climb above $47,000. we will have more on the trajectory for the cryptocurrency and the prospect of a spot etf with grayscale's ceo. the biden administration scrambles to reframe the president's remarks calling for putin's removal from power. the kremlin calls it alarming and says no progress has been made in talks with ukraine, which continue in turkey this week. welcome to "bloomberg markets." on this monday, we had our eye on the bond market. guy: we do. trying to figure out exactly what the equity market thinks of the bond market i think is one of the big questions that everybody is trying to get the answer to. we came in this morning, trying to understand this tension, this threat potentially posed by the inversion you just mentioned to the equity market, and the equity market at the moment seems to have a fairly clear answer. we are going to continue to go higher. so kailey and my question of the day, how long can stocks ignore an inverted curve? here's my thoughts on this. our recessions bad for st

bitcoin spiking now. us about what you see driving these moves based on what is happening in ukraine and russia. >> ironically, i think bitcoin has rallied on this false narrative that with sanctions, bitcoin and cryptocurrencies are different avenues for russians to move money around. that is absolutely false. it is incorrect. people like to hold onto this old narrative that bitcoin is a black box and a censorship resistant to -- resistant. people forget crypto is transparent. it is actually like an open box where everyone can look inside, see the transactions and be able to decipher if there are abnormal movements around. i think there is speculation that has caused bitcoin to go up recently. the reality is it is not a good way to do fraud. emily: are you saying bitcoin should not be rallying to this extent? >> to the extent it is rallying, the good reason it is rallying is because crypto has been able with speed and efficiency to raise over $20 million for ukrainian families that need it. it does highl

>> there are bitcoin prices to start with.o talk about bitcoin because it did decline most of the last week with an extra nearly 30% drop. more than 2% in the last 24 hours. when you look at bitcoin over the last three weeks you have to , look at the other cryptocurrencies and see how they fared in relation. we know bitcoin is falling alongside stocks. if you look at ethereum here, it did have a steeper decline than bitcoin had. it is not that all of them are doing so poorly. if you take a look at tether, it remains not only fairly stable but it is actually getting a bit of a lift over the last day and last seven days to we are seeing a difference between the stable coin and the more traditional cryptocurrencies as we take a look at the meaning of cryptocurrencies in this new era we are headed into. emily: thank you. i went to bring in our next guest to talk about the expansion to europe and the middle east. brett, so much going on in the crypto market right now. this question of whether crypto is decoupled from more tradition

bitcoin is a public blockchain.study on bitcoin, a 10 weeks exhaustive study with the security agencies, crypto companies. his thesis was if you are going to design a trap to catch criminals, it would look like the bitcoin blockchain. it's wrong if you think you can use bitcoin to escape sanctions. the russian ruble has depreciated. bitcoin is a lifetime to people -- lifeline to people with poor stewardship in their economy. we should be thrilled russians can get some money in bitcoin. >> that brings me to the question of what they use cases. in the context we are talking about it, a replacement for fiat currency. is that what you view the future is? >> digital assets is a big word. i think bitcoin has this beautiful lane of being digital gold. everyone has a human right to have the fruits of their labor stored somewhere. if you don't trust your governments currency, traditionally rebutted in diamonds, gold. this is a digital version of that. i think that is the use case. there are stable coins, digital dollars, the

rising and we have some data that perhaps the case for bitcoin bitcoin hasn't into moved in over a year. perhaps investors are holding onto their bitcoin and it could be a good sign. they are not selling it. >> emily grow fail -- graffeo there. vonnie: officials say the pilots of the china eastern plane it not respond to calls after tipping into a nosedive monday and crashing. investigators say it is too early to pinpoint the cause of the disaster which is believed to have killed all 132 people on board. dozens of domestic flights were canceled across china as authorities ordered a sweeping air safety review. chinese health officials say every province should set up two or three makeshift hospitals to treat covid infections after china updated the coronavirus treatment guidelines to be designated for people with severe conditions and sent milder conditions to isolated facilities. 33 makeshift hospitals have reportedly been built or are under construction. hong kong is set to resume sending compulsory testing notices as the declining number of coronavirus infections allows authorities to

that is also why china recently banned bitcoin. they can't control it which is the same reason elizabeth warren hates bitcoin. the chinese communists and elizabeth warren both want to control you. your savings, your speech, your children. every decision they want to control. we need to break up the means of controlling the citizenry. i want an unruly, uncontrollable, american, we the people! number two. don't ever apologize to the woke mob. it doesn't work. they're not engaged in rational discourse. they're not actually offended at whatever idiocy it is that they are whining about that moment. they want to destroy you. they want to silence you. they want to subjugate you. respond with joy. laugh at them. it drives them bananas. are leftists the least funny people on planet earth? you can't say that! you can't do that! i don't like that! no! no! shut the hell up! it's none of your dam business. if i want to get a vaccine, i will get a vaccine. if i don't want it, i won't. it is none of your business how i decide for me and my family

our bitcoin baller brian kelly joins us next with his thoughts.here, "fast money" back in two. >> announcer: catch us on the "fast money" podcast, any time anywhere follow today on your favorite podcasting app we're back right after this. making friends again, billy? i like to keep my enemies close. guys, excuse me. i didn't quite get that. i'm hard of hearing. ♪♪ oh hey, don't forget about the tense music too. would you say tense? i'd say suspenseful. aren't they the same thing? can we move on guys, please? alexa, turn on the subtitles. and dim the lights. ok, dimming the lights. for investors who can navigate this landscape, alexa, turn on the subtitles. and dim the lights. leveraging gold, a strategic and sustainable asset... the path is gilded with the potential for rich returns. if you wake up thinking about the market and want to make the right moves fast... get decision tech. for insights on when to buy and sell. and proactive alerts on market events. that's decision tech. only from fidelity. >>> welcome back to tastykake. "fast money. . >>

bitcoin can capture some of that or bitcoin or ethereum you're talking multi trillion dollar market where is only $800 billion right now long-term there's a lot of stuff here the risk is is of course if the fed decides to really crush things it will be hard for all risk assets but for me you want to have some exposure to bitcoin >> bonawyn which former ugly duckling do you like. >> i'm tempted to good with lilly, all swans deserve to be included and i have a slightly different take, if you look at the concentration of names in the major indices you're over owned. so purely from allocation asset standpoint it's tough to by that i also trade nucor trading 6 forward pe, strong cash flow with 2 or $3billion on the balance sheet i don't love the manufacturing exposure but as pete said it has pricing power and for those reasons, given the ducks gave me, mel, i got to choose one it's that one. >> we're not shooting anything that's another game. [ laughter ] just outrage from animal loverros out there i got your point, bonawyn. coming up, more -- video gaming -- we got more bitcoin banter ahead.

bitcoin has nothing to do with any of that.th technology, millennial adoption, regulatory changes. all of that makes it a perfect diversifier for your portfolio >> let's talk a little bit i'm dying to ask you more about why the hell i should get into chinese tech stocks or whatever you said not for me, baby, but let's talk about commodities and i'm not saying, you may be making a brilliant point there. is the best way for the average individual to play that to go into an etf? if so, do you have any >> yeah, it's a great point, tyler. trying speculate on individual companies is really hard you take some of the companies that people think of as oil companies, the big, diversified majors part of the problem is half their business makes money when oil prices rise. the other half loses money when oil prices rise. the refining businesses. we really like etfs lixop, a brd holding of oil producers we like oih, which is the oil services companies oil services have been underinvested in over the past cycle and we think they're poised for