been on the receiving end of that scorn, than my next guest, founder, zoo yo of microstrategy, michael saylorng like this, my man. the crypto crash has kept your name trending for a week or so. the naysayers, the tongs are wagging. i want to ask about the health of your company, reportedly there would be all sorts of margin calls, you're down 1.5 billion. how is microstrategy sitting okay, everything all right? >> we're just fine, charles. we've taken the long view. we've got a 10-year strategy. we have a great capital structure, a lot of permanent capital this has been an exciting time but otherwise we're just motoring through it. charles: okay. exciting as euphemism like crazy as hell time, crazy like that? >> bitcoin has gone through three boom and bust cycles since we got involved f you're a short term, a short-term investor this is high-risk, high bait tax high volatility asset. but if you have a 10-year time view, if you're a long term investor it looks like a low risk store of value asset. it comes down to what your time horizon, what are you looking for out of the asset. charles: talk

now, if michael saylor says this is the level -- >> it will be an interesting conversation with him. he's -- >> he'll be provocative. >> i'm going to be myself and i assume he'll be himself too. that should make it interesting. >> do we talk about it too much? the total market cap is less than half of apple >> we want to appeal to the 20-year-olds before they go away. >> they're not watching. >> they're working from home what do you think they're really doing? working? >> itch a 20-year-old. he's actually in the office maybe watching >> he's insane people from home watch our show and play bitcoin after that's over, they put money on steph curry it's the same thing. >> no. that takes research. >> let's save it for after the break. we'll get cramer's "mad dash" and count closer to the opening bell on this fed day this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and

let's bring in micro -- michael saylor of microstrategy for more on his take. i know this is probably a rhetorical question, but do you have any regrets? michael: you know, we did a lot of back testing. i have gone back and looked at the numbers. on august 10, 2020 when we announced our $250 million bitcoin by, since then, bitcoin is up 72% and the money supply is up 17%. the nasdaq is down 2%. gold is down 9%. the s&p is up 9%. the only thing that looks better than the money supply expansion is single-family homes up 26%. i could not have bought the ends of dollars of single-family homes. that's impractical. the bottom line is the coin strategy is 10 times better than any other alternative. so i don't regret it. we have 2.8 billion dollars worth of bitcoin on our balance sheet now. when the markets turn. our other choice is to give all the capital back to the shareholders, in which case we would have nothing and be struggling to get by without any assets. emily: is cash still trash? michael: yeah. the money supply expanded by 41% since january 4 2021 we went i

michael saylor saying he plans to acquire more bitcoin in the long term.es that mean we are seeing more recommendations in terms of defensive positions across fx? annabelle: that is what we are hearing from j.p. morgan. even with buying opportunities that could be emerging with carrion value space, still saying -- recommending to stay defensive in fx because of this tightening cycle, lingering macro risks that are producing some anxieties and reducing the quiddity as well. you can look at what the strategists are recommending. they are saying boost along swiss franc exposure. they are recommending westport yen -- cross support yen -- cross port yen. they are recommending to keep a long singapore dollar position. haidi: let's get you a check of the business flash headlines as sources tell us providers have made an offer to buy a platform. they are said to have support from the group with new investors with a company's board expected to meet on monday. early this year, it was investigated over investigations of financial irregularities leading to the dismiss

you want to hear that conversation and what michael saylor thinks about that.na's rates staying unchanged, later we will have more on that policy outlook as we continue to see china's policy makers try to support the economy and target that 5.5% growth this year. the expectation is the key policy rate will remain unchanged this month. this is bloomberg. ♪ as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable 5g network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™ >> you are watching daybreak: asia. 2022 has been a year where everyone on wall street got it wrong and so did the fed and other central banks. you are looking at predictions into the second half. annabelle: let'

michael saylor said thing bitcoin is programmable. can you give us an example of an innovative company that is not an exchange or marketplace >> there are so many examples of companies that are built today that wasn't even possible three years ago. i want to hammer home the point that there's so much infrastructure being built and even in the short three years, so many companies are possible, business models that are possible that were not possible before anything nft related protocols can use zora to create smart contract instead of a new one. infrastructure is awesome now and so one of the really big trends in the crypto space that i'm seeing is nfts and that's one of the rise of new nfts, bypassing the middle name, recording labels i think the economy which is a hot and thriving topic, i think that can be a game-changer there's so many use cases depending on who you are i can talk about this for hours. that's just something that's top of mind for me. >> thank you so much for being with us today. >> thank you >>> one more name getti

. >> michael saylor, he's an evangelist for bitcoin, the ceo for microstrategy.ad to say yesterday -- >> that was a good interview >> he's still a believer. >> the time horizon is ten years. so the crossover point is four years. nobody's ever lost money visiting in bitcoin for four years. if you want a surrogate for the book value of the bitcoin network, it would but the four-year simple moving average. that's about $21,685 bitcoin has only touched that point a couple times in its history, and those have always been great buying opportunities. bitcoin is on sale >> there you go. that means right now the price is below that. he didn't say he was necessarily buying, but he indicated it's a buying opportunity. >> waiting for the bitcoin buyback, i guess he's a neil diamond fan. >> i'm a believer. >> i saw bitcoin's face. >> he's a believer he saw her face. >> that's the line. >>> that is about the value of his analysis what people make fun of jay powell, you should make fun the that fella. >> i asked him a lot of -- every time there's still a lot of people who follo

michael saylor said last week, we have $400 billion industry with thousands of unregistered securitiescollateralized with bitcoin. we need regulation. bitcoin unfortunately suffers when some of the other projects fail. charles: i have less than a minute to go, in your mind walk us through the script. what happens next? seems you're inviting regulations. i don't blame you. all the bad news that happened it's a learning lesson, a tough learning lesson. what happens after we make safeguards and bitcoin can live up to the potential? >> we need more clarity. we already know bitcoin is a digital property and digital commodity and we need fair accounting for institutions to come in and we need a bitcoin that people can trust and people understand the securities so they have proper disclosures, proper filings. i think all of that will happen. i think all will be good for bitcoin. with a macropicture we need to see what happens with inflation. i think we'll see a short term bear market rally and followed by some more pain. fed will have to pivot. people should listen to what putin said about th

i know you've had michael saylor on your show. 30k, you can get a great ride on those two stocks. charles: yeah, if bitcoin went to, let's say, 15,000 or something like that, i think those stocks would double. i know micro strategies would be up at least 50% or more. >> i agree. charles: rob, thanks a lot. appreciate your wisdom, my friends. >>> coming up, why investing in this market sometimes -- listen, we know it's a long game, but sometimes you need to ignore headlines and think about real intrinsic value. it's not a new idea, by the way. we'll be right back with my takeaway. ♪ ♪ at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ discomfort back there? instead of using aloe, so you can have more success tomorrow. or baby wipes, or powders, try the cooling, soothing relief or preparation h. because your derriere deserves expert care. preparation h. get comfortable with

charles: we have michael saylor, talk about someone who put it all along the line for bitcoin.yne. this is "making money." it's alive, it es alive. stocks are in one of the worst drubbings in history. is this a head fake? i agree with individual investors the playing field is unfair. i will share an example with you that will make your head explode. nobody has more bitcoin

you've spoken to michael saylor. his software company gone all in for bitcoin last few years.gy owns 129,000 bitcoins, they bought them at an average price of $45,000. so if you do the math, microstrategy is a billion dollars in losses and counting there on their bitcoin holdings. there are concerns, in terms how they will pay for an upcoming silvergate margin loan that tesla is going to lose at least nine figures on their 43,000 bitcoins. spent two billion dollars accumulating. jack doors sieve's block, as square, has 8,000 bitcoins. to them that is a loss of $40 million on paper at least. throw in the bitcoin miners, marathon, riot, crypto exchange, coinbase, largest corporate holders of bitcoin. would i argue elon musk is probably the most influential influencers out there. there are risks there, are numerous reports tesla could, not say they will, but could report first loss in three years because of those bitcoin losses especially coupled with the shanghai covid lockdowns that we've seen over several weeks and months. you have celebrity holders like jake paul, who has bee