joining me now in studio, brock pierce. brock, good to see you. a big selloff here. there's more sellers than buyers, and we've seen this. as much as we dream of a time where where this becomes an on-correlated asset class, it tends to move with the markets. when we see a big selloff in the tradition aleck bity market, stock market, we tend to see the same thing in this space. we do expect a decoupling at some point. that has been one of the promises of this alternative asset class. but not yet realized. and i do expect that to change though. liz: so you're still a believer. does that mean you're still a buyer? because, you know, your neighbor in puerto rico, peter schiff of euro pacific, said to me, liz, the early bitcoin billionaires -- that would put you into that category -- they're not buying anymore. they're buying assets. they're buying jets, private jets and fancy homes. are you still buying? >> i am. i continue to buy, but i'm invested in all sorts of things, and peter schiff does manage my gold mining stock portfolio. i am not one of those people that opera

joining us now, bitcoin foundation chairman, brock pierce. or-break for these cryptos, right? >> well i think the technology is going to continue to exist and i think it is going to change the world. that is my perspective. now the question is it bitcoin like you had friendster, myspace, instagram, tiktok, will bitcoin be the winner? will it be ethereum or something else? i think it's a by nary outcome. bitcoin is going to million plus or likely going to zero but all things eventually go to zero like all of us die. david: you bet on ethereum, if i'm not mistaken, right? you think that is the one that is going to survive? >> oh, no, i'm chairman of the bitcoin foundation. bitcoin is clearly in the leading position and will likely stay in that leading position. what ethereum is added additional functionality, with smart contracts, decentralized applications. though they're going through their crucible moment as they attempt to upgrade to ethereum 2.0 built on proof of stake. we will see that soon and if they succeed in doing that, they're well-p

we heard or from brock pierce earlier on this. tells us about where growth areas are going. >> growth is getting banged up, maria, and crypto is just getting bludgeoned from every single possible direction thement -- direction. finish i read an article in the "wall street journal" maybe about a year ago, and the general theme was millennials are shunning financial advisers. keep your prix if round of golf, we don't immediate you. i'm 90% in crypto the, 10 percent in the ark innovation etf, and i'm doing just fine. i don't need to pay an adviser. couch. -- ouch. [laughter] that's an asset allocation strategy that would be very, very painful right now. when i look at crypto overall, it seem like it's losing etc. utility. and i don't know what the catalyst is to take it higher. i mean, it's no longer an inflation hedge, otherwise it would have been up yesterday. it's not a risk-off asset. big brother's watching, and he's going to make you pay tax on it. and on top of all that, liquidity is drying up. we're seeing the second largest f

stuart: got it, brock pierce, thank you very much for being on the show today. thanks a lot. senator elizabeth warren she's taking on crypto. she's specifically calling out fidelity's plan to put bitcoin in 401k's. lauren: she has a few issues with it. this is part of letter, investing in crypto currencies is risky and gamble and we are concerned that fidelity would take risks of millions of americans' retirement savings but probes potential conflicts of interest, she names two, fidelity minds for coins and fund for wealthy investors. what fidelity wants to do is let companies determine if they should allow their workers to allocate up to 20% of their nasdaq in crypto currency. that essentially gives workers access to the new and potentially growing market. it's like the great equalizer in a sense. senator warren is concerned about the things that could go wrong with it and the volatility of it but you can make the argument right now that bitcoin is seeing just as much volatility as a traditional stock market. stuart: okay, i think that wraps up our crypto curre

crypto stuff that was swooning like crazy yesterday coming back with a vengeance today, we have brock pierce are relieved especially in the crypto arena that we are seeing a day like this but some are calling it a temporary bounce. >> i'm sure we will see another down day but at least we found the bottom, the crypto market was in freefall. neil: you are convinced we did find it? >> we found the temporary bottom. we may find a lower low as we often see with crypto when the traditional financial markets drop, when the traditional financial markets are up, even more higher highs, lower lows and in this instance we got hit with a shock wave, the implosion of luna and the third largestot too comfortable with too fast. neil: what worries me, of all the developers you mentioned, the problem with coin base because it is really in exchange for buying and selling a lot of this, stock has been decimated back a little bit today but nowhere near the 60 it was. what worries me about that, you buy a lot of the stuff, people who bought that stuff and still have it, they are potentially screwed if they go un