many other areas too you know that there's a lot of media attention but for instance you have micro strategies right they just went out and raised $1000000000.00 to buy a $1000000000.00 worth of of bitcoin that was the point of them doing that let me put that into perspective for viewers that means that micro strategies will be buying about 2000 dollars with a big coin every 2nd every 2nd in order to be able to fulfill that order so that look there's an incredible amount of interest in between right now yes it dropped back a little bit but the trajectory continues upward and onward at a fevered pitch wow that is quite an investment now jeffrey set up point is this rise in bitcoin being accelerated by companies like tesla or is there another reason why the cryptocurrency is growing so quickly right now. well i think what we're seeing is a decline in the incredulously that's lasted for like the last 10 years people are coming around actually believing is real you should also mention here that master card and pay pal have announced in february the. law on into making it possible that their own pa

so many other areas too you know that gets a lot of media attention but for instance you have micro strategies right they just went out and raised one $1000000000.00 to buy a $1000000000.00 worth of of bitcoin that was the point of them doing that let me put that into perspective for viewers that means that micro strategies will be buying about $2000.00 with a big coin every 2nd every 2nd in order to be able to fulfill that order so that look there's an incredible amount of interest in between right now yes it dropped back a little bit but the trajectory continues upward and onward at a fevered pitch wow that is quite an investment now jeffrey set up point is this rise in bitcoin being accelerated by companies like tesla or is there another reason why the cryptocurrency is growing so quickly right now. well i think what we're seeing as a decline in the incredulously that's lasted for like the last 10 years people are coming around actually believing it's real you should also mention here that master card and pay pal have announced in february that they're in europe for an end to making it poss

. >> all right >>> coming up, bitcoin breaking through $50,000 as micro strategy doubles down on t but could more regulation put an end to this crypto rally we have details on that. >>> plus, walmart the first big retailer, i mean really big retailer set to report earnings this week,e ll sak wwipe to the former u.s. ceo on why he thinks there could be a retail renaissance. more "power lunch" after this. it's hard to hope, hard to cope with crisis. so we get to work. we mend, fighting for every person in every neighborhood; we, the coming of the common good. so dare to care, to be hope-sided. we're never divided, when we live to give, we always live united. ♪ irresistibly delicious. ♪ when we live to give, ♪ pour some almond breeze. ♪ ♪ for the maestros of the creamiest-ever, ♪ ♪ must-have smoothies. ♪ ♪ it's irresistibly delicious.♪ ♪ more almond breeze, please! ♪ >>> bitcoin trading right now just below 49,000, it passed 50 grand for the first time today and it is up 6,000% from its lowest levels of the past year and that has caught the attention of the fed let's bring in steve liesma

the ceo of micro strategy.oin to buy more bitcoin. crazy. here are shares of churchill capital 4. lucid motors is going public with a merger with the blank check company in a deal that values the combo at $24 million. this is one that's been rumored for a while. you see that symbol go across on the tape nonstop on cnbc this is a first on cnbc interview with lucid motors ceo peter rawlinson in the 9 a.m. hour of "squawk" on the street." >> ylan mui joins us with more on the president's stimulus bill. >> reporter: good morning, andrew the house is expecting to vote by the end of the week next up is the rules committee and then it will head onto the floor. this is expected to pass the house fairly easily. likely along party lines as republicans slam this bill as too big and too broad. now president biden has indicated he is still willing to hear ideas from the other side but he also points out that his plan enjoys strong public support as is. >> now critics say the plan is too big. let me ask a rhetorical question

micro strategy up 20%. bitcoin, all-time high te tesla off because of the bitcoin news it will be a discussion we continue to have he didn't deny talking to elon musk. >> he certainly didn't it wasn't a no or a yes. we have got to go. >> thanks for watching "power lunch," "closing bell" starts now? we right also be responsible for record closes here on "closing bell." welcome to the show. i'm wilfred frost along with sara eisen the rally continues. all four major indices hitting new record highs because of us energy leading the market. exxon up 4%. crude rise forth the sixth straight session value and small cap outperforming. the retail-led mean stocks game stop below $60. but bitcoin booming. all ice on the stimulus bill as the $179 billion plan moves for a. airline stocks jumping as they could receive billions more in aid. the dow up half of 1%. sara b 59 minutes left in the session. >> coming up on today's show, tesla and bitcoin both on the rise as elon musk's company buys $1.5 billion worth of the cryp

more but it will come i'm pretty sure gold prices will continue to rise let's take a look at micro strategy of course headed up by my michael saylor he's done something with us treasury over there he started buying billions of dollars of the . because i mean loading up on this big coing also taking advantage of the near 0 percent debt that they are able to avail themselves of to kenya like and what they're doing over there to a speculative attack on the currency itself as a collapse and again going back to why my republic there is actually a lot of bankers who take took advantage of the low low rates that were on offer and a similar strike out of attack that they profited from magnificently to become very very rich another telltale sign of a why our like republic situation here's here's a guy michael saylor at a multi-billion dollar corporation who is who says to the money printers basically i've got a unit strap you're going to lend me a 0 and i'm going to attack their currency by buying because i'm. it is done it wouldn't this be the game plan for a lot of corporations that want to escape

s like michael saylor over micro strategy he's put billions of dollars into bitcoin and he's openly calling to essentially crash the system that's corrupt and by buying bitcoin because bitcoin unlike gold unlike the bond market seems to be immune from these types of manipulations by the central banks the 1000000000 banks and the wall street banks if to coin a word to get to that $4.00 to $8.00 trillion dollar market valuation that's currently in about a $600000000000.00 market valuation would that be the pin that pops this bubble and then we'd see some some great price discovery in gold this is the point i try to make to people like peter schiff is a big coin basher i'm shy try to sound that because it should be his friend because it could pop the bond bubble and open the open that way for an actual price discovery in gold as i said i'm not an expert on because so i. don't let them direct me because they moved if totally different me and i don't know i doubt. because i will pull gold gold but if it goes to those values bitcoin then i think central banks will be in long before that to start

company's cash out payment system bought or sold bitcoin last year the enterprise software company micro strategylso announced on wednesday that it has purchased more than $1000000000.00 and bitcoin says it confirmed its 1st purchase back in august c.e.o. michael saylor says he believes bitcoin will one day have a market value of 100 trillion. the federal aviation administration has confirmed it's now ordering an inspection of the engine at the center of an ongoing investigation into the boeing triple 7 at the agency noted that the engine developed by pratt and whitney was used on $128.00 older versions of the plane i counting for less than 10 percent of those delivered to customers in the u.s. south korea and japan that model has prompted at least 3 m. urgency landings in recent years with the latest over colorado being blamed on metal fatigue after the engine caught fire minutes after takeoff. time now for a quick break but when we come back in the face of a global shortage of semiconductors the by administration is launching a review of supply chain so what will that mean for the ongoing trade

is the 2nd largest publicly traded company that owns major stakes of bitcoin the other being a micro strategy in analytics company based in virginia that owns $3000000000.00 worth of bitcoins so now tesla one and a half 1000000000 it certainly all goes to this idea that. they're eccentric owner and founder of tesla is certainly says that he's been. an advocate of bitcoin for a long time and now his company tesla seems to be really investing a lot in at the big question is will this be a sign of other companies now also investing in currencies such as bitcoin that's still an open question tell us more a little bit about him on my ask and what he's been saying about cryptocurrency is because he's been tweeting about the digital currency in the recent past. yeah a lot muskrat a long time was sort of this eccentric character which he still is but maybe not taken so seriously on wall street and other areas well that's all changed now because he is as of recently the world's richest person and tesla doing very well of course and he uses his twitter account with more than 45000000 followers. to prom

like for example we already can do it through riot for example which is the block chain company micro strategy another block chain company pay pal which is using it so those already ways around it i don't know if they're going to be able to control let's say an e.t.f. that my come out there's already one g b g c but it's an over the counter well michelle but i do want to turn to markets here 3 major indices in the united states all hitting new record highs the senate and house they voted to move forward through reconciliation and essentially this allows right the democrats to expedite this relief package without the republican vote is this why markets are so optimistic because of the stimulus. i think that's one reason is because of the stimulus i think there's also been a couple of other ringback economic statistics that came out more in the manufacturing industrial side that has also shown that there is some growth and we can see even in terms of just the manufacturing in the united states in the earnings we have 80 percent i think of the s. and p. stocks already report and a lot of them wel

micro strategy up 20%.itcoin, all-time high te tesla off because of the bitcoin news it will be a discussion we continue to have he didn't deny talking to elon musk. >> he certainly didn't it wasn't a no or a yes. we have got to go. >> thanks for watching "power lunch," "closing bell" starts now? we right also be responsible for record closes here on "closing bell." welcome to the show. i'm wilfred frost along with sara eisen the rally continues. all four major indices hitting new record highs because of us energy leading the market. exxon up 4%. crude rise forth the sixth straight session value and small cap outperforming. the

there's also square micro strategy do you think elon musk's move encourages more corporations to hold bitcoin or allow them in transactions >> a lot of people pay attention to what he says. 80% is leaning into the future which is a smart thing to do he as sooisn't the first, he's t the loudest. he's always on the cutting edge of things. what's the difference if they hold it in that amount it's not an enormous amount of money and of people are doing that it will send the value up and then more people will look at it and buy it and that's how these things work, right i think it will be interesting if a lot more people hold it as a unit of value. we'll see. we'll see. i don't know if you feel like playing in the market with an incredibly inflated piece of inflated instrument, go for it. not for me but for many people traps. >> kara, is that it tequila behind you on the table? >> yes, it's a lot of tequila. we are into the covid variant part of the pandemic yes, i like a good tequila >> i know. it's definitely stealing the shot good to see you as always. >> it's past 11:00, right? >> some

now, you could buy a micro strategy, a square or an nvidia. >> that was the old heyday this is the new right >> right no i remember it was sorts of the bust and that sort of went away as sort of an individual line item, kind of, but i think there's other ways to play it. i wouldn't play bitcoin through nvidia to dan's.it's up a little more now, not -- 2%, that's a high barr you've got to have a quarter like this, you know, which was outstanding, just the magnitude of the revenue beat is so impressive that's a high bar. >> yeah. >> that makes me -- hundreds of points ig i wouldn't have bought it it's a tremendous job but it's a little scary they're on the high wire >> coming up, late breaking news on moderna vaccine katzi wood is roltyay. the details and much more "fast money" after this break. and in an emergency, they need a network that puts them first. that connects them to technology, to each other, and to other agencies. that's why at&t built firstnet with and for first responders the emergency response network authorized by congress. firstnet. because putting them first is our jo

i think that contingent with micro strategy and others, almost becomes a ufc battle from a bitcoin perspective. on one side, you have the believers and there are many out there. and we think you'll see more and more from a company perspective, transactions as well as investment over the coming years. but then the other side as we've heard from yellen and others, there's a lot of skeptics and it will create inefficiency it will add to the bear story on tesla and i think a lot of bears will come out of hibernation mode even though they've been there for about a year >> i'll ask you quickly and then i have to go the e.v. market, you're not an auto analyst but other players are there. why is tesla still the one to beat in this space >> first move advantage. tesla's world, everyone else paying rent. from an e.v. perspective but then that's why but tesla is leading the charge and we've seen that from a brand and delivery perspective >> dan ives, thank you for joining us here today. >> thank you. >>> still ahead, crocs lower today after earnings report but the stock is still thesitting nr all-time hi

add to that a micro strategy borrowing $900 million to buy more about it coin. at around a trillion. looks like it could continue to grow. charles: yeah. brilliant strategy, michael saylor. maybe robinhood would have bought bitcoin early on. maybe they would be able to facilitate all trades. but i digress. crude oil was supposed to be a huge loser under president biden. now it is crushing it. it is cruising on a monster breakout. the same question, do you chase a move that is already pretty big knowing it is well off multiyear highs? can it go much higher from here? >> the winter storms was a bit after sea ching in terms of philosophy, wind turbine, some alternative energy didn't really help people get through the storm. where will you turn? oil and gas, of course that has some issues down in texas. nonetheless we're a oil and gas economy. that is what we're most reliant on, in terms of the consumption, apart from the storm. in fact the demand coming back, the possibility of us flying in the air again, i think oil could go higher. like with everything else, i alw

right before the open this morning, micro strategy announced they purchased another billion dollars worthf bitcoin. talk about putting your money where your mouth is. the naysayers are working on new ways to pour cold water on this story. joining me, blockfi, lori marquez. talk about the big spike. the last over the weekend. then a serious pullback. i tried to bring on a lot of bitcoin experts. the lovers tell me, this is the characteristic, if you have to invest in it you have to become accustomed or used to the wild gyrations. why the occasional 10, 20% pullbacks? >> yeah. i think it is really interesting to look at the volatility of the asset class. it is really important to remember that crypto is traded worldwide. it is just thinks that happen in the u.s. that affected price. what i heard from the trading desk. we saw the yield curve kick up. when that happens, people tend to sell out of tech stocks. that could have caused a small dip we saw earlier this week. what i think is interesting about bitcoin maybe people forget when they i think about it just as a tech stock, is exactly wha

this is a new one, micro strategy, a business intelligence company, announced today it bought another one billion worth bringing its holdings to nearly four and a half billion. tesla's in for one and a half billion. and then you've got lohli, zappos, etsy a all either accepting or giving rewards in bitcoin and other crypto. speaking of which, other crypto, doge coin jumping 25% today the after tesla's elon musk tweeted this meme showing the doge dog -- [laughter] planting the doge flag on the moon with the caption, quote, literally. with crypto and stocks rising simultaneously but big tech lagging, let's take you to our floor traders. teddy wise legger. >> -- teddy weisberg. >> we've seen it for weeks, but it's the energy sector, it's the financials, it's the deep cyclicals, and, you know, it's sort of out of tech. i mean, tech is not finished, but certainly out of favor a little bit. tech was the market leaders for the last couple of yearsment you know, we have a new administration, new policy, things have changed economically and in the white house, and the focus is different. and m

think musk is a real leader here and i think, i don't want to throw shade on michael sailor at micro strategyis space, charles, but the fact that elon has taken tesla through this evolution has literally put bitcoin in public pensions and people's retirements. charles: sure. >> most people hold tesla stock. and they now have exposure to bitcoin. charles: listen, michael sailor is a pioneer in this. he blaze ad trail. elon musk is a much bigger name. you have been there from the very beginning. before i let you go, i do want to know what is the next level? we've had a breakout. we broke over 40. we pulled back. we tested 30 support. looking at it like i look at a stock. major breakout now, where is the next level taking us? that is what people want to know? >> charles, before i answer this, do you own bitcoin? charles: i didn't hear you? >> i said before i answer this, do you own bitcoin? charles: no. i don't, jason. i tried to buy it. spent 30 minutes on a coinbase app, opening account at coinbase with no luck at 17,000. i have to wrap the session. i can't do it until you get the next leg up.

publicly traded company to take some portion of their treasury and put it in bitcoin we know micro strategy has done it we know squares is doing it. we are getting so many corporates, corporate treasuries reaching out to anchorage because we can provide them the brokerage, buy and sell, ability to enter, and safe custody regulated as a bank. so we are seeing this. they are not the first ones. if anything i would say to the viewers that you have only seen the beginning of it. you have only seen a couple companies, dozens of companies, publicly traded companies take this on their balance sheets and the goal is not to use it for currency the goal is to use it for capital preservation >> final question then what do you worry about? i know this is your business and, clearly, you want it to succeed. i want to pleaknow, what is the biggest risk in your mind right now to the entyreko system we're talking about, the value of bitcoin? >> the worst risk for the value of bitcoin right now is obviously any kind of regulatory approach that does not consider the value of bitcoin and the innovation that is

gold is currently 10 times bigger than bitcoin right now, 10 trillion versus 1 trillion micro strategy bigger. stuart: wait a second, so micro strategist, didn't put a trillion dollars into bitcoin? susan: a billion, pardon me a billion which is still significant, thank you for correcting me. one of the first companies along with tesla to use their cash pile to buy into bitcoin i will take away that zero. stuart: gold right now, hardly an inflation had, $1800 an ounce and going nowhere. a couple big names that i know, palantir, what's this about insider selling their? susan: you know that palantir went public through direct listing and filings show one of the cofounders into coming officers jointly sold off over 2.7 million shares overnight, but the good news were palantir is that they have expanded the relationship with 3m to build their supply chain. most palantir customers and clients are global, government agencies of the fact getting more into corporate agencies is a good sign and also he would as i mentioned whatever she buys into, she is a list these days and she bought into pal

traded companies phones more bitcoin than anyone else other than one other company and that's micro strategy and analytics company in the u.s. it owns $3000000000.00 worth of bitcoin better than that it's tesla at $1500000000.00 so they amount of money that was put in on big coin really took a lot of people by surprise and really raised a lot of eyebrows but then also tesla really doubling down on it and saying that they are considering and will potentially in the weeks or months ahead perhaps except bitcoin as payment for tesla products so tesla really going all in on this and that's caused bitcoins price to jump $1.00 point up nearly 16 percent it's now at about 12 percent as you mentioned $44000.00 per unit you can all traces back to of course tesla is very eccentric founder and c.e.o. if you will musk the world's richest man he's been very much behind this push by tesla to really go all in yeah and he has been tweeting lately that is his tweets have been reflected on how some stocks perform it. yeah i mean. uses his twitter account and his twitter following more than 45000000 people that

this is going to be something that we're going to continue to contend with you're seeing micro strategy for tesla in terms of what could be the valuation over the coming weeks and months >> dan, we'll leave it there for now. thanks for phoning in at short notice. >>> coming up, much more on this story about elon mussing, bitcoin, tesla plus, dr. scott gottleib on the day's top headlines. we're back in a few minutes. >>> we've been talking about south africa who is going to stop using the astrazeneca vaccine after a trial showed it wasn't effective in protecting against a variant of the south african virus. we welcome in scott gottleib good to see you this morning why don't we start with this news out of south africa >> good to see you. >> the idea that they are stopping using the astrazeneca vaccine there. that seems like a pretty big deal when you consider what we've seen from a lot of the other vaccines, even if efficacy is down, it does prevent in a lot of cases hospitalizations or deaths >> yeah. the data from the astrazeneca vaccine is hard to interpret there's a lot of different t

and you had the square news, although compared to micro strategy, that's like he's buying individualr they're called. tech stocks pulled back up not quite, but not buying nearly to the extent that our friend was buying tech stocks extending a recent slump on moneys rotated. joining us is greg bull, managing partner at verify tech financial, and portfolio manager at independent solutions wealth management tech is much sexier, i still want to start with you greg. you are a bank bull, but you note you were a bank bull when it made a lot more sense, and i think you're not quite as excited at this point. i'm talking about in the summer when you were anticipating a reopening trade with the banks, and now we've already seen it. they were so cheap back then, are they still cheap or, you know, do you just keep what you have? >> right well we're not in the crazy valuation days that we were in pre-election, low, and that's right, you remember me talking about this over the summer that the election would focus people on 2021 earnings, and we saw that trade right, the indexes are up 50% since nov

lisa: how much do you go into the cyclical story and how much do you buy into the micro cap strategy? certain shares have increased 1000% this year, companies in these tiny indexes surpassing s&p 500 companies. at what point you say, this has gone too far? brent: i would like to avoid those. when i compare these two 1999, it reminds me of that. i think people are going to focus a lot on the next year on value versus price. i think the value side of the equation is still cheap, but we still like small caps, they have gone far in the last few weeks. they are probably due for a breather. it is usually the precursor to a trend, not the end of a trend. we still like the small caps. lisa: what about the interest rate sensitive areas of stocks? the nasdaq, big tech companies? they have been punished as real yields increase. brent: i would take it back to 1999-2000, i am not suggesting these are bad places to be long-term, those were accelerated by covid. some of the stocks have discounted what the future will be. i would like to take it back to focusing more on value, cyclicality, and deemph

is started as a chris endo event that was added to by the likes of paypal indirectly and now micro strategyly think this is what happened when a fringe investment goes mainstream which usually happens with mainstream companies betting on that that seems what is going on it might be short-lived and the same power to it and those who go for the roller coaster ride known as bitcoin probably with all of the already, jack mcintyre is back with us, susan li, susan i do think i use the term street cried when a lot of the established companies given onto bitcoin and maybe we should. >> buy, sell is always a plus, makes it easier to use and makes it easier to access that's what you're seeing with bitcoin and morgan stanley is $150 billion and might be spending some of that cash and violence along paypal with hundreds of millions of accounts on square and robinhood and bank of new york mellon will allow its accounts to exchange bitcoin's, that is the key to make it mainstream and that's why you look at bitcoin at the $50000 level. neil: what is interesting about this and you guys are far worse due to

in the case of micro strategy, that is a very extreme approach allocating to bitcoin but the multiplend that leadership has benefitted from that move. same thing that we saw with square tesla, their reaction was maybe not quite the same but as we see more and more examples of different firms allocating their treasury assets to bitcoin, their real question for me is, what does that mean does that have an impact on multiples that investors and allocators assign to businesses? and if there is a positive effect there, i would expect that that strategy would be replicated across the entire s&p 500. >> what happens if the price goes down? i mean we saw it climb to record highs back in 2017 and then it crashed. so what happens to all of this discussion, and the adoption, and all of the things that you are trying to encourage, and really believe in, if we see that kind of volatility again? >> that's such a great question and one that we deal with a lot. i've been in this business for six years. bitcoin share, 4 billion in assets under management. and the cyclical nature of bitcoin has been pa

mic michael saylor who runs micro strategy and has famously gotten into bitcoin with his corporate haswo day, online seminar for cfos and ceos and literally so many people trying to get on it today you know, the internet broke a few times. he's had over 1500 ceos and cfos, you know, dialed in all day learning about how he bought bitcoin, why, you know, i'm speaking on his thing tomorrow at 4:00. so he's got service providers and there is an unbelievable appetite right now for corporates, institutions, big banks to learn about this system i literally spent all my day on phone or on zooms educating new investor groups. i think we are really early still in this shift in crypto. >> on a related note but back to the reddit drama the sec is going to look into this. we know that whether anybody had ties to the company or there were big institutions egging these retail traders on or posting on social media. are you looking at that as a bitcoin investor for a precursor on what could come do you expect a more tough regulatory regime from the biden administration on bitcoin? >> i don't gary gentz

literally this point we saw micro strategy which has become a darling poster child as a crypto worldotin signals what we have seen for the past few weeks which is when we see these drawdowns, these publicly traded companies commended by the dip, they are actually buying the depth so quaint base we reported which is said to tap into the public market at a potentially hundred billion-dollar valuation has at least five or so fortune 500 companies that it's working with according to my sources. tesla obviously made headlines earlier this month, that was one of the major companies which is in the s&p 500 that allocated a percentage of its money to bitcoin. is becoming a growing trend. stuart: that's very important. if there are five more major companies thinking of adding bitcoin to their balance sheets at a big deal and would tend to support bitcoin. thank you for joining us. we appreciate it and i want you back again because i would like you to break some news for it. bitcoin is now at $49000 even up to .9% on the day. still with bitcoin, i can't believe this, a new campaign on twitter

think that's going to be for the company as well as the boards to decide but i think we've seen micro strategysts put in for more companies to go down this route but i think it is a ripple effect in terms of what musk and tesla have done but i think a bigger story is what we're seeing on block chain, semis and payments, and creating a whole new ecosystem with musk and tesla taking a bit mainstream what we're seeing. >> what about the model y? what can you tell me did you see this headline today, that we're seeing that it's no longer listed on the company's sales web page, the price was slashed last week, unknown where the model y standard is, why it's not listed there, do you have any knowledge what is happening there, dan >> look, you will continue to see some price cuts, especially in china, but if we look overall, to model 3 and model y, this is on track to do 800,000 vehicles this year, and a million going into 2022, and the haters will continue to hate on tesla, but if we look at evs, the golden age that we're going into, and in our opinion, there is a $5 trillion market, over the next de