if you look at bitcoin's total share of the crypto universe, it is down to 43%. it was 70% at the start of the year. in addition to does: and other silly coins -- in addition to dogecoina nd other silly coins, ether is really catching fire. it -- that is starting to take market share away from bitcoin. you are seeing the crypto space broadly not just move in one direction. joe: i want to go back to the rates discussion. we had the breakevens continuing to rise. are you surprised that even with so much intense inflation and chatter, commodities and the bottlenecks and difficulty supposedly in hiring workers, although there is a lot of debate about that, that markets -- that nominal rates are not picking up at all and with no expectations the fed will respond to any of this? katie: it is striking you are seeing nominal yields pretty much stay in their lanes. that is in spite of the rising breakevens, the rising inflation expectations. they are still staying pretty muted. you are seeing this tug-of-war between real rates and rate -- and breakevens. right now it seem

up money for bitcoin so yes there are parts of the crypto universe that is speculative in nature things like dogecoin that we talk about things that don't really have an application or utility that's being hyped up as a need when the market what we witness against happening in the earlier this year but that was a very small part of it things like that point and in theory and they have real value your technology and real use case is being developed so it's not just speculative and of course those are risks just as there are risks inherent in any part of the message but bailey's comments are just pure fear mongering and at this point trying to jump at the refusing to adapt and accept changes that are coming into the financial system and even china who actually did help like hold a new 5 years ago they've not even changed china went so far as to ban bitcoin back in 20173 and he's referring to the financial system and the speculative frenzy that it would generate but even dave come around to accepted it and went as far as to officially call it an alternative investment rather than just a pu

turn to crap and exchange their worthless the up money for bitcoin so yes there are parts of the crypto universe that is speculative in nature things like those coin that we talk about things that don't really have an application or utility that they hyped up as a need when the market what we witness and gang up on and the earlier this year but that's just a very small part of it things like the coin and in theory and they have real value meal technology and real use cases being developed so it's not just speculative and of course those are risks just as there are risks inherent in any sort of investment but bally's common are just pure fear mongering and at this point trying to do now that the refusing to adapt and accept changes that are coming to the financial and even china who actually did help like hold a new 5 years ago they now even change china went so far as to ban big wine back in 2017 during these risks to the financial system and the speculative frenzy that it would generate but even dave come around to accepted it and went as far as to officially call it an alternative investment r

emily: it sounds like you are worried about a number of bubbles in the crypto universe. know you are hesitant to go short on it, but what will pop the bubble? what should investors be looking for? mike: let's be careful. i do not think crypto is in a bubble. i think there are some coins that are going crazy, so what happens often is institutional money finds its way into bitcoin. ethereum has had a run. a lot of people invested in crypto and all of a sudden have a lot of wealth, and are like what is next. you have retail driven rallies in coins like ethereum, classic, bitcoin cash, coins with no use case at all, but they have become the hot asset of the moment. these coins will go up in price and will go back down in price. emily: do you think ethereum will catch up to bitcoin in value and how soon? mike: i don't know. bitcoin has a very specific lane as digital gold. we know the market cap of gold is somewhere like $9 trillion. bitcoin is only something like $1.2 trillion, has a long way to go before it becomes gold. the next year of the dragon is 2024. i think bitcoin c

the crypto universe saying it's leading investors to doom and will explain his call after this quickader in 5g. we also believe in putting people first by treating them right. so we're upping the benefits without upping the price. introducing magenta max. now with unlimited premium data that can't slow down based on how much smartphone data you use. plus get netflix on us, and taxes and fees included! you won't find this with the other guys. in fact, you'll pay more and get less. right now, pay zero costs to switch! and bring your phone -- we'll pay it off! only at t-mobile. keeping your oysters business growing has you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo . >>> hi, everybody. welcome to "power lunch. i'm kelly evans. tyler matheson joins us in a moment it's a crypto crackdown. china leading the charge but now countries are stepping up regulation and the u.s. is starting to th

that story >> reporter: 21million bitcoin the golden number that can ever exist in the digital crypto universethan 18 million has been discovered or mined. what happens when we get to 21 million? before we explore, we need to look at how bitcoin is created unlike other commodities mined like copper or coal. bitcoin is different there's no physical digging. high power computers compete to solve math equations whoever wins, gets the bitcoin added to the total pool. once the miners unlock and hit 21million, the supply will be tapped out when will that be? is it too late it invest the timeline may be longer than we think there are only 3 million bitcoin to be discovered the amount earned decreases over time which slows the process of unlocking them when bitcoin first began in 2012, the reward was 50 bill c bitcoin. now miners gain 6.25 bitcoin for every new block discovered that will decrease every four years until the last bitcoin is found. some say because of the decrease, we may be 100 years from mining the very last one. in approximately 2140. i'm told that timeline could move up a little bit

let's get more on this story on the broader crypto universe. our reporter joins us.to the higher energy consumption, as a reason to stop accepting it as a form of payment for tesla cars. this is not a new concern that has been raised by critics of crypto, but in particular, of the amount of energy that is consumed by bitcoin mining. are there steps being taken to fix the problem? >> absolutely. it is an old problem. for years now, and a lot of minors have been using renewable energy. but i think now that musk has highlighted this problem, and a lot of the companies in the crypto space are starting to take it more seriously and trying to talk more about what else they can do. shery: what will drive the next leg up or down for cryptocurrencies, especially bitcoin? >> today, i talked with mike, the crypto investor, and he feels that the next driver will be bitcoin etf. if it is approved. he think it might happen later this year or early next year. but this could be something that fuels the next leg of growth. haidi: we heard from mike talking about where he and the vola

i know i believe you're a believer in the crypto universe.ind of turmoil, is this thing ready for prime time yet? >> ready for prime time is you know, no, it is not ready for prime time today. if the answer is, can we start today, using cryptocurrencies as a replacement for some of the things we do in the traditional financial space? yes, it is the beta version of a future financial system to come and you know, strange way elon musk is helping you know, stress test the system, iron out the bugs, learn from these, problems that he is creating to try and put in future revisions to prevent these things from happening. charles: what do you think the one part of this stress test that you like the most so far? i thought they came through last week pretty good, particularly considering the role in the colonial pipeline that, you know, has been the key excuse for janet yellen and others no to the accept cryptocurrency in general? >> i agree. you know, just to take that one, for example, i think what people are starting to come to the realization of i

thoughts on crypto what is happening in the crypto universe right now?good support level at 32, 33. i know it broke it briefly about it is back through. i like to look at other levels. through 40 i would be optimistic. looking ethereum held 2500 to 3,000, optimistic. xrp, 130 would be my number to get more optimistic. charles: #by the dip. michelle, thank you very much much. >>> if the biden administration didn't create enough big government they want to go bigger. just how big and how much it means for your wallet. i will ask douglas holtz-eakin because no one knows better. we'll be right back. ♪ (vo) this is more than just a building. it's an ai-powered investment firm with billion-dollar views. a cutting-edge data-security enterprise. yes, with a slide. a perfect location for the world's first one-hour delivery. an inspiration for the next workout cult. and enough space for a pecan-based nutrition bar empire. it could happen. this is where dreams become brick and mortar. find yours, on loopnet. ♪ ♪i've got the brains you've got the looks♪ ♪let's make

the crypto universe is definitely surprised by this one. anna: thank you very much. ypto editor in singapore, thank you very much for joining us. let's get a bloomberg business flash with laura wright. >> deutsche bank is rearranging how it sells fixed income trading products. it is looking to lower costs without sacrificing revenue from the company's biggest source of income. the new model will be able to provide purely electronic or voice offerings to one set of clients and a more advanced and more expensive service to the other. boeing has provided instructions on how to repair an electrical issue that is keeping scores of max jets grounded. it is a key step in preparing the -- repairing the manufacturing defect that stalled the plans to introduce its flexure plane. the issue potentially affects hundreds of models made since early 2019. dating app bumble has seen a jump in revenue, adding new users in the first quarter, but the service that gives women the first move is being cautious about how fast people will return to meeting in person. shares are falling in ext

still on the incredible story of what we see across the crypto universe. in to bloomberg radio. you will get the in-depth analysis from the daybreak team. they are broadcasting live from our studio in hong kong. you can listen in on the app. plenty more ahead. this is bloomberg. ♪ haidi: a quick check of the latest headlines. pfizer raised its forecast for the fiscal year and said the coronavirus vaccine revenue will be higher than expected. the drugmaker expects vaccine held -- vaccine sales to hit 26 billion dollars. third-quarter sales and profit also beat estimates nissan is selling its $1.4 billion stake in -- it looks to shred holding supply. those models are discontinued due to poor sales. apple is rolling out a new potential revenue generator. it launched a new slots for a paid advertisement. on the app store search page, giving ads more exposure. previously, developers could did. -- could bid. advertising is excited to be a small slice of revenue. let's take a look at the state of play when it comes to trading across asia. we are seeing upside of

that create jobs and those should be rewarded with eye lower tax rate >> so, jim, the entire crypto universease, and then you got a lot of these other companies i don't snow, square, paypal, add it all up. and then listen to charlie munger i mean, both viewpoints can't be correct. >> no. >> i don't think >> it can't. again, i see younger people had made very big investments by buying slivers of bitcoin. and they did incredibly well and you could say, well, wait a second, you don't know if they'll take it out and crash. but i've seen younger people going to this asset class which i think, by the way is an asset class, and make great amounts of money and you can affasterisk t money if you cash it out both gentlemen fought technology they bought the wrong stock in ibm. they got to apple by going to dairy queen and seeing kids buying apple they did not do the work where were they with these stocks? where were they with faang these were investments they had to make. they told $12 billion in stock during the pandemic period when a lot of these people got involved and made money. are i more in the

crypto whales very prevalent in the universe and it is possible we saw some selling. tt: or they are debtor lost their passwords. a viewer writing in, joe saying, it is still a clown currency but joe is a crypto cheerleader, not a skeptic. not sure where you stand and the same could be said of elon musk. what do you think about the tesla founder's involvement in this wild ride? joe: tell that viewer to email me. i want to get his reasoning for calling me a cheerleader. i think elon likes to have fun. i like to have fun so i can relate. it is fun talking about cryptocurrencies, it is fun to tweet about doge coin and elon is the king of trolling and having fun on the internet. he has become the third richest person in the world because he combines having fun with having built a lot of extraordinary stuff. when he bought bitcoin in february he was seen as the new god of the space and then i think he enjoyed being that and sort of toying with all of his followers. but it kinda flies in the face of how robust it is. bitcoiners fantasize about taking on the central bank, fan

crypto on our platform today. all demographics it is universally appealing. he first one they're interested in, the largest most broadly known. increasingly users are interested in the long tail of crypto and you can see that in this numbers today that the assets are seeing increasing volume in trading, assets on our platform. we think over time more and more users are getting engaged in crypto assets, what we're excited to see. >> there are many companies that do what you do. you are the most established. i would imagine if i were you you would like more regulation because i think you would stand up under a lot of scrutiny. would you like more regulation in your business >> we have been under regulation since we were founded. our founders, brian and fred, early on believed we needed regulation in crypto. yes, we like partnering with regulators and want there to be a level playing field and think it's a blessing and not a burden. >> do you think we will have a full service credit card embassy and check card coinbase? absolutely. we hope to be the financial acc

crypto currency. and that sent shock waves around that universe. the big story the c.p.i.eport here's some of the reaction of that data. take a listen. >> under my baseline i expect it to return to or run perhaps our 2% longer run goal in 2022 or 2023. this is a time when i would expect to be a fair amount of volatility in inflation. >> we need to expect some surprises because the economy closed down in a very synchronized manner. but it's reopening in stages. >> there will be more bumps in the road. >> the markets are challenging to the presumption that inflation is trans yent. >> we're at a bigger turning point that the fed has been describing. >> they have re-ed a lot on inflation expectation being anchored. this is the type of thing that's going to start to move those inflation expectations. >> the big question now, everyone will be asking, how much of a c.p.i. increase will be sticking around. danny burger joins us to break down the contributors to the leap in prices. danny, i think we need a new word, transitory, fugacious deep, trans transitory what, do you think? >

universe is growing. bitcoin's market value as a% of total crypto market value is below 50%. should say. >> that's right. >> think about tp the whole universe is the $2.3 trillion right, the biggest company on the planet at $2.3 trillion. i might -- listening to mr. buffett and in mr. mung are talk i'm issuing the get off my lawn coin and make a fortune, because that's what they sound like. the arguments are so 2012. i'd love to hear what b.k. has to say or some other folks i'd love to hear mccale jolet and michael say. i understand concept iks i'm somewhere on either side of the coin no pun intended but to hear those guys talk it's 2012 reduction. >> the market tells the truth. we'll see. coming up lift on time to pump the brakes on this one options tradeder not to late to vote on the twitter poll for lockheed martin cast your vote at. don't go anywhere. g >>> welcome back here a sneak peek at the skramer cam. jim talking with the ceo of lydol. big news from fidelity today "the wall street journal" reporting the asset manager halved the value of the shares in ant group now v

i think there's $2 billion in revenue from crypto activity specifically bitcoin and jack dorsey said he thinks it's the universalht now. >> todd and michael, thank you head to trading nation for more analysis ty >> thank you. >>> amid the covid crisis you expect medical companies stocks to soar but for the medical device maker becton dickinson everything else is lagging the ceo will join us to explain. we'll be right back. >>> and now the latest from trading nation.cnbc.com and a word from our sponsor. (judith) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? don't you just ride the wave? (judith) no - we actively manage client portfolios based on our forward-looking views of the market. (other money manager) but you still sell investments that generate high commissions, right? (judith) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money? only when your clients make more money? (judith) yep, we do better when our clients do better. a

cryptos. that's just ahead for you. indiana university joining the list of colleges requiring the jab.versing its post about the wuhan lab, but my next guest says it's too late. big tech has already revealed itself as a state actor in disguise. after this. ♪♪ nobody builds 5g like verizon builds 5g because we're the engineers who built the most reliable network in america. thousands of smarter towers, with the 5g coverage you need. broader spectrum for faster 5g speeds. next-generation servers with superior network reliability. because the more you do with 5g, the more your network matters. it's us...pushing us. it's verizon...vs verizon. and who wins? you. trelegy for copd. ♪ birds flyin' high, you know how i feel. ♪ ♪ breeze drifting on by you know how i feel. ♪ ♪ it's a new dawn... ♪ if you've been taking copd sitting down, it's time to make a stand. start a new day with trelegy. no once-daily copd medicine has the power to treat copd in as many ways as trelegy. with three medicines in one inhaler, trelegy helps people breathe easier and improves lung function. it also helps prevent

haidi: speaking of crypto, we continue to see these developments when it comes to elon musk and his ever-changing relationship with the cryptocurrency universey, we sell that move in bitcoin. muska said -- elon musk said tesla would stop accepting bitcoin for payment. he earlier said this does not mean he does not believe in crypto. he strongly believes in crypto, but it cannot drive a massive increase in fossil fuel use. it raises a really interesting conversation first about the fact that elon musk is the person behind tesla who obviously knows about these environmental issues and challenges being a huge proponent of cryptocurrency, which experts say is he usually energy intensive -- is hugely energy intensive. shery: what changed in the couple of months when he bought one and a half billion dollars of bitcoin. take a look at what cryptocurrencies are doing. going continues to be -- bitcoin continues to be under pressure. that is it for daybreak australia. daybreak: asia is next. stay with us. this is bloomberg. ♪ wanna help kids get their homework done? well, an internet connection's a good start. but kids also need computers. and sometim

crypto what do you look to buy? >> walmart reported terrific numbers. university've got search upgrades of price targets and look at a walmart. i got to tell you, when you go back and forth with walmart, what you discover this has nothing to do with the opening trade, i mean the opening versus closing trade where some people feel like, that just went into housing, when you go to wall mart, david, they actually have product. a lot of places are out of product. walmart's well stocked walmart stores are clean walmart stores are better than they've been in a long time. and they do not have this housing component. so david, i think that they're good now, carl, david's never been to -- wouldn't know the difference between a walmart and a k-mart and k-mart by the way owned by eddie. >> i'm aware. >> eddie was like cher >> eddie, of course. >> and you can go back to these stocks and take a hard look at them and you can go back to health care, they have nothing to do with these kinds of trades, but you really got to steer clear on what i regard as the woodstock trade becau

crypto is trading all weekend long that is different from stocks and bonds. i think you have to understand it is not a vix. it is not a true risk when you look at the cryptocurrency universence this stock i'm optimistic watch the consumer it's going to be strong. >> yeah. a lot going on this week we always appreciate the cio of sanctuary wealth's view. jeff kilburg thank you. love seeing you. folks, that does it for us on monday we leave you with dow futures up 150. nasdaq up .50% crypto on the way back a big news day "squawk" and the gang picking it up now we will see you tomorrow have a greatay d nvention hinking. t get us to the moon. it doesn't ring the bell on wall street. or disrupt the status quo. t-mobile for business uses unconventional thinking to help you realize new possibilities. like our new work from anywhere solutions, so your teams can collaborate almost anywhere. plus customer experience that finds solutions in the moment. ...and first-class benefits, like 5g with every plan. network, support and value without any tradeoffs. that's t-mobile for business. in business, it's never just another day. it's the big sale, or the big presentation. the day where e

crypto is always interesting. i viewers to look at this photo. it shows three universityeatening a class-action lawsuit. role tape. >> this picture popped up. the university was swift and fierce interaction, gave my daughter less than 9 hours to move off-campus essentially making her homeless with no recourse. >> the punishment has endured the last two month has been more than enough and the suspension is draconian, complete overkill. ashley: draconian and overkill. let's bring in todd pyro. you are a lawyer. do the parents have a case. >> i'm licking my chops, look at how the case was adjudicated at the college level, you and i both know college is have kangaroo courts, the same judicial safeguards as russia. if you throw the case into an actual court room where actual evidence is presented and debated, they have an excellent case and one of the key points, there was a celebration, it was inside, people did not have masks. in this situation you have an outside party with masks, without masks, a situation where you are college kids at the end of the day, you have a bunch

cambridge university index that is much energy is used, electricity is used mining bitcoin at the moments as the netherlands uses as a country, so a lot of electricity, and there is pressure on the cryptol to mine bitcoin, and lots of people tried to do it, and some of them are probably making money, and some of them are not. i showed some of the pictures on twitter of the mining operation released by those west midlands police coming they said that his old kids. the only way that would�*ve been profitable to run that is if they were getting electricity for free, if they had actually been paying for it, they would�*ve been running at a loss. it�*s a kind of space race to buy ever more expensive kit. that�*s got a lot of people worried, saying what is it for? it�*s not really operating as a currency in the way you or i would understand it, one of its main uses, fact, is by criminals engaged in ransom where operations, getting people to pay with bitcoin. so big questions over the function of the currency and its impact on the environment.— currency and its impact on the environment. . , ., , environment. still huge questions around bitcoin, _ environment. still huge questions around bitc

one major university offering a degree in social justice. we have the story. how do you protect your cryptor digital assets secure. i don't understand this but he is here to explain after this. ♪. ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa usaa. what you're made of, we're made for. hey lily, i need a new wireless plan for my business, but all my employees need something different. oh, we can help with that. okay, imagine this... your mover, rob, he's on the scene and needs a plan with a mobile hotspot. we cut to downtown, your sales rep lisa has to send some files, asap! so basically i can pick the right plan for each employee... yeah i should've just led with that... with at&t business... you can pick the best plan for each employee and only pay for the features they need. stuart: not much price movement on the market this morning. we're up 50 for the dow, 60 for the nasdaq. 435 up for the s&p. -- 45. bitcoin, $40,000 a coin earlier. 39,165 right now. wh

university robert siegel joins us now. right off the top, will we see regulation of cryptos in america?sons not the least of which the current administration will want to first protect consumers from rampant speculation, potential abuse of the financial system and when you see such fluctuation, the market could be manipulated. previously might have been done by institutions and now it is done by people and unsophisticated investors being taken advantage of. it is coming. stuart: if there is pushback in terms of regulation coming because of the ransom paid to the pipeline? >> the ransom paid in bitcoin would show that's why bad actors want action on the crypto currency because it can be traced later. bad people and bad actors will use these instruments to get what they want and governments don't want bad actors to hold institutions hostage, corporations hostage. you are going to want to see governments want to control that to protect companies and individuals. stuart: you say regulation is definitely coming. what will that regulation look like? >> hard to say. probably certain currencies

university lecturer said regulation is almost inevitable. making bitcoin regulated like a stock rather than currency. can't see how that would be good for cryptositcoin, most of them, i am in favor of spoke regulation, martin regulation, sensible regulation that support the ecosystem. should be regulated as a commodity? that is the question. my biggest concern is regulations are sensible, and support the well-being of the american people, the greatest will transfer in history of the world, the industrial revolution, i hope the american people are beneficiaries of it. i hope we regulate this at a state level. so that the states can try out a bunch of different things before the federal fight government gets involved because if the federal government gets involved it will be political. lobbyists, i hope we do this at a state level. and hopefully it serves the american people. >> if you did get regulation, celebrities would not be able to manipulate the market as they have in the past because they would be cracked down on by the sec or whatever the authority was. how do you feel about that? >> the role of regulation is to serve and protect the peo