your life style, your beliefs, your choosing to live in a relentlessly optimistic future that bitcoin holds. or, you know, you have these guys like tony blair and hillary clinton with their mullets, 20 to bring you back to the seventy's of stagflation high inflation rates. ah, and they're fia currency pyramid schemes. you know, the mullet was pretty big back in the seventy's. so as, as i don't think it's any sort of coincidence that we saw at the end of 2021. we saw tony blair and we saw hillary clinton come out with mullets. oh, rightness. le alba is just released a new album in the sense, the 1970s at last time they were seen with something new. the 70s themes are really coming back fast and furious. and tony blair and hillary clinton are good emblematic of a diseased stag fleeting seventy's mindset. the malays of jimmy carter and the citadels, the defense of core of the big coin experience are rising right there in el salvador, the savior. as it, sir translated and it'll spread to other countries and other regions of the world, we're seeing it in africa. we're seeing a little of it, a li

bitcoin specifically this year. more widespread adoption, the irs now form 1040 you have to list, do you hold cryptocurrencies yes orright there. its become very mainstream, so in addition to bitcoin, how do investors really get into this space as it becomes more mainstream and accepted? >> that's a great question. i mean, right now, i would say crypto in general is quite hard to use, even for me, who has been in this space for multiple years now. when i send a transaction i still have to pull out my little usb hard drive ledger device and use this alpha numeric public-private keys to send and even if you now can do that, you're still having to pay big transaction fees when you send crypto, so it's not very user friendly for the average joe or for example, my grandma and that's what i want to fix and that's what we do with kosta we want to make crypto super super simple to send but of course, when you want to send big payments like thousands or millions or billions, bitcoin will always, always, always be the most decentralized, most secure, and the best way to send money online. we're never going to compete against

current positions that is worth $5.3 billion much of the company's worth has been tied to the bitcoin holdingshas, guys. back over to you. >> what do you think, dom, should i take my salary in bitcoin? >> every time people say that i think back in the day remember when giselle bunch chen said she was going to take all of her salary in euros rather than dollars. but if everyone asks for it in bitcoin or ethereum it might be a near term top level. >>> ahead on "power lunch," are you worried about your tech portfolio? our tech support specialist steve grasso will be on line helping you trade amid the volatility he will run through some of the key names and give his top picks key names and give his top picks right after this and alex, i don't want to stop. well, i don't see why you should have to. let's set you up with a side gig savings goal on the u.s. bank mobile app. this way, you can turn it into your main hustle before you know it. you're my hero, alex! what are you working on now? pool cover. that's fun. oh! i made my wife a bathing suit. oh, did linda like it? she did not. oh. you should s

of their super app strategy in late september >> hey, finally, jason, we watched with interest bitcoin holding 40k the last couple days is there a red line, do you think, where a fall below or a sustained trip below that certain level would be material risk to say download growth or mau growth on names like coin? >> well, i think directionally you will probably see some correlation in relationship between the price of bitcoin and other major crypto currencies and some of the realtime data that we track around app downloads and monthly active users. but, you know, arguably as important as the absolute level, price level of bitcoin or whether crypto is the volatility in the price because that is going to catalyze generally speaking more buying and/or selling activity and certainly just the more trading volume that is out there. companies like coinbase will benefit from that. >> right >> definitely the volatility counts, too. jason, interesting call. got a lot of attention appreciate it. >> thank you. >>> a couple calls on ev names, as well. credit suisse calls this stock a top pick along with fo

i like it the way i play the volatility of bitcoin. hold on one second, natty. biden is stepping out after meeting he had with fellow emdid the crass. listen to see if he swayed anyone. >> can you get this done? president biden: first of all you all ask questions about complicated subjects like can you get this done. i hope we can get this done. honest god answer is i don't know whether we can get this done. is this mic on? >> yeah. president biden: anyway. not sure either. hope we can get this done but i'm not sure. one thing for certain, one thing for certain, like every other major civil rights bill that came along if we miss the first time we can come back and try it a second time. we missed this time. we missed this time. the state legislative bodies continue to change the law not who can vote but who gets to count the vote, count the vote. count the vote. it is about election subversion, not just whether or not people get to vote. who counts the vote. that is this abought. that making it so different than anything else we done. i don't know if we can get i

bitcoin back below 42,000. what do you make of the weekend's price action? reporter: actually, one other point on the valuation for cz of 96 billion dollars, that does not include his crypto holdings it could be much bigger than that. the weekend's action was still not great for crypto. bitcoin is holding above 40,000, so it is not tumbling drastically like it has sometimes in the past, and there are signs that some people are trying to get back in. across the board, crypto is still in a pretty depressed period. it is definitely in the dow or -- in the downward phase right now. manus: great read. joanna also injured, cross assets -- joanna oassinger, cross assets editor. let's continue with the crypto conversation. our next guest is an analyst at deutsche bank. thank you for joining us this morning. we are in a swoop in bitcoin and the overall crypto land. let's stand back for a moment. sometimes when you see these flush outs in markets, it is good because what we end up with our perhaps the more robust investors. what do you make of the current washout? is it done? guest: i would say that looking long term, in 18 months, bitcoin and assets [indiscernible] if we look at the liquid

hold this. microstrategy's, the largest corporate holder of bitcoin in the world. s of winter, take a quick listen. >> we are not sellers, right? we are only acquiring and holding bitcoin, right? that is our strategy. we have been very clear. you can read it in our sec filings. emily: that is in response to a question that was basically like, would you ever sell? the answer was basically never. is that the right strategy? >> kudos to michael for his strategy. he is running a very different type of investment strategy as we are running as an investment firm. think about these fundamebackdrn infrastructure anyone can build on. we have open source technology so new founders don't have to re-create the wheel. anyone can take these protocol aspirations off-the-shelf intakes of -- make something new. we are running all of these in parallel and that gets us really excited. is there anyone we hold in our portfolio that i say we would never sell? that is not in our business model. but for michael seiler and business strategy, he is running a different game and that is ok. em

bitcoin is under pressure. the first week of trading, we are down at, we dipped below $41,000. what is everyone talking about on twitter? bring up the video. it is this idea that if you hold it is going to balance back. you have people saying, just hold off. emily: casting a lot of shame on the sellers. ed: we know the volumes are down on the major exchanges, cryptocurrencies. we know transactions are down. are they right? is buying the dipped the right call? emily: is it? ed: come with me inside the bloomberg terminal. it is a really sophisticated community that tracks bitcoin. $40,600 up to $43,000. this is the zone of interest. the lower redline, this is what we watch for. when we drop to below that line, we continued to see declines. it was said $42,000 was the bottom. that is what we are talking about. thank you. speaking of volatility, what is behind these swings? >> just what makes bitcoin's rally so explosive? when bitcoin goes up, it goes up like a racket. it's rallies are spectacular with prices often rising several thousand percent per year. the crashes are often equally spectacular. what makes bitcoin and cryptocurrencies so prone to mania? first, the buyer bi

bitcoin holding at 34,000. we saw $100 billion wiped off the crypto markets in the past 24 hours. since cryptocurrencies have been trading in sync with technology stocks they're also worried about a more hawkish fed. very small flight to safety today. gold prices have a green arrow. they're up $3. that's it. this is a very nervous market on all of these, the war talk, essentially and of course the fed, jackie. jackie: lauren simonetti, thank you so much for that. of course also on the minds of ininvestors across the country, consumers today, inflation. new fox polls revealing 69% of americans, predicting inflation will be a major issue for a year or even more than that. hillary vaughn at the white house with more onhat. hi, hillary. reporter: jackie, a lot of americans are feeling inflation but some of them are blaming president biden for it. new "fox news polls" showing that a lot of people do not think that the economy is in very good shape right now. 73% say they think the economy is in poor condition or only fair condition. >> the gas prices are up, the shelveses are, many she

bitcoin, do you think that will change? jan: not in the near future. they are holdingl of bitcoin physical etf hostage for legislative reforms that they want. jack: thank you for being on the show. coming up, the outlook for wall street in 2022 plus stock picks from one of the "barrons roundtable" investing pros. i earn 3% cash back at drugstores with chase freedom unlimited. so i got cards for birthdays, holidays, graduations, i'm covered for everything. which reminds me, thank you for driving me to the drugstore. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. what are you recommending for muscle pain? based on clinical data, i recommend salonpas. agreed...my patients like these patches because they work for up to 12 hours, even on moderate pain. salonpas. it's good medicine first psoriasis, then psoriatic arthritis. it was really holding me back. standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not b

bitcoin, do you think that will change? jan: not in the near future. they are holding of bitcoin physical etf hostage for legislative reforms that they want. jack: thank you for being on the show. coming up, the outlook for wall coming up, the outlook for wall street in 2022 ♪♪ care. it has the power to change the way we see things. ♪♪ it inspires us to go further. ♪♪ it has our back. and goes out of its way to help. ♪♪ when you start with care, you get a different kind of bank. truist. born to care. every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. jack: this week "barrons roundtable" hoste

bitcoin, do you think that will change? jan: not in the near future. they are holdingroval of bitcoin physical etf hostage for legislative reforms that they want. jack: thank you for being on the show. coming up, the outlook for wall coming up, the outlook for wall street in 2022 ♪ feel stuck and need a loan? move to sofi and feel what it's like to get your money right. ♪ ♪ ♪ ♪ move to a sofi personal loan. earn $10 just for viewing your rate — and get your money right. ♪ jack: this week "barrons roundtable" hosted the roundtable of influential investors and strategist to ask for the state of the markets of the economy and investment picks for the year ahead. joining us now one of the members of a group, cio todd alston. thanks for coming on. todd:great to be on the show. jack: let's start with the macro, your big picture view of the markets in 2022. what do you see first of all? todd:it is all about inflation but we are long-term investors. if you look out 12 months from now it will be a mirror image. it is clearly high inflation high growth but a year from now we are

bitcoin, do you think that will change? jan: not in the near future. they are holdingoval of bitcoin physical etf hostage for legislative reforms that they want. jack: thank you for being on the show. coming up, the outlook for wall street in 2022 voiceover: riders. wanderers on the road of life. the journey is why they ride. when the road is all you need, there is no destination. uh, i-i'm actually just going to get an iced coffee. well, she may have a destination this one time, but usually -- no, i-i usually have a destination. yeah, but most of the time, her destination is freedom. nope, just the coffee shop. announcer: no matter why you ride, progressive has you covered with protection starting at $79 a year. voiceover: 'cause she's a biker... please don't follow me in. jack: this week "barrons roundtable" hosted the roundtable of influential investors and strategist to ask for the state of the markets of the economy and investment picks for the year ahead. joining us now one of the members of a group, cio todd alston. thanks for coming on. todd:great to be on the

for companies there's at least 27 public companies now holding bitcoin on their balance sheets, microategy is by far the biggest. they have the biggest holding followed by tesla, galaxy digital, block, formerly square in the top ten as well if the price of bitcoin drops below the price where the company bought it, they have to take what's known as an impairment charge so look out for that during quarterly earnings finally el salvador, the president naqib bukele last friday scooped up another 15 million of what he called really cheap bitcoin and changed his twitter profile of him wearing a mcdonald's outfit, very vocal bitcoin bull on twitter. the imf recommending el salvador remove bitcoin as legal ten der krig tender citing the risks. >> you need to make the imf happy if you need loans and you are they in el valusalvador's position it raises the question of the store of value idea behind bitcoin. we'll see where it ends up longer term, but at least in the near term, the value here is questionable >> that's right. cautionary tale here, too, it's one thing to invest in crypto currencie

we always tell people remember to zoom out because anyone that has bought and hold bitcoin for at least 4 years is in profit. and you know, yes, we haven't reached that 6 figure mark, but there is so much speculation, so much volunteer. there are other countries people out there who don't have to suffer the capital gains tax, right. so they're trading in and out of these depth. and i think that we have more volatility had because it's such a new technology. but ultimately i think pick one well, went out in the, in the end. and i look forward to when more people are educated about and, and, and allocate part of their portfolio to it. we're definitely thing more and more of that these days. natalie, i wouldn't have one more story before we do go. because obviously the big story in the last couple of months of 2021 was el salvador adapting bitcoin as a legal tender. and i know that you've sometimes been criticized critical of the idea of it actually being used for payments rather than as a store, a value or, or say, an investment. but you know, when you look at the price drop and that vola

that creates kind of a love-hate relationship between the crypto ecosystem and the bitcoin how others. they are holdingade and sometimes for a hundred years and sometimes four thousand years. and yet you have that fast money hedge funds have a huge amount of leverage and massive volatility but you have two totally different investment mentalities and when they come together, the result is the world's least risky asset to hold over the next century to call -- called bitcoin and the most volatile fast money market called crypto and they are both joined at the hip for better or worse in the year 2022. >> michael sailor there. you can catch the full bloomberg stereo 1.0. that is right here on bloomberg television. january 20 mark's one year since joe biden became the 46 president of the united states. there have been record gains for the s&p 500 and for surging inflation. a topic you mentioned in his address just moments ago. >> given the strength of our economy and the pace of recent price increases, it is appropriate to recalibrate the support that is now necessary. >> this on the same day's approval rat

bitcoin's swings. the enterprise software making -- software maker said back in 2020 it was buying and holding bitcoinwas one of its key business strategies but used measures to show its income would have been if it didn't have to impair the volatility cryptocurrency. now coming up, the power of the marketing in the digital era. what works? what doesn't? power instead of disrupting? maybe peloton. this is bloomberg. ♪ >> apple will likely have to wait longer than expected to get there hands on their first mix reality headset. the iphone maker had plans to reveal the new device as early as this june at debbie debbie d.c. and release it later this year -- w wdc and release it later this year. the device was overheating. that means that an interim as early as this year or next year with a wider consumer release in 2023 is more likely. the headset is planned to have superfast chips, immersive audio and speaker technology, and capabilities for media consumption, gaming, and communication. the headset will be pricey and probably cost well more than $1500. the product will be apple's first new bet since the

bitcoin. you may see the knock-on effects in earnings even that they may have to report losses because they now holdeir balance sheets. >> thanks for that we will keep a close eye on that. >> crypto investor william quigley, good have you back. how important is this level here, the 50% drawdown from the highs? >> well, i'd say a few things about that first, if you look at the halfening which began in may 2020 and typically the upswing in those happens for about 18 months, which would have been november 2021, right around where we peaked at about 65,000, we've come back from there to 33,000 today that is not unusual for bitcoin to retreat after an 18-month period of going up but it should have stabilized somewhere between high 40,000s and maybe 50,000s, except for a couple of both geopolitical and governmental impacts that it hit in the past, let's say, 30 days. those drew it down from roughly 50,000 to where it is now. >> right your point about large drawdowns not being new is a good one, and one that we keep in mind when we think about wicked price action, but the backdrop of a reduced liquidity, c

we are so comfortable with the idea of a company buying all its stock, but when it comes to holding bitcoinstill a unique proposition, hence a lot of the attention on michael. >> we will continue to follow that story. i want to pivot to the text fear, following shares of peloton. they have resumed trading, halted earlier, falling off about 11% the last few days. abigail doolittle has more. the headline on this. >> incredible. plunging, and it has everything to do with the fact that they are suspending production on some of their bikes and treadmills. the main bike, they are suspending production for two months, for the treadmills, six weeks. there is no demand or less demand is why. so speaking of stay-at-home, netflix, another stay-at-home darling, reports after the bell, and it is brutal here too, taylor. over the last 2.5 months, down 27%, a long way of saying that everything bad is priced in. they would have to put up a horrible quarter for it to go down more. it is all about subscriber growth. three months ago, they got to 8.5 million subscriber adds, but some analysts don't think that

a few weeks ago he said bitcoin would hold to 42,000. so he is waiting a bit longer before he buys.le there is a view that commodities in general are on a super cycle. paul: su keenan they're keeping an eye on the crypto space. stay with us, the markets open in seoul in turkey -- solon tokyo next. this is bloomberg. ♪ ♪ >> welcome to asia from bloomberg's headquarters. >> our top story this is hour. apec equities as wall street steadies. samsung's info cuss at the seoul open as the fourth quarter operating profit does miss but fails to beat estimates. and china's embattled property sector forfeits. >> we see the nikkei up 1.47%. we have seen the core consumer prizes rising in line. although household spending did fall more than a percent year on year. we are also watching the 10-year yield because we have seen advise to that nine-month high hui. it was a little bit more muted today. the japanese yen had risen in the previous session but still holding that five-year low at that 115 level, still close to 116. take a look at kospi. we have seen two session of losses for the kospi. we a

because those 40 to 41,000 level is one that many crypto traders are watching right now for bitcoin prices to hold a look at the overall kind of crypto sphere of those bitcoin and ethereum always get most of the attention. why? because they're the two biggest out there. tokens by far. the market cap of bitcoin is $800 billion+. if you take a look at the pullback that we've seen, ether outperforming for the past year and we are down roughly 30% with regard to ethereum with the all-time highs and bitcoin on this scale, much less dramatic, but still it's a 38-point drop on an intraday basis so something to keep an eye on with a relative move when mark mobius says this is a sell-off, if it's not who will step in. the perspective around this is the thin tech player and some of the stocks that have been caught up in some of the trading volatility coinbase global is one that gets the attention because it is the biggest u.s. operator for cryptocurrencies and it got relative help today, based on a buy on bank of america and microstrategy down 2.5%, as well, so keep an eye on those, john back over to you gu

as much or little bitcoin as you want, that is up to you we allow you to holdllar like cash collateral, but then use the bitcoin network under the hood to escrow the value to make payments and excuse them of this really monstrous cash-based economy. >> they are telling me i have about two minutes and i have about ten minutes worth of questions. is venezuela next? for you? >> everywhere is next for us the novel thing about bitcoin is it takes the property that makes internet companies valuable and important is that they have a target audience of about 8 billion people an open, global, singular network. the good thing about strike is we get to sell them money, not advertising. we're delivering one of the most viral products in human history. it's akin to like water to live a high quality life. we get to try and sell money to 8 billion people a better and superior financial experience i'm on a mission to deliver this to everyone that has a pulse on this planet. >> let me bring it back to those in the u.s. wondering about the value of their crypto. where do you thi

out, the crypto side of things really does come down to whether bitcoin with a center of the crypto universe is going to be the one to holdng to stay with that theme as well. looking at whether bitcoin is encroaching on a hedge of inflation. >> what was once an old is now being challenged by a new way of thinking hold bitcoin so, even though it's a debated asset class, it's often called a digital gold, out performing the s&p 500 and gold in 2021 for the third year in a row. of course, we know, as we mentioned, dropping to a low of 37,228 bucks gold hit a new high this wek but both gold and bitcoin overlap, which is why i made this lovely ven diagram. and you can see in the middle, they exist outside of government sponsorship, for both of them. pers perception is part of their value and a finite supply of both for example, goldman sachs analyst predict crypto currency will continue to steal market share, highlighting it already has 20% of the store of value market but what you see on the left has been close to zero over the past six months, especially this week despite that lack of correlation, new government regulation is

. >> down 333 on the dow to your point, mike, the ark innovation etf is holding on to gains thanks to bio tech names bitcoing on to gains. netflix is set to kick off earnings after the bell. julia? >> sara, with netflix the number one thing to watch is subscribers. projected to add 8.5 million in the fourth quarter analysts are less bullish expecting 8.2 million to be added in the past quarter but even more important is how many subscribers netflix forecast to add in the first quarter analysts projecting 6.9 million net new additions. we do expect the earnings conversation to center on how content investment is paying off. guys >> thanks so much. those numbers due of course very soon the close two minutes away mike >> they started out to the plus side with 80% of all volume in the morning. that's reversed. it's been some pretty heavy determined xitds going on in the afternoon. once we kind of broke the momentum of that rally you have selling with volume and expiration tomorrow might be an opportunity for a turn growth versus value is slippery. banks, software. widespread the banks given up a little bit. sla

so we should look at other sourszs of store hold of wealth. >> is bitcoin in that category >> i thinka where the question will be what are the moneys? what are the store holds of wealth what are the items that you can globally take from -- move from one country to another to buy things some that the governments will not be able to influence such as gold and bitcoin and so on but there will be other currencies i think you will see china's currency become more internationalized in the range of choices will be increasing. we are entering a new era of what is the money that is the store hold of wealth bitcoin has accomplished a lot over the last 11 years not been hacked and still operative and constant evolution. nfts and so many different things that are new. i don't think they're nearly as likely to be supported as other investments. those other investments might be gold, can be inflation index bonds not given enough attention by investors i would expect there will be an interesting redefinition of the popular moneys are and you are correct. no country wants to have an alternative curre

that accounts for 20% of the bitcoin supply long-term holders on the accounts that hold for five yearsr more, they hecontrol 7 or more of bitcoin supply. 75% is held in liquid addresses. the supply of bitcoin has not moved in over a year is 70% and on the signals that bitcoin is a storer value or long-term hedge has not gone away. that is strong in accounts where most of the holding we are seeing is just not what we're seeing in the markets. >> of course, fewer assets for traders. sale or buy can increase volatility as you look to do more with less fascinating stuff. 70% not moving sitting in the wallets or vaults maybe a little good news, noelle have a great day i appreciate it. >> thank you, brian. >>> still on deck. you are very welcome a big beat for big blue. no, no the dodgers ibm. we will talk more in a moment. >>> plus, they keep on rocking in the free world on spotify if the music platform does something with a certain po podcaster. call this neil young versus joe gak icaround ail an urgent question to lisa in marketing. and a follow up. and a “did you see my email?” text. orr

bitcoin. tim, how feeling about your holdings >> well, i mean, i got to tell you, matt damon looks very tiredmercial i feel like he was as exhausted as the chart was b.k. is talking about adherence and network effect i would point out that i think institutional adoption of crypto assets, a block chain technology and bitcoin as a proxy for the sector is only beginning the move here is very much in line with the beta that the asset class trades with overall markets and in fact, at times has led the move up and at times led the move down. to expect it to be treated like gold here as defensive in the middle of this would be not realistic. so disappointing for people holding these asset but when you consider the atmospheric run it is not surprising when you see free fall and amazon and we've talked about where even some of the mega cap toech stocks it is not surprising to see the move here. i think institutions are ready to pick some up. >> time for the final trade around the horn on this friday tim. back over to you >> i'm ready to follow carter and pick up some home depot on valuation and that 2

case for it, but there is definitely pessimism, especially for people who haven't been holding as long. manus: bitcoinposter child we refer to, but in terms of the ripple effects, where does it permeate? where does the crash permeate into the exchanges and other cryptos? joanna: everywhere. you have ether and avalanche down from their highs. a lot of these tokens are down 50%, 60%. doge coin down 80% from its record but it is hanging in there in the top 11. but basically everything in the crypto complex has gone down. there is the real correlation with risk assets over all right now that isn't helping things. dani: joanna, thank you. thanks as always for joining us. manus, we are looking at a bitcoin drawdown, but will stocks follow suit or bounceback? manus: we had one of the biggest turnarounds yesterday since 2008. in asia, down one and a quarter. ♪ anna: good morning a welcome to "bloomberg markets: europe." i'm anna edwards in london, mark cudmore joins us from singapore. the cash trade is less than one hour away. roller coaster ride, asian stocks sink after the s&p 500 stages its biggest turnaro

about bitcoin in that acronym it's really crypto, burks think bitcoin, etherium and other layer one block chains are important core holdings but the reason i use bitcoin it's the most liquid and also the most safest from a regulatory perspective, and we know that in february there may be some regulatory ---ings you know, executive order coming from the white house and that might make bitcoin look a lot more appealing. >> tom, speaking of those sort of v-shaped bouncebacks, we were talking about the arc innovation etf, and i was wondering if you also see the sort of violent bounceback for the names that have just absolutely bombed out, and i know you're not an individual stock-picker but names of this ilk. >> yes mark newton, our technical strategist last week wrote about how he's been watching the arc etf itself and thinks that it's making an important bottom so i think the next couple of weeks will be really inciteful but it does look like the arc needs to be respected and will be part of that v-shaped rally. >> tom, got to leave it there. always fun to get your perspective. tom, beeff, it's fun and better catchy do you l

take a look at bitcoin, no selloff, holding at 42,$200. that's the market action this wednesday. where have the dip buyers gone? we will ask. the website, free home test kits up and running. we tried it for us, it worked but we are hearing about glitches. it will probably be 2 weeks or longer to take delivery. the omicron surge slowing down. here is the big story, the stakes couldn't be higher, we are told it will make 400,000,095 masks available free, resetting the administration after a year of failure. my point will be this, the president has a policy problem. messaging is not the issue. one more point. he's got to show he is up to the job, that he is in command, focused and able to do the job, the country and foreign leaders are watching carefully with kamala harris waiting in the wings. it is a big day indeed. wednesday january 19th, 2022, "varney and company" is about to begin. ♪♪ i hit the ground ♪♪ i hit the ground ♪♪ stuart: top story of the day, president biden holds his first press conference of the year this afternoon, one day before the anniversary of his first we're

bitcoin, you'll need to go back out. you don't need to get your paycheck in dollars by bit coin to spend a bit coin replenish your bank on holdings. you can earn bit coin and spend bitcoin without exiting and going back to that fit legacy system. and i think key here is that remove friction. you let the coin become a currency. so anyone can earn bitcoin, received a coin, spend bitcoin, and there's 0 friction. so this gets back to, of course the scaling question that was always part of the big coin story from day one. and the scaling question. i guess it could be summed up in one phrase, can i use bitcoin to buy a cup of coffee? and that was said many, many times. and as a result there were these hard forks and these other projects that came along that claim to solve that problem. it seems however, that lightning and the introduction of lightening in the popularity of lightning as actually. busy put those side projects in the shadows. yes, those are very powerful narrative back in 201617. you know, we cannot buy coffee with the coin. bricklin is not able to be transacted as money . but if you have a block chain, you basically cann

- around this time are stable coins usdc, why we belief a sierp cycle people investing in bitcoin don't nell hold getting from banks, right now putting money into banks, getting negative interest rates. maria: yeah. well, look. you bought bitcoin at 60 made money do you want part of a financial system? yesterday we spoke with miami mayor francis suarez instituting crypto in miami financial system here is what he said. >> created a collaboration called miami coin generated close to 25 million dollars, for residents no cost no risk for residents, what america's mayors crypto forward innovate we think a generational opportunity. maria: harry what is likelihood we see this in more cities. >> mayor of miami, a very, very smart man, to look at, i think it was one of the countries in caribbean, starting to implement -- implementing bitcoin as currency that you can use to pay for goods and services what i think you are starting to see is that we're not getting yields the thing i think people aren't forcing on that money that -- any bank, earns negative interest what we're trying to push isn't necessarily

once you get cyclical strength, bitcoin, copper, oil perform. tom: do you cut your holdings this point, given some market participants pricing in high? jeff: we look at gold, two things. one, potential that they over hike and lead with a recessionary environment, not pricing in. or you end up with rapid inflation and they are under. right now, gold is pricing in a goldilocks scenario, they get it right perfectly. think there is upside and gold, another $100 an ounce upside. we continue to increase our holdings here. that is against the hedge that something bad would happen. you do not want gold pricing in your backyard. if it is, something is wrong. we still want to hold it as a hedge. our core outlook, what you want to hold onto, procyclical commodities. francine: thank you, jeff. we will talk monty's and opec plus and look at what is happening in technology stocks as some of them slumped. this is bloomberg. ♪ francine: welcome back to the open. a lot of pressure in technology stocks. moves exacerbated by professionals coming in and selling off. on the back of the minutes y

cryptocurrency central bank there, and they don't like bitcoin orbit coin mining, in fact they may very well ban the trading of it. they won't ban that you can hold can not be helping the situation. russia equals 10% of the bitcoin mining market, does it not? so when you're looking at the funds that you have at bitwise, where do you see a real opportunity? >> well that's a great question we're actually relatively positive on russia's development just like china's banning bitcoin mining, actually ended up helping the bitcoin market, more sort of regimes banning bitcoin mining, shows the power that bitcoin has as a tool of economic freedom and the fundamental threat it offers because of that capability, so we see that as a positive. what we're more focused on on the regulatory perspective is actually something happens here in the u.s. in february. the biden administration is supposed to put out an executive order on crypto. i think the tone and tenor of that order could help either end this period of market volatility if it's slightly more bullish than the market expects or extended if it's more bearish, the market is pricing in right now that that

bitcoin had 80% drawdowns. you have to have a thick skin or strong stomach to have invested and hold on. you are probably driving a ferrari right now. as a technician, we're not looking at ge stock. that's been around for 100 years. how much does bitcoin and maybe some other main cryptos align with more traditional technical analysis right now >> it's very good. as a technician coming into this brand-new market, it's sentiment-driven it tends to follow trends, support lines, resistance lines very well. traditional markets have a lot of influences. i think over time, over the years we've seen high frequency trading and a lot of these sort of ancillary events impact the market with crypto it's sentiment there's a lot of technical traders. those levels tend to be respected. recently we've been seeing oversold conditions on the charts there's been a delay in price movement from that >> i think over time, some of these technical indicators as you get more quant driven hedge funds coming in, it creates a lot of noise you have to look at moving averages, long-term indicators a long-term trend is

gap income to show what the incomes would've been if they didn't have to impair the big one holding because bitcoin maxed out and they cannot build enough for the interest, that stock is down over 5% and coal should be a winner, up 33%. there could be a bidding war right now, takeover interest coming from star wars value who values the retailer is $64 a share, cold is getting up there as well as their partners. stuart: amazon, microsoft and of about when not a huge buying spree in 2021 despite threats that they will be broken up. how many deals are we talking about? lauren: about hundred together, microsoft 56 deals last year, amazon 29, google 22 that is more deals in one year that we seen in the past decade. they could try to get ahead of antitrust legislation or any move by the government and the spc to prevent and take apart deals that have happened were prevent future deals from taking place. stuart: look at them go down, microsoft is down $11.284, amazon $2800 a share, 3770 was the highest, what we have on apple and what are they saying about bigger and better than ever for new products. laur

dollar and are typically more stable than bitcoin and other decentralized counterparts in terms of price volatility. paypal allows customers to buy, sell, and holdptocurrencies as well as pay for some purjz through the app. >>> and tesla is rising the price of its full self-driving software from $10,000 to $12,000. ceo elon musk tweeting the increase will take effect january 17th. the monthly subscription price of $199 will also go up as the software gets closer to a wider release date. the package does not actually make your car fully self-driving. rather, it offers enhanced safety features like steering assist and automatic lane changes, but for all those tesla and ev fans out there, the kd be an interesting and more pricey development, chris, laura, back to you. >> that's really interesting. >> yeah. all right, thanks, dom. >> i'll leave the driving. >>> the oracle next on "today in the bay," after two years of grueling rehab, klay thompson finally returns to the court for the warriors. highlights from his emotional night at the chase center straight ahead. >> you can smile, klay, it's okay. >>> and the start of your day in santa rosa right n

that means they're looking at gold and bitcoin in particular as the two options they could use as a quote/unquote store of value. they're saying the gold market holdsnd 20%. what happens if, the big if, if bitcoin gets to around a 50% market cher and rivals gold? if that were to happen you could see that $100,000 per bit coin level the realishi is whether or not bitcoin as a store value has to compete with anyone out there. is there a story where it's not just about bitcoin right now it's the kriptdocurrency that many look to if you look at etherium, ether not even in the same ball park but deutsche on the mean side as well in many ways, carl, by making a move of bit coin hitting a 100,000, not like some of the hyperbig moves we've seen over the course of the last five, 7, even ten years >> we did see some year-end targets for 100 k that later got revised lower. at the top of the hour, it's consumer check week, as you know, on tech check. it's all coming up in about ten minutes. in ten minutes. meantime, markets a bit of a meandering session and dow up 114 despite the drag from salesforce any close positive would be another record close. ayitus ♪ ♪

holdings. all these are down 4% to 12% for coinbase a lot of bitcoin driving that downside move here but that's the reason why you're seeing a little more of that kind of feel, that sentiment driving this tech and growth trade it's become indicative of what's happening with the ark funds one way or the other, you're going to see a lot of those funds and those indices continue to suffer if these names continue to do that, guys. >> dom, do you have any thoughts on the nature of the volatility? we've been talking for a few months now about the number of retail investors getting involved in options, perhaps trading on margin. there can be this mindset as you know as well as anybody that in a bull market every gain is deserved and every drop in the stock is a theft but what does the volatility or the nature of the volatility tell us about how this is the same or different from what we've seen in the past >> so there are similarities, there's no doubt about it. the valuation side of things, the idea that there could be a certain sense of euphoria in certain key parts of the market that might be indic

bitcoin has been using in recent years. it is something where it is definitely buyer beware. people who have been holdingsay this is nothing. i am in it for the coming years. that is fine. you do have to keep that in mind as if you will be investing in crypto. >> how is the fed policy laying into this? we know that crypto benefits from a low rate environment, people just looking for finding yield. >> this is an interesting one. part of the narrative of bitcoin is that it works well as an inflation hedge because the supply is limited. if you invest in it, it probably stays the same. that has not been the case. as we see inflation increasing, we have seen bitcoin and other crypto's not really performing so well and acting more as that risk asset. if there is more money washing around the system, it looks like people are or worried about how crypto will perform and pulling out of it a little bit as well. >> thank you. coming up, we're are looking at covid cases as they search across india. we have 70 averages approaching 100,000. what another wave means for growth and beyond. this is bloomberg. >> >> it is

bitcoin e t f. and if it's under value to the amount of coin that they're holding, that could be another potentially goodbye. and then one other category of publicly traded stock that there would be the big coin miners. so you've got riot block chain. you've got marathon, you've got hunt, and a whole host of others. they're trading down sharply in the last week or so on this pullback. do they represent value, or is it too early for them? no, i think that also represent a very good play. miners are still mining bitcoin at a pretty cheap price. that was one of my concerns when bitcoin was hitting the $60000.00. the fact that the miners were mining bitcoin, a sub $10000.00 prices, means that the floor for the price, a big point is very low, and it would allow bitcoin to go about low and still binding is profitable. so mining is not going anywhere. if you recall that was one of the concerns in the barrel in the last bare market price, a big quote went to $3000.00 people, started screaming. oh my god, mining is going to collapse. how are they going to mine it? that costs more to minor bitcoin than the va