bitcoin futures in an actively managed fashion.eople are holding these in retirement accounts, inside mutual funds and other etf's, looking for bitcoin exposure. given the product today does trade at a discount, a lot of investors think about buying bitcoin exposure at a discount as opposed to what the capital would do if they were buying bitcoin in the spot market. they see that certainly as a compelling opportunity, knowing that up conversion to an etf, that differential would be arbitraged away. taylor: it is interesting on days like today when you talk about a futures etf, the potential for a spot etf, it's bitcoin only. a lot of people argued bitcoin was great, but there are other things like ethereum. is it too soon to start talking about those developments as etf's? michael: i don't know if it is ever too soon. certainly the success of grayscale etherium, the largest ethereum fund in the world, certainly tells of the story that investors are diversifying away from just bitcoin and even beyond just ethereum. earlier this week

is poised to approve a bitcoin futures etf but not a plaur play bitcoin etf. they are arguing that the cost of rolling over into futures contracts for that futures bitcoin etf every month can be very high and won't necessarily exactly track bitcoin as well. that's true. however, most into crypto and etf community seem happy with half a loaf rather than none at all. s.e.c. chair gary gensler has indicated he's very concerned about fraud and manipulation on crypto exchanges, approving a regulated futures bitcoin etf would remove some of those concerns over custody and fraud as well. and show the pro shares etf begin trading on tuesday, there are four other futures etfs that will likely begin trading in the days and weeks ahead what happened, there is pressure on gensler to do something, a confluence of two big forces, the etf community and the crypto community who both want something to get going right now. it looks like for the moment a futures bitcoin etf is in the cards. >> how did the pro shares one end up becoming the first out of the gate are there any cha

bitcoin is having a decent day. new record territory for bitcoin.t its worth, bloomberg had a chance to catch up with the former goldman sachs ceo. he is spending his time on philanthropy and trading. >> a lot of bright people think it has a bright future. i am telling you, i have my whole foot and four toes in the old world and it is not something i gravitate to. i remember when they were auctioning off spectrum for cell phones, and saying, why would anyone need a spare cell phone? just pull up to a phone booth. the point is, there are a lot of things in this world that have worked out awfully well. >> you sound, for someone who used to run a bank, pretty constructive. >> i ran a bank, i ran risk. you have to separate fact from opinion. nobody knows the future. there are all sorts of things. there are a lot of things that i could not and would not have anticipated and no one else would have, either. to just come out and say a market that is already in excess of $2 trillion, the faces regulatory headwinds that a lot of people do not like and would e

we are seeing bitcoin's adoption makes sense when you understand bitcoin as an infrastructure, so bitcoin offers a platform for people across the world to be able to store value. the network in its mature state shows bitcoin as a payment network that allows el salvador to come on, so to run through a few interesting figures. through a lightning network, there are over 3 million salvadoreans that now use bitcoin. caroline: what does lightning network mean? . it is -- alyse: it is bitcoin's network. it is nearly free global payments. that means this, that, or this. romaine: with adoption beyond el salvador in more developed markets in the u.s., we have not quite seen as a payment mechanism caps on quite as fast. what gets us there? alyse: this need space. in el salvador, you go back a moment, the population 70% is under banked, so it makes sense people would come online as global systems to bitcoin, lightning networks, and three made people on lightning networks means more people to serve our lightning networks announce our the door than the local banks. there are more people bank by lightn

it owns a lot of bitcoin. thing which owns minors and so forth. there are a lot of ways to do this. >> beverly, i feel lot like tom hanks and big. i don't get it. why would anyone even want to own bitcoin. >> i do not think anyone needs one. if you are curious, and lots of people are, just buy as much as you are comfortable losing. if you think this will be a good long-term investment, you buy a little bit more, but keep it to 1% or less of your portfolio. if it works out, it will grow and if not you will not have jeopardize your future. if you are looking for a truly non-correlated asset because you think stocks are pricey, you are worried about what could happen, you could go up to maybe 5% of your portfolio in bitcoin. it won't really work as a hedge anymore, frankly, it's a bit of a risk for my taste. >> we are almost out of time. when i look at the chart of bitcoin, it looks like it kind of tracks the stock market when everybody has a big risk appetite bitcoin goes up. sometimes it falls when people pull

you don't have to deal bitcoin custody but have a lot of exposure to bitcoin in bitcoin's price movementwere gonna put up the names that will be in this along with micro strategy give us a few other names in your number one reason for that. we are also excited about companies like tesla and square in twitter twitter allowed people to send bitcoin back-and-forth and essentially we people bitcoin across the world is never been done before companies like bitcoin from skin my net even though bitcoin that $50000, really excited about the pace of innovation in the field and excited about the industry we think is just getting started. >> it's great to see you i know you're launching a couple of weeks i know you don't have a hard day but we would love to have you back on launch day. >> thank you. liz: we really made that happen, we talked about jamie dimon's bitcoin on my morning market minute on tiktok we have to enter quarter million people -- i guess one quarter of a million, i cannot count, a quarter of a million 225,000 people following me on tiktok, i hope you will join us soon every morni

we also need to focus on this proshares bitcoin etf or get is it really a bitcoin etf, or a futures etfocused on the price action? it is a big day. and joe mathieu is looking ahead to where we are with the president's economic agenda ahead of his meeting with house progressives, which is going to take place a little bit later on today. let's kick it all off. let's talk about where we are. how this earnings story is translating into markets. abigail doolittle, over to you. abigail: we have the s&p 500 up slightly, but lots of laggard stocks are down on earnings reports, in contrast with the banks last week. we see philip morris sinking ever so slightly. -- sinking, ever so slightly higher. material costs and shipping costs way nonprofits, and they had to raise their forecast for materials and shipping costs to $2.3 billion, clearly weighing on shares. the worst day of the month of october. philip morris had been down earlier sharply. they beat both top and bottom line estimates, but the supply chain weighing on philip morris as well in the form of semiconductors for their heated cigarett

the record, if i did want to steal bitcoin the proper way, how do i steal bitcoin?the proper way? bitcoin is stolen by hackers who hack into computers and sometimes even exchanges to try to get that code, extract it and get the bitcoin. but you're not going to get it from the physical atm. that actually has cash inside because you can put cash in to get the bitcoin to your virtual account. >> i didn't know this was a thing. i knew stealing atms was a thing. is this only in the silicon valley or nationwide? >> it's catching on a bit because bitcoin atms are catching on. there's something like 45,000 or so in the country right now, much less than regular atms, but they are growing because the price of bitcoin is so hot. as of earlier this morning, $55,000 for a single coin. that's approaching report territory, which means people want to get their hands on them any way possible. >> if i'm trading in bitcoin, in theory i'm pretty tech savvy. so would i go to an atm at a 7-eleven and do it that way? >> probably not. that is perhaps more convenient than going online, but

if you look at bitcoin itself, you will see bitcoin made a run at its record highs, just under $65,000. big picture, you can't argue with the momentum bitcoin has had from the beginning of the year to its record high in april and that's at a year today chart. when it bounced back from its july lows come a that is when investors one exposure to -- call it fear of missing out -- investors are looking for ways to get exposure come a so by all accounts, this has been a successful etf launch. the rollbacks, you are not exactly getting the full exposure as you would if you were buying this spot, which is a bitcoin itself. some are moving away from what people want, which is more exposure to bitcoin. there is a role cost which eats into the etf returns versus buying spot that would give a much figure return. for long-term investors, this is not an optimal structure. bloomberg intelligence estimates to maintain exposure, that will cost 10 to 20 percentage points east year -- each year and you may be better off if you want the wild ride to invest in the actual digital currency. but there much g

now, bitcoin is the iceberg. that titanic is the money world, the globalized, neal, liberal washington consensus, post world war 2, federal reserve bank dominated global economy. 20082009. it hits the big coin iceberg. and if you watch the titanic reenactment on youtube video, it's quite excellent. you know, for the 1st, over 2 hours, people are still wandering around in the state of disbelief, and they're still playing music down on the ballroom. the people in the rich cabins are still smoking cigars. and wondering at the novelty of all the snow on deck and everything, it's bound till the last 10 minutes that suddenly people are like, hey, what are the life birds were all dying? and that's where we're at now. we're at the moment now where you've got like jamie diamond is literally the fridge at north atlantic. you know about the freeze to death. and i know it sounds gruesome, but i can't stop laughing. the thing is about that titanic thing. is in the music was great, they had the best orchestra there on the atla

and this etf, i believe, holds up to only 85% bitcoin so it's not really a fully bitcoin etf. have to deal with the tangle as well so for the newbie, they would be getting killed in fees and they're better holding off an interest part etf but it does not exist so this is the best to do. >> one thing you're trying to highlight is you can be long and short on bitcoin what does that mean for the crypto market? >> everybody is getting excited about this etf but if you can be long and short, that means anybody that's negative on bitcoin that thinks the etf could go down could short it 2017, same thing happened with bitcoin then once you get smart money involved, more institutional investors involved, wall street involved anybody who wants to take the opposite side of the trade could do that. this does not necessarily mean we'll all be one and beyond in crypto. >> you did say it's a big step for bitcoin. one of the things that this will allow people to do is invest in bitcoin without having to take custody of it. a lot of issues with holding bitcoin. do you think that will increase

it is impact -- impacting the spot bitcoin orchid. -- bitcoin market.do you think the pace of bitcoins rise can keep up or are these fits and starts just going to be the name of the game? matt: it certainly going to be a volatile market. bitcoin has been a volatile market since it came into the world a dozen years ago. that's not going away anytime soon. i don't know if the next week or two weeks it will see the kind of price appreciation we've seen, but over the next year or three years, this is going to be a moment that marked the march of institutional investors into this market. i come from and etf background. back in 2004, the last time we were so excited for a new etf it -- is when the gold gtf came into the market. the important thing about gld to note is that after three years it was at $10 billion. after five years it was up at $75 billion. the assets build over time. i think you will see that in the bitcoin market as well. we are just getting started. emily: what about the regulatory? obviously what is happening china and waiting for the hamme

face of bitcoin tradinu. ., ~ ,., the legitimate face of bitcoin tradinu. . ~ ., the legitimate faceande has faced another setback in its battle to avoid collapse. evergrande is struggling under massive debts — of some 300 billion dollars — and fears it could default have rattled global markets. now another plan to sell off part of the business has fallen through — shares in the company were down 14 percent in hong kong today. sarah toms is following the story for us in singapore. the bad news just the bad newsjust keeps the bad news just keeps coming. so shares of the giant chinese property developer have taken an absolute hammering today as trading resumed in hong kong. now, shares had already been falling this year around 80% since the start of the year. trading was suspended for around two weeks as the company tried to thrash out 2.6 billion dot—mac the bed to sell a stake in property services unit to arrival development has just fallen through and this is freely rattling investors because there is a looming deadline for default that is coming on saturday if the company doesn't p

bitcoin getting a further boost after jack dorsey indicated square was considering a bitcoin mining systemrter worth is with us to break it down. how are you? >> a dynamic day bitcoin sharply in the last few minutes having been up sharply i have two charts. the first one way to draw the lines. we know that the sell-off that stopped this summer found the trend line in effect since the pandemiclow. bounced to the penny we have moved above the downward sloping -- call it a wedge, it doesn't matter that is a breakout the second chart is what to consider do we or don't we go above the prior high after the sell-off from the p pandemic, when we recovered it took a while to break out. it doesn't matter if it is bitcoin or stock commodity or x, y or z after 64% sell-off, it took three months for bitcoin to move above its pre-covid level. so here we are we got as high as 62 and change. 63 today the presumption is that you back end fill or back away before you actually exceed the high it is something that happens more often than not. >> carter, thank you we will see you a little later on in the show

bitcoin ecosystem.you know, looking into robinhood results, there crypto trading dropped almost 80%. it was kind of astonishing. i spoke with the cfo who told me that perhaps crypto trading had normalized. i wonder what you make of that huge change in volume. i know it is just a window into robinhood, but i wonder if it signals broader interest or hype around cryptocurrency? michael: we have some cyclicality. it is natural. q1 was a big quarter. things slow down after the china equities. -- china exodus. it is heating up now. you can tell with the various coins. i don't think we have seen the last of crypto volatility in crypto enthusiasm. i think that in time that we will see more cyclicality. emily: you think more volatility is ahead? michael: um, i just think this is the most exciting thing going on, right? the entire crypto world is attracting a huge amount of capital, attracting a huge amount of talent, attracting a huge amount of attention, and on saturday afternoon what else is there to talk abou

>>> plus bitcoin's big week. prices are soaring the first bitcoin putts etf is about to start trading should investors jump in or is it buyer beware. >>> volkswagen's ceo will join us to discuss the chip crisis, low inventory, the ev push, and elon musk's surprise appearance on a vw conference call. >>> a check on the markets the dow is down a 55 we were briefly positive the s&p hanging on to an eight-point gain the nasdaq up 92 points or two thirds of one percent. you heard about housing. home builders are higher on a bounceback in home builder sentiment. lennar leading the way there weighing on the dow is disney. bay close downgraded the stock on concerns over slowdowns on streaming numbers. shares are down 3.5% to $170. >>> a strong start to earnings season but this week's results could decide the fate of the mid-october rally that has been boosting the markets with us is stephanie link, high tower's chief investment strategist and a cnbc contributor with stocks to watch. you have three stocks you have got you

on bitcoin, i think what happened yesterday, with the new futures based etf for bitcoin, the generalcceptance of bitcoin within the financial services industry, within the commercial industry, is gaining more and more traction, heating a new high overnight here at 66,000. we think in very small doses, bitcoin can be a diversifier in a portfolio as well. shery: can it really be in small doses when you're talking about her $2.5 trillion crypto industry that continues to grow? is there a threat that all these companies that are directly or indirectly exposed to bitcoin will also be exposed to the volatility that comes with it? is this a risk for the broader market? >> it certainly a risk for those companies that have a lot of bitcoin on their balance sheet. but if you can accept the volatility that comes along with crypto, we are talking bitcoin specifically, when i say small doses, i mean 1% or 2% of the portfolio, not 5% or 10%, because it is very volatile. there is that believe more and more that it is the new digital gold. if you think of how we use gold or precious metals in our po

than there are real bitcoin and there's no lender of last resort for bitcoin.re is no one that will ever make 21 million of them, it is impossible at this point, and, therefore, there's a lot more risk of the price being swung around this time we don't know what it is going to do without a lender of last resort in the next correction. >> and what would you say then to people who are looking to get in these days? i mean is there a reason why bitcoin should be in a sort of class of its own when there's so many others to now pick from >> well, it is interesting because there is a very good argument for bitcoin to go higher, and, again, if past is prologue with bull markets, we've seen that it can go quite a lot higher, and bull markets definitely tend to surprise people on the upside however, the bear market drawdowns, i just put out a tweet referring to pan tara capital's chart. the average bear market drawdown is 68% from the peak so there's definitely a lot of price volatility what we don't know about this time is how much the leverage is going to amplify that.

bitcoin is cost free.die van der walt in london with all of the joint of bitcoin as well. what do these etf do if bitcoin goes from $62,000 to $52,000, or for that matter, $72,000? eddie: this is the problem for bitcoin, for the investors who take this position. it is backed by a futures contract, backed by a cash settled futures contract. so what you are really doing is taking demand away. somebody who might have wanted to go out and buy bitcoin is now taking exposure through a cash settled product, so there is no necessary exposure to the underlying bitcoin. while it is bullish in the short term, i think it drains away some of the demand. you are right that it is very hard for these etf's to completely replicate the price moves in that way, and i think we saw with oil when it went negative last year just how much contamination there can be from these markets. tom: these are not synthetics and they are not cdo squareds, but is this financial engineering because there is no underlying? eddie: i think it is

it means for nft's about what the launch of a bitcoin futures etf means for bitcoin.an important move. emily: a good comparison, matt. always good to have you here. goldman sachs was the first big u.s. bank to enter the crypto market, back in 2017 when lloyd blankfein was ceo. now it is impressed that he is impressed by its resilience as an asset. his thinking and talks about the need for regulating it. >> a lot of bright people think it has a bright future. i'm telling you, i'm into the old world and it's not something that i gravitate to. i can think of a lot of reasons why won't work, but i remember when they were auctioning off spectrum to cell phones and saying why would anyone need a cell phone? you just drive in your car and pull up to a phone booth. who would carry that clunky thing? there are a lot of things in this world that have worked out awfully well. >> you sound pretty constructive for someone who used to run a bank. >> you have to separate fact from opinion. nobody knows the future. there's all sorts of things, there's a lot of things that move in dif

the sec is set to allow the bitcoin futures ats to start training next week and bitcoin to the moon.estors are ready. let's bring an hour reporter, katie grunfeld. give us the scoop on this long road to get to the bitcoin etf. katie: it has been a decade and that could be ending and they will not stand in the way of letting some of the funds begin trading next week. if that is the case, you could see for futures based bitcoin ats trading by the end of the month. when you think back to 2013 with the first application, bitcoin was trading under $200 for most of that year. the industry has changed a lot. they have been pushing through the etf for nearly 10 years at this point. signs are pointing to next week could be the week. matt: we also heard from nsci that $7.1 trillion of publicly traded companies are exposed to crypto. katie: you have seen this industry flourish, where you have crypto-link stocks, companies like microstrategy that hold a lot of bitcoin. tesla falls into that category as well. this interesting to see those equities trade as a block with bitcoin. the price of bitco

that's why we're buying bitcoin. but i just thought to guy who's literally, the most famous guy perspective attack is now buying bitcoin. he's kind of professed or made famous, you know, taking the government. is he going to do a speculative attack against the dollar using their coin? it's an interesting way to look at it. right. you mentioned sorrows is $993.00 speculative attack on the bank of england. made a 1000000000 dollars in a day that was orchestrated by his money managing partner, stan druck and miller, who has been buying big coin now for the past 6 months. so i think they're sharing a lot of information about what's really going on. meanwhile, the central bank, digital currencies are being launched by the dying legacy system. did they have any chance of surviving? i don't think so. i think what their chance of survival is is just trying to keep the game going a little bit longer. so what i see really happened with the central bank digital currencies. one, obviously the, the trend is moving towards this mo

look at september, nasdaq and bitcoin down. look at october, nasdaq and bitcoin up.keeps happening. appears and down years. -- up years and down years. nouys year at 20% for retirement, no one thinks that. that tends to come about the most in a risk off environment. it is no great shot gold was flying until last summer, and as soon as it stopped, bitcoin took over. dani: given that, and i know this is not an easy task, i would love you to give us your best shot -- how high does bitcoin go in the near term? charlie: i think we are up in advance. the thing that drives bitcoins are fundamentals and value of the networks. it is the amount of money trading over the bitcoin block. that is fair value around 40 k. bitcoin moves around a lot. the other side is what drives price shorter-term is flows. bitcoin needs over $1 billion a month to fund the mining output. if that keeps going, prices stay high. dani: really great to have you on. that is charlie morris, cio of bytetree asset management, crypto composite. let's get the first word news with juliette saly. juliette: snap

or hold bitcoin versus tracking bitcoin futures.'s way more tightly correlated to bitcoin itself bigger risk. >> exactly so what makes focus out there think that the s.e.c. would be open to that when he does talk about the cmg, have coin base become a trusted exchange which hasn't exactly endeared themselves to regulators >> one other thing -- i spoke to ceo grace, they applied today to convert their bitcoin fund trust into an etf eventually folks i'm talking to say listen this will take a while it's probably not imminent one of the things he mentioned is the correlation between bitcoin prices and bitcoin futures and saying one of the things that gary was really worried about was price discovery and the idea that they needed predictability in the prices they were saying, you know what, futures have shown that that they really do track the price of bitcoin the market has matured and this particular fund owns about 3% of the bitcoin in circulation. so saying they probably have the scale at this point. and they could easily convert int

as noted by the bitcoin reference rate.ch of different exchanges, you can't just kind of invest in the thing in the corner of your screen but the bitcoin reference does a good job of pulling together a few different exchange metrics. that was up in that period through last friday, 51% we know its been going on. the mutual fund, our mutual fund running the same strategy as the etf up 52%, right on it, and by the way, for reference, the grey scale trust gbtc was up only 37%, so we really do think that etf will do what it's supposed to do and can be a very effective robust and convenient solution for folks. liz: i like how you got that competitive dig in there, but this leads to my next question. there is such things as ether futures have you applied for an ether futures etf? >> we're always looking at the evolution of the crypto market. i mentioned that we filed first in 2017, for bitcoin etf so we're certainly watching the evolution of the market, the maturation of the market, the various ways of trade, we're excited to add

approved bitcoin tracking etf. in a regulatory filing friday, they expect to list today with trading to start later this week the updated filing from pro shares also likely indicates that the s.e.c. is unlikely to block the listing, despite no official word from the regulator. goldman sachs said it has won beijing's approval to take a 100% ownership of its joint venture in china the move allows the investment bank to tap into growing demand among the wealthy for more financial products and investment guidance. it also allows goldman to open what executives are calling a, quote, new chapter and pave the way for the bank to double its workforce in china >>> the alaska department of revenue, a department that manages some $10 billion of u.s. traded assets. has unloaded in meme stocks. the state's fund said it sold nearly 29000 of its gamestop shares while buying stakes in moderna, palatir and analog devices. shares of gamestop were down 18% this year but still up nearly 900% since january that's been quite a ride on t

we have seen several waves of bitcoin adoption we've seen several waves of bitcoin price bull runs so it is possible that we will see something similar. one thing about uncles or aunts at the thanksgiving table is that everybody is up this year everybody is up with this new price high that we're hitting over $66,000, that means everybody that's invested over the last several years is up and we expect to see continued price growth although it's hard to say where it will land at chri christmastime or the end of the year. >> thank you for joining us to talked to. >>> still on deck your big money movers, including a black e ey for big blue we're back after this. ng could . it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast

they can regulate transactions of bitcoin. infrastructure buildout of bitcoin. own infrastructure and take out demand for bitcoin. bitcoin is the ultimate hedge against inflation and failing system, including printing trillions of dollars in the high inflation environment. the reason i don't think it will be the ultimate hedge yet. they have to get you there regulatory headwinds, if it gets through it could be million dollars a coin. charles: interesting this guy was equating bitcoin to the subprime problem. just sort of you know, it is ridiculous in my mind. >> comparing apples to oranges really. charles: the suggestion they're make something that somehow bitcoin is the ultimate sword of dam damocles is unprofessional. >> direct opposite. charles: mike morgan saying buy the dip is worst thing you can be doing right now, pointing his finger at investors for doing it. every time we're on the show you remind me hashtag buy the dip. are we still there? >> sounds like he is a player hater. big advocate of buying the dip and big advocate for underdogs. i'm used to be

bitcoin.t the etfs are not backed by bitcoin. so it is not actually -- even though grey scale is working on that. so it does allow institutional investors to enter the market, but it does not affect bitcoin's growth long term. in my opinion, it can only help it because there is more demand than there's ever been at a time where bitcoin is very scarce. liz: investor herd mentality is a funny thing. you never know what's going to spook the horseses. we've seen in the past, for example, a couple years ago when bitcoin ran up to nearly 20,000 and then plummeted for the next couple of years. they called it a crypto winter. and who's to say that that isn't something that's coming right now because the market gets too crowded with these etfs? >> yeah. i think that we'll see the bull side of that first, and we will have pullbacks. i think when people talk about crypto winter, they are discussing cryptocurrencies separate from bitcoin. you would never think that a discount was a bad thing if you went t

so you know, as hyper bitcoin ization is setting in, as the 1st nation has just made bitcoin legal tender in their country. that's el salvador. and this is a headline that's happened in the last 2 weeks. we didn't get to get to it until today, but it's just, you know, relevant to some of the other have i'm recovering here. the queen could trigger financial meltdown warrant bank of england deputy. this was somebody named cert con lift. yes. so he's complaining that. oh, you know, just like sub prime bitcoin and might cause the financial systems to collapse. but you know, if bank of england is worried, my theory is that if you have nothing to hide, you have nothing to fear from bitcoin right. if like bad debts, lots of fraud in your financial system, lots of money printing. you have nothing to fear from bank coin. but all the major financial scandals went through the city of london went through the bank of england . even the bank of england was implicated in a precious market rigging, scheme, and the library rigging scheme and went right through the bank of england a i g lehman brothers, th

bitcoin pulling back slightly. there's optimism in bitcoin.lly starting to gain as it becomes a more mainstream asset. jp morgan saying that you are starting to see the token, which fell below 30,000 in june, as a better inflation hedge against inflation rather than gold. dani: thanks so much. bitcoin to the moon. speaking of bitcoin, tesla's third-quarter profit be projections as carmaker reported revenue that fell short of wall street estimates. let's bring in for -- christoph crowell. what was the biggest a prize that we saw in the earnings report? christoph: good morning. many were disappointed about the mixed picture. the actual numbers of revenue falling below estimates. cross margins beat estimates. what stood out was the resilience of tesla and ramping up production on the backdrop of the global chip crunch. when you look at what's happening in the marketplace to many of its rivals, everybody is struggling big time to cope with the shortage of semiconductor chips. given that tesla is wrapping up production, i thought that was quite rem

i get $30.00 in free bitcoin. i would have out of downloaded that too, but there's a, that's an amazing story in itself and, and for those people that held on to their bitcoin. yeah, they've, they've seen it go up in value almost double since then. but there's even a bigger story that's going on and, and i'm like i said, i've on the server, i've traveled all these remote locations chasing waves. i know you guys are, will travelers as well. and there's something about you need to go there and get that perspective. and i just, i kind of got into this little thing on twitter earlier with someone today. and they are talking about how privileged people are thinking about this, this crypto currency. and i said, you sound privileged and they may be, you've never been to a 3rd world country. so when i went down to el salvador and i've been there many times in the past surfing, but i, i didn't really understand this problem, which is that just like in most places like the united states, it costs money to have a checking ac

so far, the numbers have been good with bitcoin climbing. it's all time high over $63000.00 as of tuesday afternoon. so just how significant is this for the crypto space? well, joining us now to discuss his boom bus co host and crypto analyst ban swat. now ben, why is it atf such a big deal for bitcoin? well, it's a big deal for a couple of reasons. the biggest reason of all, and by the way, guys, as you know, we talked about this a lot about 3. great will it happen won't happen. it's like one of those wrong. com movie. really se, stephane at the last 2nd. and mess this up again. they did it. and so we now we have a big going e t, f. but essentially what it is, it's a diversification, right? so if, if you're going to get involved encrypt and you say, well, i don't know if i really want to put a bunch of money into crypto and how do i protect my assets using f it's, it's essentially pooling assets together from a bunch of different investors and then you're purchasing together, so you know, it's a safer way to get involved. it's much more of

bitcoin, and bitcoin is near a record. guy: yeah, you can draw a line between one or the other?be. i would have thought the fact that it has been delivering cars and has been outpacing expectations on the mechanics of getting cars to customers, that seems to be a big driver. you take a step back and think about the narrative around the fact that high rates should be negative for these kinds of tech stocks, tesla seems to be performing pretty well. alix: i feel like if you see any stimulus anywhere, it will be in this area, at least in some capacity. guy: maybe. maybe senator manchin would have a different view. alix: true. maybe they're closer to a deal and that is why we're coming down to the brass tacks. i don't know. guy: zillow struck under pressure after fairly positive housing market data. zillow is taking the rest of the euro from playing anymore, needing to whether down the record inventory. stock has been on a decline for a while. dave wilson is looking at the numbers. dave: it is a situation that a lot of companies are staging at this point. when zillow buys homes, the

or trading bitcoin futures?. there is definitely a difference between not only just the features based etf, but physically backed etf and to your greater point also why by it over directly owning bitcoin and i will start with just the first to. this different from the etf. we have a spot bitcoin etf that was filed in january. that, we think the features based etf is a great vehicle. fcc is clearly signaled a preference for futures etf versus a spot fund for now and we think the time has come and it's exciting. charles: some folks have said these are better vehicles or institutions than individuals investors. what you think about that? >> i think they are great for both. i think there's a lot you know a very large pool of wealth that's been sitting on the sidelines wanting to get into bitcoin and it's been waiting for traditional migrate vehicle that they can allocate to. while i think it's good for retail, because of the ability to allocate in your 4 o 1 k, ira, retirement account, but i think that yes, people t

so they're becoming hyper bitcoin eyes. they're becoming savers, they're becoming hard money, astute folks. and so the whole population, whether or not the, you know, i, i like in the leader buccheri to george washington. you know, he wasn't popular to the english back in the 1700s either. but he managed to forge a new nation. so, but kelly in el salvador, he's not popular with the i m f or the cia or the f b i. but he's forging a new nation on the concept of hard money and freedom. and we see it happening in a very compressed amount of time. mark, this all happened, you know, very quickly. i think that's shocking. it's even shocking to me. the speed at which this is happening. yeah, they've really, they've really got the population using it, which of course, a download the wall a get $30.00 in free book when i would have out of downloaded that too. but there's a, that's an amazing story in itself. and for those people that held on to their bitcoin, yeah, they've, they've seen it go up in value almost double since then. but

bitcoin-linked etf.inging new life to a historic silver district, the second largest in the silver state of nevada with multiple recent high grade discoveries, black rock is well underway on the largest silver exploration program in america. black rock, silver. ♪ ♪ ♪ program in america. black rock, silver. ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. charles: facebook reportedly planning to change its name in order to align its brand more toward the metaverse. we're hearing that change could come as soon as next week. kelly o'grady is live with those details. reporter: charles, big tech changing its name is not unheard of. google rebranded alphabet to more accurately reflect its portfolio services. facebook operates whatsapp and instagram but ceo mark zuckerberg is bullish on the metaverse. we don't know quite what that metaverse is going to look like but zuckerberg says it is embodied internet, virtual and real world will have a full-fl

difference between bitcoin, cryptocurrency -- bitcoin cryptocurrency and digital currency. host: is it eight if ra -- is it a if or a when the u.s. will go to digital currency? guest: jay powell has not been an advocate for this. it has been governor brainard who has been leading the charge onthat will be big whether we se president biden come out and renominate powell as fed chair or nominate someone new. most folks think will be leo brainard. that is very lucky to push forward on central bank digital currency. it is almost certain when in a short timeframe. with jerome powell until the hand is forced. at that point we will go forward and have to move into the space. it's a matter of when and the timeframe depending on who is leading the federal reserve. host: thank you for being here with us this morning and talking just through this time magazine article. the u.s. losing the global race to decide the future of money and it could doom the almighty dollar. thank you so much. guest: thanks so much for having me. host: we would like to thank our other guests, callers and vie