i want to bring in the ceo of microstrategy. just reported results, beat on earnings and revenue. you are sitting on massive paper against barak and accounting charges for the bitcoin you are holding. walk us through that strategy. >> we are leveraged long bitcoin. we have a 10 year view and our view is bitcoin is an open digital property network and one-day billions of people are going to hold digital property on their mobile phone and so we want to get there before the millions of users get there and we are patient. emily: bitcoin is at its highest level ends may -- since may. why should investors invest in microstrategy rather than bitcoin itself? >> we are an operating chatterjee so we sweep operating it, into bitcoin and we are leveraged long. we borrow at a blended interest rate. so if you like bitcoin, you definitely would like the idea of owning $2.2 billion of it at 1.5% interest if you expected to go up, that leverage is really working for you so i think we have been intelligent about the way we put together leverage a

analysts say the disclosures we get, particularly from tesla, microstrategy, and square could raise a there are those who would allow companies to simultaneously book gains if they sold into the big rally we saw before that dip in june and microstrategy is the one in focus for some possibly big losses. back to you. shery: su keenan with the latest on crypto. that is it for "daybreak australia." daybreak asia is next. we are in the thick of earnings season. watching to see how these chinese education firms react as we count down to the start of trading in mainland china and in hong kong after news of the government crackdown. this is bloomberg. ♪ [ "me and you" by barry louis polisar ] ♪ me and you just singing on the train ♪ ♪ me and you listening to the rain ♪ ♪ me and you we are the same ♪ ♪ me and you have all the fame we need ♪ ♪ indeed, you and me are we ♪ ♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ and there you have it - wireless on the fastest, most reliable network. wow! big deal! we get unlimited for just $30 bucks. i get that too and mine h

names like microstrategy, coinbase, paypal, visa would be in there, a little bit more traditional. bit farms is in there. as an example. and so we're sourcing -- heo we recognize the macropull and the growth in cryptocurrency specifically bitcoin and sourcing stacks in that sleeve, if you will, so we can take advantage of a long-term for our clients. >> that's interesting. good to talk to you anthony. thanks for coming on. >> good to be here thanks. >> that's anthony scaramucci sky bridge check out the mystery chart. a firm named in a top pick we tell you what it is whether ushtd add to it. we'll do that in the call of the day xtne only 6% of us retail businesses have a black owner. that needs to change. so, i did something. i created a black business accelerator at amazon. and now we have a program that's dedicated to making tomorrow a better day for black businesses. ♪ ♪ i am tiffany. and this is just the beginning. ♪ ♪ delicia: this is where all our recycling is sorted -- 1.2 million pounds every day, helping to make san francisco the greenest big city in america. but that's not

>> that was what microstrategies ceo michael sailor said about bitcoin on this program last month.to hear what he's saying now about his crypto strategy on the next hour on squawk you "squawk on the street. reported earnings after the bell last night, you're actually seeing growth in that core company, but of course crypto, specifically bitcoin, the fact that the company owns more than 105,000 bitcoin now, has turned to the debt market to finance some of those purchases. such a key focus and key reason for the volatile movements we see in the stock in general. >> speaking of volatility in bitcoin, up 11% for the month is going to be the best first positive month in about four months and the best week since february, right? remember when we were in the high 28s and people wondered about whether or not some of these chart patterns could last, some of the bulls definitely proved some of the skeptics wrong, at least on that. >> certainly what we've heard from a number of guests this week, is you are starting to see more institutional flows back into bitcoin and some of these other cryp

this week microstrategy reports july 29. revelation will be in focus. back to you. haidi: su keenan there with the latest. we will be speaking to one of china's earliest bitcoin moguls about beijing's latest crypto crackdown. we will ask whether he thinks that the beijing government could really put an outright ban on crypto. we will be sure to tune in to bloomberg radio to get in-depth analysis from the daybreak team there. we broadcast live from our studio in hong kong. you can listen via the app, radio plus core -- or from bloombergradio.com. lots more ahead. this is bloomberg. ♪ shery: we are watching coffee closely. we are seeing downside pressure in the last session, but only after we saw 17% gains in last week. not surprising given we have seen this worst frost in brazil's top coffee producing region into decades or so. extreme climate also an issue in china or we have seen floods in the profit -- in the province of heinan. life -- live hogs are holding at the $92 level. we are seeing pressure on corn. scorching he is

now we go to strategic's head of microstrategy.ake an immense distinction on this day of apple, alphabet microsoft earnings of the odd weighting of the dow, the odd weighting of all these better weighting standard & poor's 500. explain what our listeners and viewers should do. >> i think it's an important distinction. this difference between equally weighted s&p versus the cap weighted s&p. the five largest stocks in the s&p are roughly 30% of the entire weight of the index. when you look at the average issue, it has not made a new high since may 10. it's not terrible, it's not fatal. but under the surface this has been a much more frustrating market over the last two or three months than just looking at the index would lead you to believe. tom: we look at the technical analysis of the moment and on radio what is so important is that at least -- got the bay shoot memo. jonathan: did not? -- did i? will talk about that a little bit later. i will send you an email about this. $10.10, so look, the outlook for so many of these companie

microstrategy getting a nice lift as well, and coinbase up about 6% at this point.been talking about economic views, as one says tomato and the other says tomato . seema shah joins us with principal global investors. do you care about the nuance of economists right now and how yield expects out? jonathan: i think we have a technical problem with seema shah. we've got to reestablish that. i'm with you on this call. i could summarize it as follows from goldman. here's a quote from the team over at goldman. in the near term, a complete service sector recovery will likely were higher fully overcoming virus fears and returning to office work. those now appear likely to take longer than we had dissipated. but goldman put -- longer than we anticipated. but goldman put some numbers on it. a return to trend in the back half of 2022. it is the sharper deceleration that it now expects. the conversation i think we need to have on this program with market participants, is that fuel for a move in this market we have yet to see, or does it reinforce a narrative? tom: in bond yield

leverage, head of microstrategy for state street -- head of multi-asset strategy for state street. i think a lot of people wonder what things will look like and what the supply-side response develops into. no clue whatsoever. lisa: specifically with your point about new york city rent, the idea that they were lower than they were pre-pandemic, was the great mike gratian to the suburbs going to reverse? are we going to see -- the great migration to the suburbs going to reverse? these are all good questions we don't know the answers. how much is sticky post-pandemic? jonathan: do we get the employment population ratio back to where the fed chair would like it to be? how quickly does that happen? how tight is this labor market? no idea. terry haines, pangaea policy founder, will weigh in. hopefully he's got a clue to the questions we ask. down 30 on the s&p, negative zero point 7%. yields are lower by three basis points, 1.238 9%. be aware the person that has conviction and confidence about the future. that was philosophical, wasn't it? tom is back on monday. we can get silly again ne

microstrategy up 1% building on a massive gain on the heals of elon musk and spacex owning some cryptoxury vehicle maker take a look at that vehicle sitting outside our studio as we speak. a quick check on the markets right now. squ squawk returns in a moment designed to work better together. save, spend, borrow, invest, and earn cash back rewards, all in one app. that's how you get your money right with sofi. ♪ ♪ ♪ cisco. the bridge to possible. here are the two battling to the line and allyson felix... simone manuel's above her trying to fight on, and above simone... getting an opportunity to show her stuff. nonstop, displayed at the highest performance level... finding something and the us takes gold! ♪ dream on ♪ ♪ dream on ♪ ♪ dream on ♪ ♪ dream on ♪ - yes! ♪ ahhhhhhh ♪ ♪ dream until your dreams come true ♪ . >>> welcome back beating estimates with the latest quarterly results distributable shares came in at 82 cents profits soared after value of investments. that stock now up about .08. jon gray will join us next hour. >>> luxury ev maker faraday future the ff 90, is it a prototy