they have bet on bitcoin and this will really be a golden age for bitcoin.will look and see what they are doing. try an office, i think it continues to get out the popcorn moment where bitcoin could go. and thatis where bitcoin could go. and that is bullish on microstrategy. that is bullish on microstrate: . , microstrategy. basically another way _ microstrategy. basically another way for - microstrategy. basicallyl another way for investors microstrategy. basically - another way for investors to put their money into crime too has come about, so does that take some of the shine away from microstrategy? i take some of the shine away from microstrategy?- from microstrategy? i think there are — from microstrategy? i think there are different - from microstrategy? i think there are different ways - from microstrategy? i think there are different ways to l from microstrategy? i think i there are different ways to put it. ithink there are different ways to put it. i think when you look at cellar, who has been someone who has become a torchbearer when it comes to b

aside from bitcoin, asset allocators. aside from bitcoin. we _ asset allocators. we have _ asset allocators. aside from bitcoin, we have also - asset allocators. aside from bitcoin, we have also seen l asset allocators. aside from i bitcoin, we have also seen the supreme 500 notching records. what will keep this market going higher?— what will keep this market auoin hiuher? ., , ,, going higher? earnings. stocks trade on earnings. _ going higher? earnings. stocks trade on earnings. the - going higher? earnings. stocks trade on earnings. the p - going higher? earnings. stocks trade on earnings. the p 500 l trade on earnings. the p 500 earnings are up 3% year over year, the nasdaq up 20% year over year, that is really what drive stock prices. this short term, sometimes even intermediate—term, but we look at where earnings growth is happening, everything that will continue. we think it is a good environment to be. if a search of decelerate, we reassess our position, but if earnings continue to do well and grow, there is no reason why the market can churn higher. in t

talk on bitcoin or who is the next bitcoin? where do you go with this trade or are you just buying bitcoin forever? >> you may be just buying bitcoin forever. i mean, taking a word out of michael saylor's pitch book, bitcoin is the exit strategy. if you look at bitcoin over the last few years it's come a long way. it's seeing broader institutional adoption under a second trump administration, we're expecting a much kinder regulatory backdrop. we've been dealing with a very -- very menacing regulatory backdrop here over the last couple of years. you know, if we get a broad regulatory framework in place, digital assets just continue to make their way more into the mainstream. there will be more buyers of it. you can see other players do or mimic a microstrategy type of strategy or you could just see large tech companies, you know, the magnificent seven just allocating one or two percent of their balance sheet to bitcoin. it does feel like, you know, nothing is perfect and not every asset class is for everybody, but the backdrop a

the bitcoin and ethereum. you are not investing just in bitcoin or ethereum.diversified exposure equally. >> if you invest in this, you get a combination of both. when you look at ethereum -- i'm sorry? >> that's all right. >> we are looking at ethereum. do you expect it to also see such a bullish run like with bitcoin? there is so much excitement with cryptocurrency, but it seems a majority focused on bitcoin. do you expect ethereum or solana to rally as we go into 2025? >> we need to step back a little bit and understand what is happening in the u.s. the u.s. has been deprived of product in crypto since 2014 when the first application came in. what happens now is bitcoin is the biggest share of the lion's share. the first approved by the market. the s.e.c. is resistant to approval anything else. as a result, the decision not to risk the product. it was a disservice to the market not to represent in terms of education of the market is important to understand what we are listing. the product and s.e.c. started giving more room for issuer to issue the coins pro

we buy bitcoin. we lever up the equity, so the equity outperforms bitcoin, and that's great for equity investors, and for the bond investors, they can't stand the equity risk. they don't want the downside risk but they have a huge appetite for the bonds. charles: why do they have, i saw one of the critics said who the hell is buying these? whose buying and why would anyone buy them? they have 0% interest. >> well one group of people be long bitcoin investors and buy the bonds because they get the upside without the downside of bitcoin. another group of investors are convertible arbitrage. they buy the bond, short the stock, extract a risk-free premium out of the instrument and they could only do that with a convertible bond. they can't do it with equity and bitcoin. charles: so again, you face a lot of critics with all of this. what do you say people are saying hey you're making up financial terms like all this stuff you're talking about is goobly-gop, made up taking advantage of a moment in time whe

and obviously bitcoin folks are really trying to push that narrative, saying that they're bitcoin voters who are single issue voters that are going to vote with their wallets. obviously, donald trump that thinks that there's some crypto voters and he's going after them. hey, you take everything you can get. now, let me just factually check. donald trump says he's going to keep all the bitcoin jobs in america. and there are jobs at robinhood and coinbase and whatnot. and those are generally based in america. but bitcoin is supposed to be kind of border free, right? that is one of the great promises of bitcoin that it's supposed to be dentrtralized o of the hands of every government. it was created in the ashes of the 2008 financial crisis, when people thought that maybe the us government and the banks had too much control. so i think for a presidential candidate to say, to use it and put a sort of nationalist spin on it kind of goes against its core principles. right. okay. well, so you mentioned a financial crisis. the pandemic stimulus really had a big effect on bitcoin. this was in you

bitcoin reserve.e going to ask bitcoin guy anthony pagliano what he thinks of that, next. ♪ santa baby, so hurry down the chimney tonight. ♪ think of all the fun i missed. ♪ confident. measured. ready. the markets, like life, will turn and challenge us. but when emotions run high, we stay grounded. with the hcm buyline, we work to empower investors, in navigating market volatility and complex conditions. we provide a diverse portfolio with proprietary mutual funds and etfs aimed at growth and preservation. so you can invest with confidence. visit howard c.m. funds dot com. if you're living with dry amd, you may be at risk for developing geographic atrophy, or ga. ga can be unpredictable—and progress rapidly—leading to irreversible vision loss. now there's something you can do to... ♪ ( slow. it. down.) ♪ ♪ ( get it goin' slower.)♪ ask your doctor about izervay. ♪ (i. zer. vay.) ♪ ♪ ( gets ga goin' slower.) ♪ izervay is an eye injection. don't take it if you have an infection or active swelling in or a

but i am of the point that, look, if bitcoin goes to where gold is, right, if bitcoin goes to where gold, by definition, creates massive demand for u.s. treasuries. paul ryan's already writing about this in terms of stable coins. president trump's talking about bitcoin being the new oil. that's, to me, i take that as the petrol dollar era. i think people are completely and totally missing what's going on, charles. charles: the good news is that a lot of folks on main street got it and got it early. you are disappointed when when it comes to powell and the fed about their main job, which is administrating monetary policy and understanding the effects. in particular, you think they're underestimating the lag effect. >> yeah. so no matter what they do next, we are -- many in december, those cuts are not going to be the felt until august of '26. finish so the u.s. economy, the real u.s. economy is going to be digesting 5% fed if funds rate next year. that's assuming an 18-month lag. so i am of the view that, look, the dual mandate has been chose to being achieved -- close to being achieved,

yesterday bitcoin at 100 jus below.below that an nasdaq, we are on 20k watch in sight of that round number apple, meta hitting new highs. we are watching tesla too, bac above a trillion dollars

bitcoin was $10 a pop.this. it was worth next to nothing for years, then it started rising, and then basically gets very volatile. if you bought in 2022 it fell 50% very, very quickly, very uncomfortable. but look, it recovered and here it�*s risen 50% since donald trump, a big advocate of bitcoin and cryptocurrency, won the us election, and he�*s proposed other bitcoin fans to key financial positions in the us government. so what is bitcoin? well, for a start there are no physical coins or notes. each coin or fraction of a coin is basically a computer file that you keep in an electronic wallet, accessible via a device like a phone. bitcoins are created when powerful computers solve complex mathematical problems and are rewarded with bitcoin, which they can keep or sell. this process is called mining. the bitcoin founders set a maximum of 21 million bitcoins that will ever exist, and they get harder and harder to obtain, so like gold there is a finite supply. and bitcoin can be transferred anonymously and i

in and buying bitcoin. that's been, like, the pipe dream of the craziest bitcoiners for years. they got el salvador to buy in a couple years ago. everyone thought that was nuts. now the president of the united states is talking about doing it. even him talking about it is a huge win. >> this point about, again there is no -- there is a practical use for criminal cartels and people who want to hold people for ransom or make transactions in payments away from law enforcement. there is some use case for, like, dissonance in states that are under repressive regimes to move money around. there is a use case for that. but generally this is essentially an instrument of pure speculation. like beanie babies or tulips, right? >> if you are pro bitcoin, it's like gold. gold is viable for many years. why couldn't we have digital gold? but their argument sort of fall apart when you start to think about, i mean, what makes bitcoin valuable? why is it more valuable than other cryptocurrencies? some of the new ones invente

is a bitcoin etf the same as owning bitcoin directly?itcoin etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. >>> welcome back to fast money. at&t shares hitting their highest level since 2021 the debuted the company and filling a three-year plan to return more than $40 billion to investors through di

billion of bitcoin.e -- liz: it's incredible. it's incredible. and larry fink, of course, of blackrock, you know, started ibit, and he kind of really to if pelled this for the spot -- propelled this for the spot bitcoin etfs. i do immediate your thoughts on the energy -- need your thoughts on the energy suck because you guys are turning to wind power. can you give me a quick mention about that? >> we basically are opt optimizing and monetizing -- we believe there's a huge amount of the renewable energy that can't be used because of grid congestion and too much renewable energy at certain times of day. liz: fred, please come back in the new year. mara's a great story. s&p is kind of tiahrting on the record. have a great weekend, we'll see you monday. larry: hello, folks. welcome to "kudlow," i'm larry kudlow. trump's till moving at

bitcoin today.ion story i think definitely those comments by powell are helping this most recent boost in bitcoin, but if you just take out the post election story, take out all of the excitement around a national strategic bitcoin reserve where the efforts we're seeing internationally and among the states here in the u.s., just look at the supply and demand dynamics only seven months out from the bitcoin happening. that happened in april and that is that technical event that slows the spike of bitcoin you have all of this demand coming in through the bitcoin ets. with friendlier regulation coming in the year ahead, that demand you'll likely see grow and grow and grow. you see all of these calls happening for $200,000 by the end of 2025. so if you still think that that is a little bit crazy, just, you know, think about the regulation environment next year and supply and demand dynamics. >> yeah. how about doubling the price there, tania what are some of the specific catalysts you think that investor

you have talk about bitcoin bitcoin strategic reserve. if that were to happen, other countries would surely follow suit and the argument is if it is like gold, as jerome powell said, we have a gold. why not contemplate diversifying that into cryptocurrencies. the larger point is this is at the front tier of innovation in financial services. it's not just a tradable asset. it's the next evolution of infrastructure, how he went from mainframe to on premise to cloud, blockchain and crypto is the next step in that. the question is, do we want the u.s. to be a leader in the stew industry, like we are in artificial intelligence? i think the answer is obviously yes. we want to continue to lead there. for a while, we weren't sure whether the current administration didn't have that view but the next one i think gets it. >> neil: all right, the fact of the matter, not for the faint of heart. people say if you want to dabble in this commute don't want necessarily use your kids college education. it has been soaring and it's pent up in excess of 50%

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is a bitcoin etf the same as owning bitcoin directly?in etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoiinvestment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcital.comoday. liz: breaking news, tiktok has filed an emergency request with the supreme court to temporary halt the law that would force chinese parent company bite byte to divest the short form video app by selling to an american company. this comes after the d.c. circuit court denied an emergency request from bytedance and tiktok on december 13tto block the law. tiktok says divesting is not possible and the company is not speaking with potential buyers. if there is no resolution by january 19th of 2025, the most popular social media app will go dark in the united states. tiktok releasing

bitcoin, 144 is the price there.ng the crypto stock going up as well. >> i talked to a lot of people in the bitcoin community and there is a lot of talk about potential day one executive order from donald trump which would be the strategic reserve for bitcoin. it's just chatter but that's of the community isn't enthusiastic about. and that has other sovereign nations of the own binder bitcoin. everyone is trying to buy, the price goes up there is a limited supply of 21 million bitcoin's. >> i suspect it's been put out by the crypto community. >> one 100%, nonetheless. >> they have the presidents ear. stuart: apples plated a big update for the new iphone. >> three new phones reportedly, two of them would be foldable one would be a folding iphone, todd is trying to full his iphone it could be equal. >> but the other one that is reported is a folding ipad it's an ipad that folds but when it's unfolded it can be as big as your desktop monitor which is tremendous in its game changing, there is also talk of a cheaper and t

we bought back $1.5 billion of bitcoin.t we could do with equity day by day when we do it with debt, we issue $3 billion of debt that is backed by $600 million of bitcoin. it comes due in five years we pay 0% interest and can he apture the $2.4 billion in the arbitrage gain up front but then over the course of the five years, we double or we quadruple the investment because we're buying an asset that is appreciating faster than the s&p. >> appreciating faster than the s&p. we discuss the company as evaluation tom lee, welcome, global visors and cnbc contributor and herb from herb on the street. with you two keyed up, i don't know where this is going to go my two questions is number one what happens with the price of bitcoin goes down. number two, why would people pay a premium this company holds when they could buy the bitcoin itself or short it you know what i'm saying tom, go ahead. >> well, kelly, both of those questions that you asked have been asked about miko strategies since inception. they've pursued this strategy f

is a bitcoin etf the same as owning bitcoin directly?r a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. stuart: friday morn, how are we doing? well, we've got some green, the nasdaq up 130 points at this stage. look who's here, mark ma a haney mack be us -- mahaney. i want to talk about your outlook for 2025. what are your top picks for the new year? >> i haven't changed them over the last month or two. i continue to like uber, amazon and doordash, in that order. and, stu, i just think going into next year if you liked tech socks in '24, you should like them into '25. we've got probably a better regulatory environment. we're going to almost certainly have interest rates coming down. and one

is a bitcoin etf the same as owning bitcoin directly? bitcoin etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation. heard my name! i swear to god, kevin! -we told you t

bitcoin is the report card. >> if he idea is to make the dollar in real terms, it should affect bitcoin too. >> other than we've got a massive adoption wave. >> and that should drive demand. mike, appreciate you making the time to join us on this very very significant day >> thanks so much. >> mike novogratz is the ceo of galaxy. >>> with that intro, let's move to my next guest who says bitcoin is in a clear bubble mike didn't exactly disagree with that. could end badly, here with opportunities outside of crypto is voice chair and head of investment group at aerial, what a back-to-back pairing, charlie, welcome, love to their your thoughts. >> thanks for having me. the headline is bitcoin is going up because it's gone up recently people are playing this momentum they have seen people on television get rich. this is a get-rich-quick scheme. get-rich-quick schemes always end badly. they used to pitch it as having transactional value. now they are admitting that the only value it has is store value. and where mike is wrong, and god bless him, he's done very well and built a real company, w

a lot of the bitcoin bulls. greg is not a bitcoin bull. portfolio. hard to figure out the discounted cash flow. bitcoin up 3.5%. trading at $102,380. that does it for "worldwide exchange." "squawk box" starts right now. >>> the dow did climb 45,000 for the first time and the three major indices closed at record highs. >>> bitcoin now soaring above $100,000 after president-elect trump picked paul atkins to lead the s.e.c. atkins has been critical of the s.e.c. crackdown of crypto firms. >>> heavyweights in the corporate and investing world speak ought ing out at the book. it's thursday, december 5th, 2024 and "squawk box" starts right now. ♪ ♪ >>> good morning, everybody. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. welcome back. it was crazy. >> a lot of news. >> a lot of huge names. i can't believe you're still standing. >> i'm enjoying my coffee. >> we will dive deep into everything andrew was doing in just a moment. let's chec

that is more than bitcoin. this is exuberance across the board and it is regulation, trump ran on deregulating crypto. sought the crypto industry for campaign contributions, he received that, they were big supporters, might have helped him in certain places in a close election, he has a regulatory team that is much more aligned to the crypto business including the story we first foreshadowed, paul atkins who was part of the digital chamber of commerce, long-term securities lawyer in the front running to the sec chair and that announcement, this is where it gets interesting, i don't think paul atkins, knowing what i know about his background is going to say let this thing go, no regulation on crypto. these are securities lawyer who believes in disclosure mandates. there's not a lot of disclosure involving crypto companies like ripple and others. being real clear here, assuming he will open the floodgates with no regulation there will be regulation with paul atkins as chair. it will be less than what gary gensler

investing in bitcoin. of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. (vo) memory and thinking issues keep piling up? it may seem like normal aging but could be due to a buildup of amyloid plaques in the brain. the sooner you talk to your doctor, the more options you may have. learn more at amyloid.com. >>> major averages are under pressure but also off the session lows. we're down 1.25% and nasdaq down 1.6%. it was down more than 2%. our next guest said investors should stay patient. the double-digit upside in the charts for next year. joining me, john. it is good to see you. >> thank you for having me. >> so s&p chart, what does today look like and what does it tell you. >> i think today what we're getting here is part of the pullback after j.p. pulled the eggnog on the 18th. we have a distribution on that day. 90% of stocks were do

bitcoin stockpile established. the growth of a digital monetary ecosystem with bitcoin really at the core, serving as digital capital and the true source of economic energy for the free world. ashley: what a good place to leave it, right there. natalie, thank you so much. and have yourself a great christmas. >> thank you so much, you too. ashley: thank you very much. taking a quick look at the markets as we wrap it up here, the s&p and nasdaq jumping for a second may a row to kick off a holiday shortened week. the russell slightly lower. take a look at the quantum computing stocks, up huge today. and since charles mentioned them on the show last month, they are up. way to go, charles payne. look at that, d wave quantum up nearly 400%. very impressive indeed. well done, charles. our time is up. guess what, taylor rigs is in for liz claman. taylor, tag, you're it. >> ashley, you had me at bitcoin and 200,000. if that happens there are a few of us who won't be showing u

is a bitcoin etf the same as owning bitcoin directly? the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. it's a lot to be a caregiver and a daughter. because you kind of have to take a step back. getting some help would be a great relief. from companions to helpers to caregivers. find all the senior care you need at care.com “all my friends sleep on a purple mattress now. it's the only mattress good for every body. from companions to helpers to caregivers. the grid flexes where you need it, cradling all your pressure points. and it's got instant response for an undisturbed sleep. it's soft to push in where you need it, and firm to support and keep your spine aligned. thanks to purple's grid, now i can finally sleep on m

yesterday bitcoin at 100 jus below. s & p 6100, just below that an nasdaq, we are on 20k watch in sight of that round number apple, meta hitting new highs. we are watching tesla too, bac above a trillion dollars i market cap after the election. the big reason why discretionary is the best sector today between tesla and amazon that's what you get, better than 1% look at aploven, now up anothe staggering 900% on the year. it is hard to believe but it's true it takes us to the talk of the tape as records keep falling, shoul your exposure keep increasing? let's ask gabriella santos wit me once again. welcome babbling >> good to be here >> people are asking the question, i keep watching th stock market go up, should i keep getting more long because this will last for a while how do you answer that >> strength begets mor strength you tend to have more alltim highs following alltime highs, especially once you have had a bear market, related to th pandemic and rates there briefly. and now we are at the start of a new bull marke

sticking on bitcoin a little bit more.rom its record highs, impacting the smaller coins, following the hawkish signals from the fed to. matt, chief investment officer, we saw the fundamental reasons why cathie wood is still bullish into 2025 and beyond. should anyone worry about the sudden weakness we have seen in the last few trading days? >> no, it's great to be on. the weakness we have seen is a healthy pullback. looking at the big picture of the crypto market, it has run up substantially since the election with a lot of leverage buildup in the system. there have been about $2 billion in forced liquidations over the past two days. this has happened in crypto since its earliest time, we need to resend the leverage levels and then we will build from there. long-term leverage drivers are still intact. we feel the same about where it's going. caroline: you are someone who has seen the highs on the lows, you understand the volatility, but i'm interested in who is coming to your asset management company. thrilled to hear abou

investing in bitcoin.you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. i'm "aches” and i'm "pains” and we keep you up at night because we're aches and pains you think you're sore in the morning because of your age. ha ha ha you don't hurt because you're old. you hurt because your mattress stinks. which makes our job a lot easier oh that's going to hurt in the morning. purple is proven to help you rise refreshed. which is awful for us. it's very good news for you. do not go to purple.com do not visit a purple store >>> welcome back to "squawk box. starbucks workers union saying that 98% of union baristas voted to authorize a strike, if necessary, as they try to seek a contract with the company. the union saying that starbucks has not yet proposed a comprehensive package that

what is the purpose of the strategic bitcoin reserve in the environment where bitcoin is meant to bethat defy the idea why this exists in the first place? nonetheless, it will be interesting to hear from key players like elon musk and david sachs who is the white house czar. they will take the roles in reshaping the environment as well. it will be those people that are really key and influencing trump to determine exactly what happens next. >> dan murphy with the latest on crypto out of abu dhabi. see you soon. >>> still head, much more on the money movers today and the buying opportunity for this mystery stock chart. that storys mi uafr e eak.congp te have you ever thought of getting a walk-in tub for you or someone you love? now is a great time to take a look at getting a safe step walk-in tub. with safe step's standard heated seat and new fast fill faucet, you can enjoy a nice warm bath up to 20% faster! and the convenient touch pad control is right at your fingertips. each tub comes standard with a dual hydrotherapy system. the ten water jets can help, increase mobility, relieve

is a bitcoin etf the same as owning bitcoin directly?d flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. >>> welcome back to "squawk box." it's been a rough year for french billionaires including lvmh bernard arnaud. according to the bloomberg billionaire index. the companies have suffered from slower spending not in france or elsewhere, but china and weakened appetite for french assets with the political volatile climate in france. i know the violin is tiny. it's the tiniest of all tiny. >> a statement on luxury goods. >> and actually a statement on china. >> of course. the slowdown there and how profound it is in terms of the impact. >> and even in some of the shifting winds about what people are buying in the u.s. and elsewhere in terms o

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bitcoin was $10 a pop. million. but it's not been a smooth ride, anything but. have a look at this. it was worth next to nothing for years, then it started rising, and then basically gets very volatile. if you bought in 2022 it fell 50% very, very quickly, very uncomfortable. but look, it recovered and here it's risen 50% since donald trump, a big advocate of bitcoin and cryptocurrency, won the us election, and he's proposed other bitcoin fans to key financial positions in the us government. so what is bitcoin? well, for a start there are no physical coins or notes. each coin or fraction of a coin is basically a computer file that you keep in an electronic wallet, accessible via a device like a phone. bitcoins are created when powerful computers solve complex mathematical problems and are rewarded with bitcoin, which they can keep or sell. this process is called mining.

took a restrictive stance on bitcoin and crypto.at about the macro story let's talk about that the november jobs record coming out at 8:30 a.m. eastern and the expectation to a thousand non- payroll jobs added to the economy in the month of november the unemployment rate is expected entire to 4.2%, your expectations and whether or not this will impact the fed moves. >> i think we get a rebound from the october number but this story is about revisions and they have been negative i think jobs are in a troubling place right now. maria: in other words you think things are weakening the economy in terms of the jobs market. >> things are weakening the incoming trump administration cannot come fast enough. >> great to see you, thank you so much. matt called joining us we have a market under pressure and bitcoin around 100,000. we'll be right back. “music playing” ♪ ♪ ♪ something has changed within me ♪ ♪ it's time to try defying gravity ♪ ♪ ♪ >> elon do you want to see democrats here? >> a very productive meeting with the senate and the ho

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we have a few members advising on bitcoin. we are getting direct dback on bitcoin.know trump is looking at the price of bitcoin as a measure of how younger people feel about the market today. he is looking at the stock market and he is looking at the price of bitcoin. we have so many people in the administration favorable to bitcoin, including the new s.e.c. chairman as well as the commerce secretary and vice president with 50% of his holdings are in bitcoin. there are people across the board in this new administration. this is going to be the most positive administration ever and we expect the regulatory environment to be positive as well. >> that's really interesting. we often talk about the president-elect as the president with the most focus on wall street and the business community. why don't we lean into it? how do your investors see bitcoin up 30% since the election. as we go into 2025, are they seeing more opportunities in the cryptocurrency space? >> they see huge opportunity in the cryptocurrency space. we anticipate bitcoin is going to be used and deposit

is a bitcoin etf the same as owning bitcoin directly?itcoin etfs might offer a familiar face, they lack the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress. >>> welcome back. a weekly jobless claims hitting their lowest level in months, and another potential headwind to to further rate cuts in the future. joining me now to t

let's flip the board and get onto bitcoin.mark for the first time on record. up 4% in the session today at 100 performance year to date, 130% year to date for bitcoin. you've seen the market cap of all crypto increasing more than 1.3 trillion u.s. dollars just since november 5, since the election of president trump the sec pick pro crypto, that has been the latest catalyst. money moving into those etf's. expectations that maybe you can get a sovereign reserve of bitcoin. the pro crypto stance of this incoming administration being reinforced by this acc pick. now above 100,000 for the first time. 7:30 a.m. u.k. time. we will be speaking exclusively with the eu's new competition commissioner. do not miss that interview. the opening trade is up next. stay with us. this is bloomberg. ♪ it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fal

is a bitcoin etf the same as owning bitcoin directly?e ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. to go further, you need to be ready for what's down the road. as energy demand continues to rise, we're harnessing breakthrough innovations to increase production in the u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress. >>> welcome back another big day for the crypto market bob pisani bitcoin hit a new high topping $108,000 how are financial advisors positioning their clients in crypto for 2025 and beyond it can be a part of a long-term invest

of bitcoin? own about 2% of all bitcoin outstanding. they are the largest corporate holder, they have it on their balance sheet. micro strategy, huge tear towards the end of the year as you can see on that chart. a little volatile recently because, again, they sell stock in order to buy with bitcoin, and when bitcoin was going up, the share price of micro strategy would go up, and they would sell more shares and more records and use that to buy more bitcoin, and it was this endless feeding loop. since bitcoin's off a little bit, the shares have been volatile, but again overall, micro strategy is a great stock play if you like bitcoin. ashley: absolutely. talking of chipmakers, we've talked about this stock a lot this year, broadcom. >> yes. this is unbelievable, you're up 111%. there had been a little bit of profit taking in the past few days and we've seen as luke lloyd was mentioning the santa claus rally being pulled forrd closer to november and the beginning of december. ashley: right. >> but

bitcoin is one type of crypto.ots of different types of crypto. >> exactly. >> dana: what's a good or bad crypto? how do you know? >> just as there are multiple protocols for information, html and http. some are good for email or website establishment. in a similar way different crypto s allow you to store different values. bitcoin might be the equivalent as you said to digital gold in the previous world, the analog world, what cash was to gold, in the digital world digital money may be to bitcoin. let me give you another example. we live in a time where one out of every $4 has been printed in the last five years. we the actively debasing our currency. at the same time bitcoin into its designed programmed scarcity. you can never have more than a certain amount of bitcoin. so the dollar is depreciating, bitcoin is aappreciating. quick fact. in 2018, the average american home would have cost you over $206,000 and over 400 bitcoin. today the average american home is now over $460,000. it would cost you less than five

moment for bitcoin right now.become a currency. stuart: good lord. what's the best opportunity to mississippi -- invest in a.i. and big tech? is it data centers? what's the best opportunity? >> yeah, there's three legs. you have the chips, we've talked about that. we watch nvidia continue to go up. i think the data centers are a great place to be. to look at crdo yesterday, it was up 50%, vrt breaking new highs all the time. we've talked about the nuclear, especially the small modular reactors, especially new corp., and you're seeing google and meta the putting more money into these, so i think it's a from chips to data centers to the nuclear that's actually going to power these data centers. i think it's going higher still, stu. i wouldn't be selling my a.i. stocks. stuart: so many of the people who appear on this program watching and analyzing the market, they say, look, this is a bull run, and it's not over. are you in that camp? >> absolutely. i think even the ipos that are coming around the corner with xai ju

we have seen the bitcoin act where they want bitcoin to be a reserve asset. but policy also, don't forget, if you have tax cuts, and they have to borrow money to pay for the tax cuts, again monetizing the debt increases bitcoin. >> ivory, you are bullish on bitcoin. your pick is bitcoin. ivory johnson, enjoy the holiday. >> same. >>> here is what we are watching. new home sales and manufacturing in the richmond area and business activity in the philadelphia region. as we have been mentioning, a shortened trading day with the markets closing at 1:00 p.m. in observance of christmas eve. we have been talking about it all morning long. the dow has slipped lower into the red right now. looking like it would open seven points lower. s&p and nasdaq higher. we want to look at treasuries as well. this as a big rise in bond yields since the election, buff since the hawkish cut from the fed. the benchmark at 4.59. a lot of talk about the yields and bonds becoming competition for the equity market and putting pressure on the equity market. okay. that is going to do it fo

in total it holds more than 45 billion dollars worth of bitcoin. it is a bitcoin company. last laugh is on everyone, because even if micro -- michael seiler has now been mopped, in video has -- nvidia has gone to the top. the market value is touching 100 billion. if people sell, it could unleash a wave of that, but it has been a spectacular year with microstrategy up 400%. sonali: bitcoin is back on the rebound at 95,000. if you stop seeing microstrategy buying every week, what does that do to bitcoin? is it a signal that maybe they are holding off? what it spooked the market if they do not have that 11th or 12th? matt: why is gold up the most it has been. sonali: central banks have been buying it. matt: they are the michael sailor's stock in the past. they are defending the old physical safe haven by stocking up in gold but what do they stop by? sonali: my name means gold so i will take it to die. paul: what means gold? sonali: my name in bengali. so gold will live on. matt: there were -- there are interesting parallels because michael saylor continues to buy at the bait

etfs, or in the bitcoin-related stocks, like a microstrategy or marathon?s, those are the most heavily traded, where, because it's given access to retail microstrategy is doing the same thing. traded 800,000 contracts in terms of the options, so, it's been -- it's been a really big surprise, and something that retail has really kind of adopted is the ability to kind of trade it through options, and trade it through the etf >> the evolution of the retail trade is astonishing, and good for them, but you know, their ability to go from sector to sector and sort of turn on a dime, i'm sure you see it there, you know, their just navigation of what's been an interesting market >> yeah, i think that's -- i think that's a good point. when we look at our board, it takes monthly movements and monthly buys and sells and client accounts. we do see that there's volatility in that sector move i give you a perfect example october. october saw information technology being the biggest sell, and then november, it was the biggest buy. so, you know, it -- it's hard sometimes to

bitcoin proponents are hoping trump create a bitcoin reserve.hat's still a fringe if idea whose time has not come yet, and i think on the private sector side a lot of complaints departments don't want to touch bitcoin with a 10-foot pole. bitcoin is 16 years old, it's still a teenager. i don't think it's going to get a seat at the big kid table and that could lead to more volatility and disappointment. jack: do you guys agree with elizabeth? >> bitcoin might already have that seat at the table. you look at the etf, it's already being embraced. i don't like the thing, i don't understand it. at least gold has a 1,000 a year history behind it as a source of value, and i'm not sure what bitcoin does. but i also can't argue the fact that it's been embraced by a lot of people. >> i think it sets up like that negative surprise where everybody's expecting an allocation, and any hint, you could see a downdraft, which would be a surprise. jack: i think it used to be that professional investors felt the career risk was owning bitcoin. that might have flipp

is a bitcoin etf the same as owning bitcoin directly?the true ownership and flexibility of directly investing in bitcoin. with itrustcapital you can buy and sell real bitcoin 24/ 7 with the tax advantages of an ira. real bitcoin means no middleman, no restricted stock market hours. choose the path of direct bitcoin investment with itrustcapital because access equals opportunity. invest in bitcoin at itrustcapital.com today. >>> good morning. welcome back to "squawk box" here on cnbc. we're live at the nasdaq market site in times square. take a look at futures. take a look at bitcoin. dow up 26. nasdaq up 60. the s&p up 6. apple news. apple preparing major changes to the lineup of phones and also other products in addition to that. the company planning to introduce an iphone thinner than the 8 millimeter models and cheaper than pro models. it will have a simpler camera to reduce costs. the company planning foldable devices. samsung has had foldable devices, but apple has not. this is the size of an ipad or larger that itself would fold. s

bitcoin bull run breaks new barriers, passing the hundred and $5,000 mark for the first time as presidentlect trump promises something great for crypto. and signed, sealed and delivered. the uk government approves the sale of the 500—year—old royal mail to a czech billionaire we will talk somewhat about the royal mail in just a we will talk somewhat about the royal mail injust a moment we will talk somewhat about the royal mail in just a moment but we will start this programme in germany where olaf scholz�*s coalition government has lost a vote paving the way for an election in february in the new year. german ministers voted down the minority administration led by the chancellor in a move that he himself sought as he looks to form a new majority government. the move creates a whole new layer of uncertainty for what is your�*s biggest economy, of course suffering from stagnation and industrial unrest in its particularly key automotive sector. let's talk to chris williamson, chief business... always good to talk to you. explain this, coming at a time with the german economy, explained that