this year, bitcoin specifically fifth it really rising is interesting to see evidence that perhaps bitcoinstarting to take on a greater role in institutional diversified folios. caroline: we are seeing this continued promising of very low borrowing costs. this sort offor preservation, this inflation edge. starting to hear the drumbeat of more and more institutional players. other players nibbling at the edges. --n will they take a fight take a bigger bite? , thank you so much for joining us. for years, somebody people are like, the institutional money is coming any day now. is it here?as it arrived ? >> great to be on the program. fan of "what'd you miss?" i think to answer your question, for years, we have been hearing about institutional adoption, institutional money. particularly amongst the locals, there has been a big misunderstanding of what that means. be oneill not be -- not big event. i think instead what has really been happening is that there has been a slow, steady, and consistent increase. we have seen that, a little more like this summer. thislittle bit more public summer. ca

and eventually don't lead me for you know to precious metals or bitcoin and analyze it all. i looked at bitcoin and i jumped through hoops wondering what decline well we're not a crypto currency replacement and i think the thing that really was a big big decision point for me as i realize a bit klein is more than 90 percent of the market for true for work tripped ocurred c. which meant it was completely dominant and then i realized that all the hard forks that had taken place in 2017 had merely made the point value proposition better and they had made sure that it had gotten out of its adolescence and start it if i was making that decision in 2014 or 2013 before the hard forks and before decline cash bequests be and all that complexity and if i was making the decision before i saw all the institutional great cost to the ins or exchanges come online it would have been very difficult and i don't doubt i could have done as a public company officer but i think in 2020 i finally had as a security that i thought i could invest the treasury and because of those things the moment th

dollar by owning the hardest possible asset that you can and that means bitcoin and he very eloquently just. obs why big is much harder magnitudes harder than gold and we'll get into that in a 2nd half but i think the importantly what this signals is a really a watershed moment to going all the way back to the 1980 period when we saw the beginning of this bull market in the bond market which has now been going on for 40 years and interest rates have been going down for 40 years and we've had this this inflation deflation story and that cycle i believe now this is the top of the bond market finally with this micro strategies buy of bitcoin so he's protecting the company by converting the dollar treasury to bitcoin is $500000000.00 ice cube that is melting so here's a tweet from ice cube who perhaps one time was worth $500000000.00 the rapper the rap star and he tweeted a link to the photo of the deficit mess by stephanie calton m m t modern monetary theory right. where the vast majority of people are looking at the situation and seeing this rise in wealth and income gap especially the w

golden half my cash in bitcoin and then i thought that's credible foolish trade because bitcoin is going to eat gold as a store of value technology is acid you know and then surely if you can deem materialize gold into virtual gold which is what they point is all of the energy in the physical gold is going to drain into the virtual gold it would be like go will be like black berry was to apple computer you know and we used to use it people talked about it and you can't find them anywhere except in people's drawers anymore everything you're saying being in this community my software 9 years it echoes so much of that work and you mentioned safe dana this book the bitcoin standard you've been talking about it you read it it had an impact on you we've done safety in for 15 years and when the book came out i was gobsmacked this is like the rosetta stone of this whole industry it just is so perfect and but if in fact a year or wave of thinking goes into the c.e.o. suites around the world that right there is an awful lot of demand for a bit coy now also you've tweeted recently and i kind of wha

bound from a multi-year support level simultaneously the prices of both bitcoin and gold have dropped off so joining us now to stress are 2 bus coasting crypto analyst ben swann and c.e.o. of euro pacific capital peter schiff thank you both for being here now peter i want to start with you what do you make of this w g c report and where is gold headed. well 1st of all gold had a lot higher i agree with the report and the price of gold going to go up i think the world gold council that's actually underestimating just how high the price is going to rise because i think they're also underestimating how much inflation global central banks are going to create in particular the federal reserve and how much value the u.s. dollar is going to lose against other fee currencies but in particular against real money which is gold and i got to quit because i have to ask you this peter you have often been here touting the the popularity of gold why you should invest in it is there ever a time where you feel like it's not the right investment. well 1st of all i don't even look at gold bullion as an i

whether the dollar is strengthening or weakening against other currencies i think ultimately bitcoin is going to collapse underneath its own weight i just don't think bitcoin is a viable alternative to gold i don't think it's a store of value i agree that there are some people who mistakenly believe that it is and so they may buy it i think ben is overstating how much institutional money is actually moving in to bitcoin i think it's a tiny amount and i think that to the extent that institutions pension it is valid and are going to be correctly worried about inflation and a weak dollar they are far more likely to go to gold then to big coin and so i just would stay out of it i mean you could trade it but i think if you're going to trade you know trade the mining. sachs i think you've got a lot more upside potential there if you're a gambler and i think there's less downside risk now ben cohen did fall on wednesday by 4 percent but it defended the home held support zone of 11111200 ish are we going to see an even larger pullback over the next few days when we could see that but i don't

who don't have you know ability or have you know they feel like cheated that they didn't get any bitcoin and then they jump into all points well here is like the similar happening in public markets nicola the company kind of based on tesla you know with these electric trucks is estimated to earn $30000.00 in revenue for the 3rd quarter down from 36000 dollars and the 2nd quarter it has a market cap of $12600000000.00 this is 2020 right well what people are trading now are me miss but i've said that before that subtle is mostly valued as a like to fail the fraud was a huge mayme that changed the outcome of the 2016 presidential election tesla is mostly valued as a mean it's a concept elon musk is a cartoon character that is a brilliant marketer and a brilliant engineer but his company is not what $400000000000.00 but as a mean. it is worth $400000000000.00 and what nicola the car company realizes that they could out me me tesla as i'm am and they introduced their mean like company on to the exchange general motors was poised to buy this me because everyone wants to be in the main business

this is an incredibly important and seminal moment in the history of finance in america and bitcoin not tell you why up until now the entire strategy has been don't fight the fed and used the cheap money to buy back your own stock all the stock gains particularly in apple computer have been generated by buying back their own stock and it's made of possible through those 0 percent interest rates. from the fed what michael saylor his team at micro strategies are saying is that wait a minute we're not going to use that 0 percent money to buy back our own stock and give ourselves huge bonuses we're going to protect ourselves against all that money printing. and we're going to buy bitcoin so this is a sea change this is an inflection point this is like steve jobs introducing the smartphone this is incredibly important moment in the history of finance nobody on wall street understands this this company only has 2 analysts on wall street and they have very scant coverage because it's kind of a small cap company it's worth less than $2000000000.00 of that's growing now but once this sinks i

centralized finance of some of the money from bitcoin, from the classic bitcoin holders has moved oversome of these other coins coins by the name of sushi and wifi there's this new hot, sexy venture space called defy. that dragged some of the luster from the bitcoin community we've been bullish on bitcoin, buying on pullbacks, 14,000 and 20,000 in the next six to twelve months, if not higher. that's really just a fed story and uncertainty in the world >> sushi coin, that's a new one. mike, thank you. i think it dropped 34% today. >> open some sushi coin, trust me. >> i love sushi. mike novogratz, thank you. >> thanks a lot. >> earnings news here to report. pvh, i'll bring those numbers to you. the retailer who owns tommy hilfiger and calvin klein with huge bottom line beat reporting $0.13 adjusted on profitability. the expectation on this one was a loss of $2.43. the highest analyst was loss of $1.20 so that was way off the mark as far as revenues that was a beat, $1.85 billion, that's what they are reporting, $1.25. the story tremendous cost-cutting sg&a expenses down 24%. that's what

over time bitcoin will capture a larger and larger portion of that asset bitcoin is a couple hundred billion dollars in value when you have investors saying hey look it's okay to put 50, 100 basis points in this asset class it doesn't take a lot of money to move a large amount of the gold market into the bitcoin market >> what do you make of dave portnoy and his comments about bitcoin? >> he's an entertaining guy and, you know, look i think it's fantastic he's bringing his followers into the asset class whether buyers or sellers, liquidity is good. most people once you fall in love with bitcoin you tend to stake with bitcoin >> do you worry, those about how educated most folks are going to be about this class or is the whole idea you just want more people to know about it >> luno is focused on education. we're helping people >> thanks so much. we got to run. we appreciate it very, very much we got two big hours ahead we got two big hours ahead includten compdrucs for $50ice,n instead of paying thousands. all commission free online. schwab stock slices: an easy way to start investing

bitcoin was certainly selling off.ve caused a follow-on effect for robinhood traders in the equity market. mike: i'm impressed that it seems like you know what i am thinking. alix: you are always thinking bitcoin. [laughter] mike: the unique thing is it started in is here you -- in ethereum. this was getting a little bit expensive, and they started rolling over, but it is altogether now. we were all in the same tide. the tide got way too high, and is coming back a little. what is the s&p goes back to around 3000? that would mean a lot for things like commodities area what i see is bitcoin hovering around in thousand support, and even gold around $1900 support. these because i currencies should come out -- these quasi-currencies should come out ahead. guy: mike, always a pleasure. thank you for sharing with us. mike mcglone a bloomberg intelligence. what have we got coming up? we are going to become you down to the european close. today, we are tracking lower. we are also talking to this gentleman, who has a new habtoor

let's look at what happened in terms of bitcoin and gold. good for crypto lovers.tingly today, that did not work out. we saw gold down a touch and bitcoin up a touch. in general, you see this massive correlation. people potentially seeing it as a have been trade. it isrd michael saying safer than gold and cash. but overall, there is this saying that it is an ominous correlation going on in the market at the moment. sarah: not only is gold coming under pressure, but so is comfort, which would typically -- copper, which would typically be a sign. dr. copper. it ties into the real rates and inflation trade. you think about what is happening with the dollar right now. you look at the blue line right here. we are not going crazy. it is inverted here. we have seen the dollar rise. the strongest three day gain since back in april. that has inflation expectations fall on fiscal stimulus falling 20. tot is in turn -- falling zero. i will note that copper is not far off of its two-year highs hit in the past couple days. sending a pretty optimistic signal. caroline: up quite

also own bitcoin. if they start taking losses somewhere, they may be need to make it up somewhere else. if they have margin calls, it is time to sell some digital currency. that is just a theory of mine. i wonder what you think about the possibility of europe catching up? if it is the tech stocks that are the big problem, and we have said forever that europe underperforms the u.s. because we don't have any big tech stocks, does that mean that europe can be a safe haven if people are selling off u.s. tech stocks? reporter: i think that certainly could come into play. when we look at the action we saw late last week among u.s. tech underperformance, we did see cyclical stocks outperform. there was a day win stocks edged higher. -- there was a day when bank stocks edged higher. it is predicated on the economic recovery continuing to outperform with the u.s. on the back foot. given the fact that we are seeing this resurgence in virus cases in europe, that could feed into less of a risk bid. but certainly,

that and that that you know you've got $100000000.00 seto she's per bitcoin conceivably i'll throw this out there. a marketer wants to sell me something and just for on traits of my individual sovereignty is going to cost a fisa toshi just to get just a knock on the door precisely i've got agency they want my attention it and right now where we're confronted with a fire hose of images that we have no control over we feel overwhelmed this gives us back some control isn't a fair statement absolutely max brilliant you know we are in a any ocean of data and yet we're starving wisdom and i have this pyramid concept that the very bottom level is data and some from ation and knowledge and insight and then wisdom and part of that structural problem in society today i think is we reached our shannon limit our capacity to absorb new information because we're drowning in data that doesn't really serve us so it has had a by directional aspect you have agency and ownership of your context which you've been giving away free in the entire digital era i mean we made this deal with these free services a

much higher and that's a reflection of the value of the dollar going much much lower and kristie bitcoin prices have broke at $11000.00 again in preparation for another run up after falling back to its $10000.00 support but is it too early to expect another significant rally in bitcoin. well we have about 2 weeks of pretty low volatility right now as the cut the market remained stagnant so unlike previous rallies which we saw anything need the bitcoin surge only been going to move higher this time whereas all the other crypto can all point to fill in the red. tokens which had outperformed that point throughout all of us they have been underperforming the past several days so the big win is kind of rallying on its own the past 3 days accompanied by mega-fun all right so the news funding rates show that traders are continuing to short decline right now which suggests that this uptrend is on shorts being squeezed so the other half of it is that profits from there and other the buy tokens are now being cycled into that quine beating to increases in prices so there is a bit of a rotation taki

it doesn't always work. >> karen, you're in bitcoin.do you think of its performance as a safe haven? >> dan just touched on the correlation, obviously very high in fact, i think in the last two days have been far worse for bitcoin. i still believe in the long-term. i think the fundamentals of why i'm in it are setting up the same the fundamentals of why you're in it, the fereasons i'm stayin with bitcoin. >>> coming up more market turbulence means offensive zone the perfect time for another total request pafast money >>> today's selloff is rattling cages across the entire market as the dow drops nearly 800 points if you're worried today's pullback might be the beginning of more volatility, you're not alone. the options market is signaling the possibility of turbulent times ahead. mike khouw has the action. we've been flagging the rising vix along with the rising markets for days and wondering was what that might be signaling. was today the reckoning, so to speak? >> i think it certainly was a part of that reckoning last week we saw two

they comes in addition to what we have already seen with bitcoin.ewe are getting even possibilities of borrowing and lending and earning yield in a transparent and efficient manner. there are obviously still risks because it is still a young space but there are possibilities. and with nexo, we are partnering -fi guys and implementing some of the solutions because this is the future of finance as a whole. we have seen that through the institutional adoption and the guys coming into this space as well. it haset's be honest, been a dream scenario for you. you make money by lending out fiat. as the assets climb or remain so stable, that is the perfect environment. are you concerned at all about a downturn? antoni: not at this stage. wet time i was here in may, talked about how it seemed like a permanent barrier. the market has given strong support and now the 10,000 mark has another strong support. the risks are on the upside. we are in the perfect place because we are positioned at the bridge between the brave new world of the digital economy and the t

from such as bitcoin all type connel on this. a large amount this money that is being raised is probably not going. directly to fund the sky pixies people who actually straight into touch to fund our activities security analysts say that the longer die suspects remain stranded in these camps the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that was alleged to have committed a saudi ought to u.k. in london. thanks to choosing our to international live from brushwood knows a big choice so it's all the more important to us you've taken the time to watch now what if we don't commit up a tech giant apple tells russian news companies polluting us that ukraine's trying to ban our apps will. so what we've got to do is identify the threats that we have it's crazy to confront a shouldn't let it be an arms race based on off and s

from such as bitcoin all conall on this. a large amount of this money that is being raised is probably not going. directly to fund the scape or at least people who actually straight into touch to fund our activities security analysts say that the longer die suspects remain stranded in these cabs the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that was alleged to have committed a saudi ought to u.k. in london. it's quarter past 8 in the morning moscow time and if you do this we can hope it's going well this is a head to head giant apple tells russian news companies including i suppose but ukraine's trying to ban their ups will try and work out the reasoning for that one web. join me every thursday on the alex simon chill and i'll be speaking to guest of the world of politics sports business i'm showbusiness i'll s

from such as bitcoin all conall on this. a large amount of this money that is being raised is probably not going. directly to fund the scape or at least people actually straight into touch to fund our activities security analysts say the longer die suspects remain stranded in these camps the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that was alleged to have committed a saudi ought to u.k. in london. you're watching out international live from moscow hi there hope your weekend is going good this is coming up today apple tells the russian news companies that must be including us but that ukraine's trying to ban our apps here we go again and tell you about that after the break. because survival. of the stars. repatriations look at the rest 70. delegates at. record. 16 moscow time ukraine's us to ban the russian br

from such as bitcoin or con alliances. a large amount of this money that is being raised is probably not going to. directly to fund the sky put these people to actually straits and to dash to fund our activities security analysts say that the longer die suspects remain stranded in these camps the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that would lead to have committed a society ought to u.k. and london. progeny broadcasting round the world from russia this is r t international for you so watch into this is coming up tech giant apple tells russian news companies suppose that's us as well and that ukraine's trying to ban there will try to work out the reasoning behind that when we're back. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. dramatic. i don't see h

platforms such as bitcoin all conall on this. a large amount of this money that is being raised is probably not going. directly to fund the scalper these people actually straight into dutch to fund our activities security analysts say the longer diary suspects remain stranded in these camps the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that would lead to have committed a society ought to u.k. in london. a previously little known famine a spoke with an initial small print run has received a surprise publicity boost in france after a senior official called for it to be banned and adviser to the gender equality ministry said the title i hate men went too far. this book is obviously an ode to misandry which is clear from the summary in the title i would like to remind you that incitement to hatred on the basis of gender

from such as bitcoin or congo and has. a large amount of this money that is being raised it's probably not going to. directly to fund the sky put these people but actually straight into dutch to fund our activities security analysts say that the longer diary suspects remain stranded in these camps the higher the likelihood that they can escape and presents a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that would lead to have committed the saudi oil to u.k. and london. lastly we turn to some world news in brief asylum seekers have clashed with greek police after in one night without shelter thousands have appealed for help after a fire destroyed europe's biggest refugee camp on the island of left us officials say the facility where satellite by angry migrants they were upset at restrictions after more than 30 residents tested code positive. and tea for protesters have

from such as bitcoin all i pound a lot as. a large amount of this money that is being raised is probably not going. directly to fund the scan through these people but actually straight into dutch to fund our activities security analysts say that the longer die suspects remain stranded in these camps the higher the likelihood that they can escape and present a whole new security challenge for the region pressure will continue to mount on western governments to finally take responsibility for their own citizens and put them on trial back at home for the crimes that was alleged to have committed a saudi ought to u.k. in london. this is how it's international around the world from moscow in our h.q. thank you for watching this weekend coming up this is one of the stories take child apple tells russian news companies that's us that ukraine's trying to ban there as well not just us we'll tell you all about it whereby. so what we've got to do is identify the threats that we have it's crazy. let it be an arms race. dramatic. very crit