ed: that was microstrategy chairman michael saylor.up, we pulled our twitter followers about how they watch the 2023 grammy awards. we will share our results. this is bloomberg. ♪ conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curiosity. we dissect the market from every angle. helping to build portfolios that redefine what's possible. because investing isn't one size fits all. allspring. purposefully divergent. ed: time for going viral. the grammys have been trending on social media, prevent they aware show is still relevant, but that is not necessarily the case during the yvonne. we polled our viewers on how they watched and more than 92% said they did not watch. here with the actual data is lucas. we were expecting a rebound. did we get one? >> we got a slight rebound. the preliminary figures are about 12 million people watch the grammys, that is up from nine or 10 million from last year and up from a low a few years ago of about 9 million,

one company benefitting from the hot start, or rebound, is microstrategy, up over 100% since the startng us now to discuss, microstrategy co-founder and executive chairman michael saylor michael, great to have you back on the show. >> thanks for having me, morgan. >> all right we're also coming off the heels of microstrategy's earnings after the bell yesterday i do want to start there you did report a loss, which was a surprise to the street, but it's tied to the digital asset in paramount losses tied to the way that bitcoin and losses in bitcoin are accounted for. walk me through with paper losses hitting $1.3 billion, does this change your strategy around bitcoin and bitcoin acquisition? >> no. it doesn't change our strategy i mean, the losses are a function of the indefinite intangible accounting treatment and, of course, an auspicious development the industry at fasby has taken a position they will move toward fair value accounting eventually we'll be able to mark our bitcoin assets to market and enthusiastic about that. microstrategy is a way to invest in the digital transformatio

microstrategy is a publicly traded stock. in miami-dade crypto players. i saw scaramucci. bionovo gratz was there as well. the industry is still severely bruised but the balance you talk about give people the power to come say, we are surviving. ed: sonali basak, thank you. i want to stick with the conversation around crypto. arkk investment management's cathie wood spoke to bitcoin earlier about why she is sticking to her strategy. cathine: the confidence was strengthened last year. last year was a terrible year for everyone in crypto. think about what happened. it was this centralized opaque players that went bankrupt. ftx, celsius, three errors capital. -- rose capital. what did we see from bitcoin? bitcoin is completely decentralized and transparent. it started because of 2008, 2009. the lack of transparency in the traditional financial services ecosystem. when we did our research, archewell effort -- art lauford took us through what bitcoin meant to him. wow, art. this is a rules-based monetary -- a rules-based digital monetary system that is global. and, there is no

coinbase has 24% of the float or available shares microstrategy, 34% silvergate, a crypto-related bank, sees 73% of the available shares sold short despite tanking yesterday. that crypto bank still up 20% on the week bitcoin, meanwhile, has seen its own resilience in the face of negative headlines it has the opposite dynamic going on barclays points out a boom in buying, and retail is sitting on the sidelines. there's optimism that the worst could be over on the regulatory front out of d.c. and also bullish activity on the options side of crypto markets. >> broadening this out beyond crypto we have a number of earnings airbnb the top laggard on the nasdaq 100 investors were celebrating it's down 7%, 7.5% these names, too, that have run up i know a lot of the ones you cover like fintech, too, have run up so much i guess the question is, is the bear rally ending or is this, you know, a start of a bull rally, is what people are trying to figure out? how much further is it going to go short selling you mentioned. >> short selling is a part of it another interesting dynamic we call about th

numbers out of microstrategy, once upon a time, a software company that became a bitcoin bet. we seeing the companies suffering from last year but looking forward? sonali: one to think that is -- one thing that is interesting is on the way down so many people lost so much money last year. when you are looking at microstrategy, coinbase, or places linked to the crypto industry you have an instance where people are looking at, ok, have we bottomed? should we get in now as prices of bitcoin start to recover. if you are linked bitcoin it is -- it is an easier way to play the industry through infrastructure then it is to really bent on other tokens and coins if you are an institutional investor. the industry is still severely bruised but the balance you talk about gives people the power to come say, we are surviving. ed: sonali basak, thank you. terrific reporting. i want to stick with the conversation around crypto. arkk investment management's cathie wood spoke to bitcoin -- bloomberg earlier about why she is sticking to her strategy. cathine: the confidence was strengthened last

coinbase has about 24% of the float or essentially available shares out there sold short, microstrategy% silvergate a whopping 73%. despite tanking yesterday, crypto bank is up double digits. they also point to what they call fomo driving this, fear of missing out. they saw more buying on days when the s&p was actually up, indicating that people are chasing momentum versus any sort of dip buying or ban gaj hunting when stocks are down they don't see this group running out of steam any time soon they still have plenty of dry powder marked in money market funds that can still be deployed bitcoin has seen its own resilience, up 12% on the week it's seeing the opposite dy dynamic. barclay's reporting a boost mostly from institutional buyers >>> as more individual investors come into the market and buy up growth stock, should you follow the crowd? let's bring in david speak ka, president of guide stone capital management, ron insana co-ceo of contrast capital partners. david, i think the question we posed in the intro, for you, you say no, equities are too rich given the eps estimates declin

and also adding up on crypto related stocks that have increased some 90% at least marathon and microstrategyo it looks like in this snapshot, that was a profitable move for the soros fund. haidi: some of the biggest themes that were prominent. it seems like chinese stocks have become most tabs again for hedge funds. su: it looked like chinese stones were on investable. you had a huge drop in the chinese index but because of the end of the covid zero policy, they are once again back in vogue, showing up in major portfolios. if we look at the big trends that were taking place before these funds, alibaba's right of the top of the list. gd.com was another one. a stock that was heavily added across the board. code-2 management a tech heavy fund bought 4.8 million funds shares in alibaba. at the largest increase among hedge funds. and also sold off a lot of its holdings. so again, what we are seeing in these funds that are coming through, many of them are filed right after the market, a stake in what they feel about tech and other stocks. back to you. shery: su keenan with the latest on those fili