like theomething insurer massmutual putting $100 million of bitcoin into the general investment accountek. i was talking to another insurance company, and they are looking at it now. so, you get this competitive dynamic, and i would presume off of what microstrategy and square have done putting bitcoin on their balance sheet, you are likely to see more companies over time looking at treasury engagement with bitcoin as well. seth, you talk about the big money managers. one of the biggest is guggenheim, and they had been putting through the desire to be able to buy crypto into some of their funds. earlier they came out with an eye watering, eye-popping viewpoint of where crypto is going. made thesten >> we decision to start allocating towards bitcoin when bitcoin was a $10,000. it's a little more challenging with the current price closer to $20,000. amazing over a very short period of time how big of a run-up we had. but having said that, our fundamental work shows that bitcoin should be worth about $400,000. caroline: $400,000. we had to call him up to make sure he was meaning it. yeah,

as you see central banks recognizing it, institutions getting involved with paypal, square, massmutualthis has real legs. it will be tough to time it. for your friend dollar-cost-average in 3 to 4% of your portfolio. buy some today. two months from now. charles: he doesn't have a portfolio. he wants to buy it you answered question. david, shana, stay right there the another reason the market is under pressure for the most part, these large indices, worries seemed like they popped up out of nowhere, they were around, potentially more contagious strain of coronavirus coming out. uk. of course what everybody wants to know is just how dangerous this strain is. so i want to bring in dr. mark seeing bell. the author of "could have have it the politics of fear, the power of science." dr. siegel if there was a test case for the cover of your book, what your book was about is london because we've been hearing about this strain for a couple weeks. i don't know if it was new lockdowns, brexit negotiations, whatever it was we saw sheer panic out there. it is reflected in the markets overnight. >>

a great example is an insurance company massmutual.they announced they had bought $100 million in bitcoin. bitcoin asmpanies by part of the treasury because they see it as a hedge against inflation. many people see it as that kind of positioning they are taking. particularly from the more traditional financial institutions. >> can we talk about fair value? we have the likes of guggenheim saying, $400,000. >> it has been very interesting. you had many firms that came out with statements. bloomberg, 50,000 for next year. , 120 thousand dollar projection. from of personal perspective, when i look at the price of bitcoin, it is more noise. what i like is how many more institutional investors are coming in. we had some of the large banks. plans public. this is very important. players, theyated need to be able to trade with regulated counterparties. elementsrics, those are the entry. they are probably more important factors than just the price of bitcoin. theave to look at some of fundamental drivers with the entry of institutional investors