coinbase is more equity, but i see a lot of the equity money is now going towards bitcoin, and bitcoinbecoming potentially the risk off asset because funds are flowing towards bitcoin. generally, very much from gold. the rest of the space looks as a bond portfolio. it is a compliment. it is a question of where the next levels are in what my trip it up. -- might trip it up. taylor: i want to push back on that. mike: here is one of the most significant things that happens in markets. observing human nature. classic human nature that you have been investing in gold or assets for who knows how long, that what i see shifting this year, if you do not put maybe 100 units into bitcoin, you are at greater risk of looking like a fool 10 years from now, versus 1% or 2%, not a big deal. everybody is having those discussions. it is just a question of getting into the space. that is where i secret -- where i see a trickle up bid. it's not having those sharp corrections or sharp rallies. maybe we are going to continue to migrate. i think we are going to 70 and if it takes longer, that is better rathe

it carried bitcoin low with it.s interesting to see ether maintained its gains, trading at a record high of around 2400 dollars. all the narratives around mainstream, cryptocurrencies becoming part in parcels of normal life. if there is one guy you want to hear from on a day like today about mainstream and normal life, it is probably the fed chair jay powell. here is what he had to say. jerome: what people call cryptocurrencies, they are really vehicles or speculation. no one is using them for payments, for example, like the dollar. but they are using them for is to speculate. it is a little like gold. for thousands of years, human beings have given gold this special value that it does not have from an industrial standpoint, but for thousands of years they have done that. bitcoin is much more like that. cryptocurrencies are much more like that. ed: even so, coming into today into wednesday with the coinbase listing, there was so much interchange, so much relationship between the anticipation with that and bitcoin. t

bitcoin and when i discovered bitcoin known among bitcoin is as the bitcoin moment you think my god it's finally here. it's time that used to be now we've got digital cash that's the. logical to say ok we want to accept this payment here to corner you put up a sign we accept big point here. back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. we didn't realize at the time but it was also an historic moment because it was the 1st time that i knew what i'd used to pay for something physical and a bricks and mortar store. became a meeting place for a big point founders from. another well known 1st generation stephan tomas. he lives in the us but he story is tragic he lost the past but to his digital bitcoin one it's in can a monkey access usenet less of me and. it was it was i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kinds of recovery options. i sp

bitcoin and when i discovered bitcoin known among bitcoin is as the bitcoin moment. my god it's finally here. it's time that used to be now we've got digital cash. logical to say ok we want to accept this payment here and you a bit corny put up a sign we accept big point here. and then back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. i didn't realize at the time but it was also an historic moment because it was the 1st time that i knew when i'd used bitcoin to pay for something physical in a bricks and mortar store. became a meeting place for a big point fans from. another well known 1st generation big fan tomas. he lives in the u.s. but his story is tragic he lost the possibility his digital big point one it's and can they learn to access usenet less of me and. it was it was my home so i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there

many just fund worth billions and he advises investing in bitcoin. i suspect that acceptance will grow in the next few years partly driven by greed because the prices are clearly going up and up that's when people say now i want in on this but also because it's simply becoming socially acceptable there was a months long period where the price of it going soared due to investors discovering its potential as a financial investment. in terms of bitcoin i'm very much in a speculative realm i see it as more of a security than a currency. but the high demand for beat corn has also led to massive energy consumption to keep the system going just look at the server in china. one bitcoin transaction releases as much to you and to as $100000.00 credit card payments. let's think about climate change and you said here are eco friendly but if you think about how much an artist consumptive to produce to keep the whole system of bitcoin alive it can be compared with the whole country oh you mean ok that's maybe your argument most of the energy that is needed for the

bitcoin and when i discovered bitcoin known among bitcoin is as the big coin moment you think my godit's finally here. it's time that used to be now we've got digital cash. logical to say ok we want to accept this payment here to be a bit corny put up a sign we accept big here. and then back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. we didn't realise at the time but it was also an historic moment because it was the 1st time that i knew when i would use bitcoin to pay for something physical and a bricks and mortar store. became a meeting place for a big point fans from. another well known 1st generation. tomas. he lives in the us but he story is tragic he lost the possibility his digital big client wants and can no longer access usenet less of me as. it was it was i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kinds of recovery options. i s

what you have on bitcoin that fixed supply, 21 million bitcoins. as more people come to the space, institutional investors come to the space, that will legitimatize bitcoin and that is driving demand. 100 billion-dollar value of bitcoin is not unrealistic. you might get to $120,000 by the end. year. there are other coins in the mix. there are two trillion in coins. that number is expected to grow to 10 trillion in coins the next three years. if you're in the middle of that exchange process, coinbase is the nasdaq of cryptocurrencies, direct to consumer minus the brokerage is what is giving them the lift. people are betting in early being in on cryptocurrency exchanges. they're saying regulation, they will work it out, figure it out but by then the momentum of institutional investors along with the day traders and consumer traders will be in play. neil: all right. i raise these concerns, guys because i want to be fair to everybody. i want to look at the bullish argument. it is substantial there, you just outlined it yourself. i want to be aware of s

particularly bitcoin having that scarcity value of 21 million bitcoin.e more people will start to recognize the value that bitcoin has. in christine lagarde, one of her biggest criticisms of bitcoin is that it provides an escape route from fiat currencies and the negative interest rates. once they have control through central-bank digital currencies. but i think more and more people will consider that as coming back to that store value proposition. juliette: another criticism is carbon emissions. bitcoin mining is consuming 66 times more electricity than it did back in late 2015. do you think there will be more regulatory scrutiny on carbon emissions, and do you think it will impact investors that are trying to be more green and clean? richard: i think that the esg argument is the last thing that people are hanging onto, in terms of the negative criticism of bitcoin. sure, it uses a lot of electricity, but i could tell you used to be a cryptocurrency mining company prior to rolling out the full financial services business and we divested our cryptocurren

bitcoin and when i discovered bitcoin known among bitcoin is as the bitcoin moment. my god it's finally here. it's time it is to be now we've got digital cash. for me was logical to say ok we want to accept this payment here to be a bit corny put up a sign we accept big point here. and then back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. i didn't realize at the time but it was also an historic moment because it was the 1st time that i knew what i would use to pay for something physical and a bricks and mortar store. became a meeting place for a big point fans from. another well known 1st generation. tomas. he lives in the u.s. but his story is tragic he lost the possibility he's digital bitcoin one it's and can he learn to access usenet less of me and. it was it was i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kinds of re

i don't think the bitcoin story is over, i wouldn't look just at bitcoin and say crypto is over but were seeing a rotation to other crypto currency. >> we talked to pantera yesterday who said the non-bitcoin, non-ethereum market has vastly increased and his pick right now is polka dot. james mcdonald you're in bitcoin through an etf, i believe, how do you feel about this you pull back >> what's interesting about bitcoin there's so much mystique that it draws a lot of attention and can be controversial holding. what's different from that mystique is this is a dip and ripped type of security. on the 19th that big plummet did not get followed by buying that was interesting we can see here around the $54,000, $55,000 level support didn't come in so this is a new phase of bitcoin where pressure is coming in that money is going else #whereiroot. there's been a elsewhere. there's been a lot of headlines in other coins and people will continue to like this sector and enjoy the run up, doubling this year, will look elsewhere in the crypto space i think the dip in the rip trend stopped in bitcoi

if you feel that way about bitcoin, try not to use the word allocation when you're talking about bitcoinriday, you're going to have a lot of work to do on monday. because they're not going to be there. carlton, what should investors be thinking about? >> well, jack's going to hate me because i am going to talk about allocation here. but so you do want to start small. you don't put all your money in the lottery. so for bitcoin, the allocation of the portfolio, less than 3%. that's enough for a meaningful investment but also enough to protect if it goes the ore way. it's the type of investment you want to dollar co[t■ average ino and rebalance. typically, we rebalance our portfolios once or twice a year. bitcoin, when it starts to get out of whack, you either want to trim it back down or use it as an opportunity to get back in. jack: what are some vehicles? i know it's not like buying a stock on the stock exchange. >> you can buy it on square, but you can also buy some of the index funds or the gray scale bitcoin trust. there are higher fees for this, so you do have to take that into accou

bitcoin and when i discovered bitcoin known among bitcoin is as the big coin moment. my god it's finally here. somebody has to do now we've got digital cash. logical to say ok we want to accept this payment here acted on your bit corny put up a sign we accept big point here. and then back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. we didn't realize at the time but it was also an historic moment because it was the 1st time that anyone had used to pay for something physical and a bricks and mortar store. became a meeting place for big coin fans from. another well known 1st generation. he lives in the u.s. but his story is tragic he lost the past but to his digital big point one it's in can no longer access usenet less of me and. it was this was my home so i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kinds of recovery options

so the bitcoin critics who argue bitcoin is bad for the environment conflate energy consumption withand pollution. so what we tried to lay out in the most recent open source model is that bitcoin mining could be a net positive to the environment by accelerating at adoption of renewables and then we lay out the specific implications that it could have for solar energy systems in particular >> still don't quite get it. we were just showing a graphic from bank of america merrill lynch which shows that not a lot of other human activesity generate a higher carbon footprint per dollar and $1 billion in bitcoin purchases is equal to the co2 emissions of 1.4 cars driven in a year and 1.2 million cars driven in one year and we're seeing 1.5 and coal and fire and power plants 632,000 home energies use for one year is that wrong? >> yeah, let me first address that framing and then we could get into the actual model and how it relates to solar energy systems. so a lot of the analysis that you're seeing here is that transaction energy cost analysis, which a lot of people reference in and our poli

it's largely a copy of bitcoin.he first rule of investing is don't invest in things you don't understand. i was pretty concerned and shared my comments that when it comes to dogecoin, buyer beware. matt: i understand that and i get you, but i'm going to say there's a heck of a lot of bitcoin investors who have no idea how it works either and who probably -- maybe more who don't understand the use case. what is the purpose of bitcoin? >> bitcoin is serving as a store of value. it is replacing gold. the chairman of the federal reserve at the top of the monetary pyramid is saying it is replacing gold and is acting and behaving like gold and people are using it for that use case. you don't have anything like that for dogecoin. the only thing dogecoin has going for it is a marketing campaign. brands selling it on service -- on social media and celebrities talking about it. there's no real technical people working on this project, it's just marketing and that is what is dangerous. if you don't understand what it is or how

bitcoin -- seven year note, 1.26%. tesla's bet on bitcoin is helping.market, we did see tesla shares slumped a bit. joining us now, we want to get to abb ceo bjoern rosengren. thank you so much for joining us. you beat on the first quarter and you are also looking at profits higher for the entire you. you did -- entire year. you did alert us about that. what is driving the profit increase? bjoern: good morning and thank you for having. we can see -- for having me. we can see a stronger recovery in all our markets, but also segments that we are operating in. at the same time, i think also on the financial performance from the company has exceeded our expectations during this quarter. annmarie: ok, also something else you are alerted to us this morning is about potentially an ipo for e-mobility. can you give us more details? bjoern: we have an exciting business. we are market leaders when it comes to charging of electric cars. this is a business we have had for quite some time. it is growing extremely fast. since 2016, we have a growth of up to 15%. you c

into the fray whether bitcoin is hyped up and overvalued.he kansas city chiefs player is planning to take his entire base salary, 920,000 dollars u.s., in bitcoin. you said earlier that this makes sense. why don't you tell me why you think so. matt: i'm not sure it makes sense. i am not forecasting the future of the value of bitcoin but i think it's interesting in that this is not some lunatic sports superhero that is just buying bentleys for everyone. according to his financial advisor, he is a fairly conservative dude. he still drives the same 2009 dodge pickup he bought in high school and has been saving his money, putting it away and is known as quite frugal despite his wild hair. it's interesting he made this decision to translate -- transfer his entire base salary into bitcoin. the numbers sound so much smaller. he's only going to get 16 point -- 16.2 bitcoin at today's rate. amanda: that's very true. it gets to our next guest because in order to do this transaction, he needs a way to convert. that is done in this case with a company c

bitcoin now at 64, 450. we don't know when we will get the first trade in coinbase, but if it's before 12 noon, you will see it here. what we do see now is the first earnings reports of the new season. big banks come out first and investment-- investor seem to like what they see. goldman sachs, j.p. morgan, huge profits, huge revenue. more on that moment. overall, the markets dominated by the start of trading in coinbase with the dow down a fraction, s&p down a fraction. we have vaccine news, european regulators are about to rule on j&j's vaccine end of the controversy over blood clots. u.s. put that vaccine on pause, that's contentious. will it make more people hesitant to get any kind of shot? j&j stock down again. meanwhile, pfizer says it can increase its vaccine production by maybe 10% to make up for any shortfall or problems with j&j. moderna says its vaccine is still 90% effective, six months after the second dose. pfizer, moderna on the upside pair. another night of riots in minneapolis is out of con

it's regulated by them but bitcoin security, like a bitcoin etf or ico, coins, they are regulated by the sec he'll spend alot of time tryin to figure out a new regulatory scheme for these crypto assets how important is it for company like coinbase but the entire industry that there is a more easy way, if you will, for many investors to get in on this which could include things like exchange traded funds that buy these on behalf of knewmutuallyl clients? >> that's why this listing is important because coinbase is seen as a gateway to the mainstream world it's relatively easy to use. it's trusted and new investors to get into the market by the same token, that could be a risk to coin base over the long term because coin base will start seeing more competition from banks if there is an etf, will that pose a risk to coin base or if a bank allows to start buying crypto out of your checking account, will people use coinbase as it gets more and more main mainstream, coinbase will have to maintain that >> spread compression is inevitable come petitors will eke their wa into part of your pie.

i want to go with bitcoin from the big tech names. you were mentioning we are expecting those earnings. kicking it off with amazon, higher on a reported stock slip. that's not the reason apple traded higher today, this was after a $430 billion investment from apple. that will be pretty focused here in the states. you also have spotify gains on plans they could raise prices. once again, more revenue for that music company. lastly, the global autonomous electric vehicle etf. when you see big tech names, they tend to take electric vehicle makers with it. that brings me to tesla. the hot story up 1.2% in regular trading. down after hours, even though they did beat those estimates. why are they dropping? traders on the floor say it has to do with options pricing and perhaps it wasn't as big as some were expecting. caroline: i love it. i also love the banishing of the vaccine as well. katie grayfield and critique group just setting us up to describe a little bit deeper into tesla's first curve -- quarter earnings. tesla top holding in the f

we don't expect bitcoin to completely go away. just don't think it's going to become this rival to fiat money that some people claim it will be. manus: it's a rip more of a story. for public disclosure, i have no -- here we go. do i want to own and exchange, a currency, or piece of blockchain? what is the smart way forward in crypto? ed: we think the blockchain is here to stay. that can have all sorts of uses. we are seeing it used in collectibles, non-fungible tokens for the art world is going crazy about. if you can get investments that capture the various different blockchain protocols, that can be a really good investment. that doesn't just rest on bitcoin going to many trillions of dollars market cap. it doesn't have to do that for the blockchain to become a marketable and profitable platform for which payment companies can leverage off annmarie:. thank you so much for that, ed smith, joining us this morning. just ahead, the biden administration is said to be readying sanctions against russia over the solarwinds hack an alleg

bitcoin is going back in.ere's the simple risk of what if 10, 20, when hindered years from now -- 20, 100 years from now, what if gold is replaced by this digital gold now? tom: in honor of abrdn, we are going to rip up the script and get bitcoin. james dimon and his bank, i feel like they've got to do a bitcoin etf and it is going to be actively managed. how do you get actively managed? mike: that i am kind of curious about because the worst thing to do with bitcoin is to try to trade it. the best thing is to hold it and put it away. at least, history has proved that. to me the key thing is this major shift forward. remember, who invented the digital camera? kodak. then what happened to kodak? what happened to blockbuster? netflix? tom: i lived and breathed open be first for years. are you telling me american industry is going to kodak-z -- is going to kodak-ize over the next 20 years? mike: they have to adapt, or they risk falling behind. tom: the super league would have made it if they had just done a digit

bitcoin is not -- if bitcoin was not as hot it has been, would there be such a demand?n the others, is part of the coin boom, and we have seen record prices today, would it be as significant if we would see more storage built around legitimacy and credibility of the crypto world. this year we have had so many examples of that. guests who have come on bloomberg, high net worth individuals who have been vocal about their holdings of cryptocurrencies. the obvious stories like companies -- stories from companies like tesla and elon musk buying bitcoin. the coin-based listing, in many ways, is this further to opportunities you haven't -- you have a conversation around cryptocurrency. it all comes together in that way. in terms of performance, this is a direct listing, slightly different than a traditional ipo. it is something the market is getting used to. we have had spotify, palantir who have all gone through this process. i want to -- >> i want to ask, you're up there in toronto, i want to think of it as just north of ohio, when you're geographically above western new yor

bitcoin's already there. [laughter] early this morning the original crypto raised the roof, blasting through $63,000, and right now look at this price, we're at $62,826, so just hovering slightly below that. no doubt coinbase's debut tomorrow is lighting that fuse. our best indication of how coinbase's shares may open actually coming out right now. futures are trading in germany already, and it appears coin's opening price will see a 9% jump. that could all change overnight, and tomorrow, but what was a $100 billion valuation yesterday for coinbase is now, in theory, $147 billion. keep in mind also the sec filing suggests a valuation of $68 billion, but we know the market is not necessarily a rational-thinking thing. while coinbase is the first, it will not be the last are. joining us now, jesse powell, the ceo of kraken, the world's fourth largest digital currency exchange. jesse, what's your reaction to this new stratosphere bitcoin is in, the price it hit overnight, more than $63,400, how much does coinbas

. >>> and bitcoin bouncing back. up a couple thousand as the bulls use the pullback to buy more some say another crypto that should be on your radar. >>> vaccines keep booming. now j&j is getting approval as cases fall by half in america. >>> president biden is pushing his tax and spend plan we'll speak with the top tax advisers in the world and what she is telling corporate clients ahead of the big speech on wednesday. >>> you have seen him dance. unfortunately. you have seen him drive and seen him smoke. now get ready to see elon musk in a new light live on saturday night it is monday, april 26th this is "worldwide exchange" here on cnbc ♪ ♪ >>> good morning, good afternoon, good evening. welcome from wherever in the world you may be watching. i'm brian sullivan hope you had a great weekend thanks for joining us on this monday let's kickoff monday morning with stock futures they are mixed dow futures are higher nasdaq futures are a little lower. nasdaq futures down 44 they are down. either way, we see if the april

i mean, it's a peak, it's a peak in the term bitcoin made an all-time high today but i don't think it's the peak at all it makes sense to talk about it, all of the stars line up and price action lends itself to exactly that not that i'm nearly as well-versed bk has forgotten more about this than i learned this is just one of the steps along the way. in six months we'll have a different conversation in terms of the market cap of cryptocurrencies closer to $5 trillion than the $2 trillion it is now a peak so not the peak. in my opinion. >> tim, there's a notion maybe this marked some sort of a peak at least within this spectrum of crypto craze we've seen in the past onth, year or so, or how coinbase itself traded because there were very high expectations for this stock. it was trading on the exchange ftx overseas, a futures contract tied to coinbase, that was expecting $600 a share we didn't go anywhere near that today. but what's your take >> well, i mean, look, the fact of the matter is coinbase validates, think of the subscriber base, think of the user base, you have 56 million, first

is still worth one bitcoin.ll these fiat currencies are very volatile against bitcoin as they slowly disappear from view. we have a better currency, when you have a better anything it's slowly but surely moves through the population and people say hey, this is better. i can save 2.5 to 4% every time i swipe my credit card i can do micro payments. i can send money overseas. i can pay employees overseas and if you pay in bitcoin, boy, those employees are very happy, particularly if they're in argentina or venezuela or nigeria because those currencies drop significantly every single year talk about trust in a government if you don't trust your government to hold the currency high enough, then there is also no incentive to build anything of great value because you realize that it's going to just drop 70% a year. so you build up something of great value and then every year the currency drops 70% in argentina or nigeria, they love bitcoin there. they're saying oh, my gosh, it's our savior i can build something of valu

the carbon footprint and energy use of bitcoin is tied to the price of bitcoin.ors violin -- pile in it makes the problem worse. we need to get to know just a green market but a low energy consumption crypto market. it is not necessary to be using that kind of energy. we have proven other methods beyond mining and they are low energy and low carbon. xrp's ledger uses the energy of 50 u.s. homes and is very carbon neutral. bitcoin is using 12 million u.s. homes and growing rapidly. we don't have to do it that way. hats off to the etherium folks. they are switching over. matt: a lot of people pitch bitcoin mining operations to me. i don't know why. there was no way i can finance that sort of thing. it is always near a hydro-source or a solar power source or nuclear energy, all of which have no carbon emissions. just last week, kathy wood said bitcoin encourages people to use more renewable energy. is that incorrect? i can't understand how these calculations are made in light of the fact that so much bitcoin is mind with renewables. chris: the report endorsed by squ

bitcoin isn't good for everyday purchases let's listen to my ex-pres. then if that ever happens it's still decades away hunger rome runs a crypto currency consulting firm he has been following bitcoin for years. obviously there's the volatility of decline to consider which discourages people from spending it. and there's always the question why should i spend money today when it may be worth more tomorrow it is time to get some help and some support it's going pretty well already. live out many just fun to worth billions and he advises investing in bitcoin. i suspect that acceptance will grow in the next few years partly driven by greed because the prices are clearly going up and up that's when people say now i want in on this but also because it's simply becoming socially acceptable there was a months long period where the price of bitcoin soared due to investors discovering its potential as a financial investment. in terms of bitcoin i'm very much in the speculative realm i see it as more of a security than a currency. but behind i'm on 4 bit coin has

the tesla bitcoin act -- after hours action, whatever's going on there.atie: it's a pretty interesting dynamic because tesla has driven sentiment in the speculative tech space but maybe it gets handed off towards bitcoin because bitcoin obviously is rallying and is lifting the rest of that speculative tech space and we will see how things fair tomorrow if the move gains some steam. if you look at options beforehand, the -- implied move was 6.2% and we are not at that level yet. romaine: a relatively volatile stock, down right now in after hours trading, i'm sure we will catch up with you again soon, katie. higher prices on the shelves? wheat, corn, soybeans, the backbone of the worlds diet unless you avoid grain. we will talk about that with a professor from the university of illinois. that's in a minute. this is bloomberg. ♪ romaine: paula -- all right, a rally in crop prices and prices could spill over into grocery store shelves. 80% of the stuff in there is corn, wheat, soy, or some derivative of it. caroline: corn syrup. joe: corn syrup flavored coin.

we are seeing bitcoin up, for we were seeing bitcoin up over $63,000. i will pull it up myself real quick and take a look. the question is, is interest in coinbase that is boosting bitcoin, we were asking yesterday, if coinbase would suck some flows out of the crypto space? it is pretty fascinating to watch. we will dig into the details with president and founder of the chamber of digital commerce. this is bloomberg. ♪ want your workout to be easier, more effective, and more convenient? then you should try aerotrainer by golo. the new full body workout that you can do at home or anywhere. it's great for planks, squats, core, and glutes. you'll strengthen and tone muscles, relieve back pain, and reduce stress. it's also great for yoga and pilates. get noticeable results in just ten minutes a day. (woman) aerotrainer makes me want to workout. look at me. it works 100%. (host) all of this is a $300 value, but through this special offer, you can get the entire aerotrainer system for just four easy payments of $19.95. and if you order today, we'll also inclu

some big buzz on bitcoin today after grayscale announced plans to convert its popular bitcoin trust intoyscale's bitcoin trust is more than $30 billion in assets under management is that more than 65 year to date, but it has trailed bitcoin this year. joining us is grayscale ceo michael sonnenshein. michael, great to have you with us >> thanks for having me. >> you said that in the life scale of all the products this was going to be the eventual next step, converting this trust into an etf. i wonder from a business perspective what happens to that 2% management fee that you collect on tbc whenever it does convert, whenever the regulators give you the go ahead. >> well, we put out this announcement today, melissa, to really ensure that investor nose that we're committed to converting gbtc into an etf. we've obviously seen these compressed etf market when there is competing offerings out there, and we likely feel that the same will happen when bitcoin etfs become a reality. we say when an etf does happen, and gbtc does convert, you'll also see the fee come down as well do >> you think that

would you have taken bitcoin >> yeah.itcoin was where i was going and definitely was the one that was on my mind for the first so got to pick first and what i expected eighth pick unlucky but it's all good. >> andre iguodala is on the clock. now see what they love. >> you love lisa sue. >> they reported a great quarter. i'm sure what josh is taking into account is the xilinx close. not as familiar as i should be with josh's work but obvious youth is not wasted on this man. i think it's a brilliant pick. >> highest compliment. >> amd is a high pick. one year not a winner. last time it was and drove a player to the top spot or number two. josh richards will have a hard time getting dates >> poor guy. >> poor guy. >> lonely. >> welcome back, andre u you have been a friend of the program for years. came off a win last night beating the spurs 116-111. congratulations on that. you are an investor and an author your book is fantastic welcome back what do you pick >> thank you glad to be here right now. got the ninth slot which w

bitcoin is not digital gold. gold is a shiny rock bitcoin is not a shiny rock. and i say that in the bluntest way possible bitcoin is not only an asset but a building block for a new financial type of infrastructure that's global in nature, can bring a lot of liquidity and connectivity to markets. we're seeing this with a tremendous exposure of activity in the decentralized finance space. bitcoin potential in my view is much greater than gold's $9 trillion market cap, so i don't want to constrain bitcoin to the gold narrative they're two very different things >> always great to speak with you. thank you. >>> coming up, burritos and burgers, how we've got the results of the latest survey where american teens are eating and spending their money plus brand loyalty for one of those is at a record high among teens. we'll tell you what it is. "the exchange" will be right back when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a p

even bitcoin trying to get there. joe: exactly right.the bloomberg galaxy crypto index continuing to rise. it's had a pretty good year, up 760%. and of course we have the big coinbase to direct listing later joining us to discuss, jill carlson, cofounder of open money initiative. jill, you do a lot of work into crypto space, a lot of investing in that area. does coinbase have a lock on its business, or are there new models or other competitors in this world of trading and crypto brokerages that could incur onto coinbase's space? jill: wow, you are going right for the jugular there, joe. here i have all of these talking points prepared around how coinbase is going to skyrocket, how people are underestimating it and under evaluating it. but i do think you are touching on something important here, the competitive landscape and thinking about what we in venture capital like to call the moat around business. it is certainly true that if you look at crypto exchanges, crypto custodians and the various business models coinbase has, if you look a

coinbase is getting a boost from bitcoin's recent price action.got some new numbers from robinhood this week showing that start up is seeing similar growth if march alone, robinhood sought 3.5 million clients trade crypto for the first time that was new and existing users. robinhood seen about three million crypto traders per month to start this year to put that in context the monthly averages last year were in the low 100,000s. it has 9.5 million people trading. this could be welcome news for other company, crypto trading has proven to be pretty profitable this week coin base reported 1.8 billion in revenue for the first quarter. it was almost entirely from trading fees and more than the company made in all of last year ceo bryan armstrong gave credit to bitcoin's rally for that wind fall square in its fourth quarter reported the same revenue just from bitcoin trading nap was a 10x increase from a year earlier. square executives said the users who do trade bitcoin tend to be more engaged and spend more overall. square stock is up double digits th

as a bitcoin listing and a few days later i had an offer in u.s. could offer. >> reporter: and that may be the biggest issue for bitcoin in today's ultra competitive real estate market. demand is so high that sellers are likely to get multiple offers in dollars before bitcoin ever enters the picture. that said on the ultrahigh end which is less competitive and where international buyers play, listing in bitcoin will garner more attention and buzz about the property and could ultimately lead to a faster sale back to you guys >>> diana, this to me feels like a lot of hype in arket we looked at bitcoin and it's rise in last year and last few months if you think bitcoin is going to the moon why would you spend that as a transfer of value. have any homes -- how many homes do you know have been sold using bitcoin? has anyone gotten to that point? >> reporter: absolutely. there's been a couple of dozen being sold in california you're right about people perhaps wanting to hold on to bitcoin now but have you seen home prices because they are going up pretty

right now, bitcoin is being seen as that place. bitcoin be what we used to buy shoes or sunglasses or diet coke. you will see stable coins, central bank issued digital currency, vying for that space. annmarie: galaxy digital founder and ceo talking about crypto as part of what he calls a blockchain boom. crypto assets are showing sign of a diversions. average price tumbled 70% from a peak in february. meanwhile, cryptocurrencies continue their rise after their total market pushed past $2 trillion. the price of bitcoin is hovering around the $58,000 mark. ethereum is up 100 -- 180% year to date. joining us now is antoni trenchev. you say in your notes that there's a fork in the road for bitcoin. do you think the next 25% is going to the upside or the downside? antoni: it really depends on the price action that we see by the middle of april. we are either going to 75,000, and weep your through 60 k by midmonth. i'm afraid we are going to see a pullback towards $45,000 for bitcoin. you know, keeping the bigger picture in front of us,

coin and when i discovered bitcoin known among bitcoin is as the big coin moment you think my god it's finally here this is it somebody has to do now we've got digital cash. logical to say ok we want to accept this payment here to you and your bitcoin your kind of put up a sign we accept big here. and then back then no one knew what it was there were maybe one or 2 berliners online also interested so i met up with one of them here go and then he paid for his burger and beer and bitcoin and wow that was an incredible feeling. i didn't realize at the time but it was also an historic moment because it was the 1st time that i knew when i would use big money to pay for something physical and a bricks and mortar store. became a meeting place for big point fans from. another well known 1st generation. he lives in the u.s. but his story is tragic he's also the possibility he's digital big point one it's and can no longer access usenet less of me and. it was it was i didn't know what to do but as a developer and a tech person of course i thought about ways to restore the data there are all kind

bitcoin topped 64,000.s with banks in focus, jpmorgan, goldman and wells fargo all releasing their numbers this

if bitcoin was the only crypto currency in existence, based on that enterprise value, bitcoin shoulded or valued. they need to share the market cap with other currencies. so i'm not surprised, we're in a market that lacks the understanding of its intr valuation. there is such volatility, people should realize what the valuation of bitcoin, where it comes from, the transaction processing, from the fees from transaction processing and not just talk about it as a currency which i think just disturbs or muddies the water as to what action bitcoin is. manus: the natural thing is, what is the single biggest threat to bitcoin? is it the creation of a central bank, crypto currency? ashish: not really, i think it's a competition between transactions between networks. as long as bitcoin can display that it's transaction processing network is cheaper, it's much more efficient and accessible. i think there is a place for both currencies and another private transaction posting, we have a number of transaction posts that exist right now. it is not impossible that you can see people being able to t

mike: listen, i think bitcoin has had its cycle. we had a crash in 2017 and now we are in a massive adoption cycle. so bitcoin is going higher. same thing with ethereum. ethereum went from 1380, now all the way back to 2300, 2400. use cases are going higher and higher. all nft's are being built on ethereum, the bulk of central bank issued currencies, stable coins are going on a cerium. and a lot of the projects are being built on a cerium. -- on ethereum. the more people use the network, the higher prices are going to go. in the nft space, we have some crazy prices. i don't think someone else is going to pay $69 million for a beetle. that money is coming from the crypto economy. it was not a buyer who bid 69 billion, it was two wealthy crypto people. there is over $2 trillion of wealth in crypto that didn't exist 10 years ago. it did not exist really three years ago. so that is real money, so there is new consumers that are spending things that matter to them. so we are going to see these two economies merge. we are a half percent o

that bitcoin used to deliver. >> it's kind of like, bitcoin is not all of the same way that the internetny. so as investors get interested in etherium, it allows people to invest in more things. they're all going up and some of the newer tokens going up more than the mega caps bitcoin >> you deal with institutional investors. i'm curious, do you think there's going to be a day when goouggenheim doesn't allow to invest in bitcoin but other coins which you're saying have a lot of promise >> so institutions are investing across the spectrum. we have investors in funds that have 30 or 40 different coins in our portfolios you're seeing it it's not like a light switch where one day, every institution is going to be investment. it's a process of a couple of years. >> what's your top pick in terms of these non-bitcoin no non-etherium coins. >> more scapability, that would be my pick >> polka dot we have to look that one up. always great to get your thoughts thank you. >> thank you >> dan morehead of pantera capital. potentially a great asset to invest in. if you believe the projections. >> yeah.