coming up, microstrategy's bitcoin bet is paying off in a big way.eak to the company's executive chairman and cofounder, next. ♪ how am i going to find a doctor when i'm hallucinating? what about zocdoc? so many options. yeah, and dr. xichun even takes your sketchy insurance. xi-chun, xi-chun, xi-chun! you've got more options than you know. book now. katie: let's talk crypto, because the price of bitcoin has tripled since the start of 2023. that is music to the ears of microstrategy executive chairman michael saylor. in 2020 he invested his company's cash in bitcoin. that is now worth over $10 billion thanks to crypto's recent rally. joining me now is the my own -- is the man behind that bet, michael saylor. we are going to get to the $10 million bet, but let's get to your earnings call. he said microstrategy is a bitcoin development company. help me understand what that means. michael: you know, the great majority of our enterprise value now is based upon bitcoin. what makes us unique is we are an operating company, not an investment trust. we are t

the gains are due to a big investment in the cryptocurrency from software firm microstrategy.proval of bitcoin—owning exchange traded funds — also known as etfs — in the united states. and that's it for this edition of asia business report. bye for now. different stories from across the uk. kimmy has completely transformed my life, if i'm honest. like, ifeel like a different person now. i'm less anxious, i'm less feel, less isolated, i'm less anxious, i feel less isolated, less vulnerable. these two have become inseparable over the past year. wherever you find suze, kimmy is sure to be there, providing practical and emotional support. no better is that demonstrated than at home. suze has had cochlear implants for more than two years, but she needs time without them. when you're deaf, like, it can be quite overstimulating, sort of like sensory overload. i think people don't understand that. it's really hard and it's exhausting. actually, i like that time, like, in my bubble, which i can do now. it means that she can actually relax, as kimmy is there to alert her to the door bel

i have an opinion on the ultimate big coin microstrategy. >> microstrategy is a good way to play it.ay your kids and grand kids, in the end you want bit coin. you probably want etheriom. that's how you want to play it. now that this postcovid overhang is over, i think this thing can keep winning until the future. the clouds start sinking in the war room. i'm getting all the important updates with both the outgoing and the incoming ceos. all that we've been hearing about the, and we have lightning round so stay with kramer. so stay with cramer. even if you live in a bubble, you can't stop workplace accidents. so talk to your agent about workers's comp insurance from pie, or visit pieinsurance.com. safety first, then pie insurance. so this is pickleball? it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college,

someone that knows everything about it, microstrategies, president, michael saylor.d to a podcast, you do a lot of them which is great because you're reaching out to people, real folks out there but something you said stuck out to me, i want you to listen to it but i want the audience to hear it as well. let's play it. >> robert asked me on his show what is money? i had never questioned what is money and then we explored it together for many, many hours and when i finished that exploration my conclusion was, money is economic energy. charles: economic energy. what does that mean? >> yeah. it is the question of our time, charles and it is a question i went most of my adult life without understanding. economic energy is capital. economic energy is wealth. so if you think about the wealth in the world maybe $900 trillion of it right now and it is tied up in real estate and stocks and bonds and currencies, collectibles et cetera. the challenge is, that capital is analog capital from the 20th century and bitcoin represents the digital transformation of capital and your ch

and crypto proxies like coinbase, microstrategy and the grayscale bitcoin etf are coming along for the. how much higher can this trade go? tim, you're thinking, hopefully higher, with coinbase. >> i think it can go higher, and again, the -- coinbase is my proxy. everybody's got different proxies. people have overthought the dynamic around the bitcoin etf and the fallout, because if anything, all it does is signify there's a greater addressable market. there's greater follow-through. it's interesting, because yields are kind of moving higher, if anything, you know, we've got some fed speak this week, we have a pce on thursday, inflation's sticky, and less fed, less dynamics have been great for bitcoin. the institutional adoption has made it kind of an all-clear. there's obviously plenty of deliberation of where you want to be. >> go ahead, dan. >> i'd love to hear -- >> you've mentioned their balance sheet, steve talked about this. robinhood is breaking out. what -- >> longer the base -- >> everybody at once. >> keep getting more revenue from the grip poe -- >> the balance sheet is very

, marathon, all those. >> just -- well, overlay bitcoin, you see microstrategies.bin hood. they're going to be profitable this year, i think. the last couple of quarters have been good. they have cash on the balance sheet at 11 and change. this is one you might want to take a shot at. i think the -- they report on the 13th. >> are you an ether? >> i am. gray scale ether was my biggest position last year. it's somewhere down the food chain now because it's tripled basically. that's going to -- that will be the next one that becomes an eft. hopefully you start to see that rise. it will happen in june. >> didn't mention it -- >> no. >> had to put up the graphic wage to remind the acronym -- >> i forgot -- >> sometimes you have to advocate for yourself on the show. >> that's a good lesson for us. >>> coming up, sport betting stocks in the red -- we're getting a boost ahead of sunday's big game. and when the las vegas setting this year, there's even more focus on the gambling games. more on that ahead. >>> finrst, julie is digging ino the housing trade. why one stock is

not just exchanges but also microstrategy, marathon digital, riot all moving higher.nbase up over 20% in the last two days. is there an exact reason why today we are seeing bitcoin up over 5%? i'm not exact wisher. i don't know if anyone can really describe a reason to the optimism. katie: i'm going to say it is fomo. we have gotten through coinbase and zoom. tell me about lowe's. this was lower premarket but definitely rebounding now. joanne: it was lower and now up about 3% in the regular session. the earnings-per-share were better-than-expected. perhaps that is what investors are focused on. overall, it did paint a bleak picture for lowe's. the company said sales will fall further this year as consumers are holding off on home improvement projects amid higher mortgage rates. they are likely not going to pay for a bathroom renovation. this is a similar story for home depot which reported last week that sales are going to fall. perhaps investors are brushing off concerns in the normal course of business for a company like lowe's that is so tied to the macroenvironmen

etf flows story is part of the focus, as is buying from microstrategy, holding 56,000 up 2.7 percent. let's cross over to asia and check-in in on how the markets in that part of the markets are faring. avril hong in singapore, how are the market shaping up today? avril: we are seeing it flat, they are moving sideways, i think traders are more cautious. we have gotten that japanese inflation print, don't forget we have data out of the u.s. and china to get through later in the week, we are seeing losses in taiwan and south korea, and in hong kong, csi 300 interestingly blocking the trend, staging afternoon session rebound, that's despite the lack of any real catalyst here. you know this, tom, the state funds have been increasingly seen as important to help to stem the recent stock market. we did get separate ubs estimates showing us 57 billion u.s. dollars were plowed into onshore market since the start of the year. also blocking the trend is the hang seng tech lifted by the electric vehicle makers in the country after leah and showed its able to withstand a price for and the intense c

. >>> shares of microstrategy popping. you see the chart right there.it acquired 3,000 additional bitcoin for a total of $155 billion. it now holds $11 billion worth of crypto. >>> unitedhealth set to extend yesterday's losses. this follows a report that the department of justice is expanding its investigation. >>> ebay moving higher after topping revenue and guidance expectations. it's hiking its dividends by 2 cents and buying back stock. >>> bumble under some pressure. the dating app is laying off 30% of its work force as it takes significant and decisive action in interpret terms of accelerating its product. >>> and also urban outfitter, the retailer sees positive growth sales ahead. >>> we look at the striking distance of a new all-time high. right now futures under pressure across the board, the nasdaq off of it lowserle letter today. looks like the dow would open 1 15 points lower. >>> good morning. it's always good to see you. >> good morning, frank. >> we just looked at the futures right now. give us a sense. what's your w.e.x. word of the day.

caroline: of course that was microstrategy chairman michael saylor there.urse, pretty long bitcoin. his comments come off of bitcoin's recent rally. its price tripling since the start of 2023. now bitcoin might even re-test a record high. consider this. the rally includes four straight weeks of increases through february 18. in the past five years the cryptocurrency has climbed on average almost 50% over three months after following a four-week winning run. that would take bitcoin to $70,000 or thereabouts. let's move away from price points to get a read on where people are putting money to work in vc and flowing into the wider crypto space. hack vc has managed to raise $150 million dedicated to the digital asset industry. alex pack, cofounder of hack vc. this is not your first time raising money. this is a follow on. what part of the ecosystem, what size of companies, what problems do you want to see fixed here? alex: yeah, thank you for having me on. it was a bit of a challenging fundraising environment now versus prior years, of course. but for us, we ar

we know microstrategy are up 3.3%. on the downside, marathon.y about accounting practices and whether they are showing uplift to overall earnings because they are able to show the current increase and value of the underlying holdings of bitcoin. it is up 15%. some analysts felt the numbers did not hit their mark. member, the stocks have not run-up in recent months. totally in sympathy with the other minor, marathon. at the moment, there is a supply/demand dynamic that seems to be working in bitcoin's favor. ed: we have vance spencer, cofounder of the web three focused venture firm framework ventures, 1.4 billion dollars in assets under management. caroline set this out really nicely. we have moved beyond bitcoin to a broader positivity in digital assets, and the supply/demand equation. give me a health check of how you feel general sentiment is toward cryptocurrency. vance: extreme a positive, to say the least. they are on pace to buy about a million bitcoin per year. i have it up on my screen. there is about one point 9 million bitcoin total on

microstrategy as well, we will get an increase -- insight into crypto. 3% ahead of earnings as well. this is "bloomberg technology." caroline: let's just talk about technology's impact on the broader market. citi out with an interesting note morning about positioning in tech stocks. right now saying it is so bullish that any selloff could trigger a wilder -- a wider route. noting that short bets have been completely clear. let's dig into what is a concern for the broader market. laffer tengler investments ceo nancy tengler, we love having on because your detail about leaders, but also the macro impact of tech. are you worried about any jitters and what that means for the s&p and broader benchmarks? nancy: i don't think i'm a ball. there are plenty of times where you want to hedge your portfolios or get out, but i don't think this is one of them. i think use weakness in some of these names that there is a selloff. we will get a correction, and that will be healthy for the market. i think then you want to add to names you don't own or don't think you own enough of. you heard, you just

forget the etf trading record volumes, look at microstrategy's or a marathon or riots. the u.s.arket has volumes in crypto. you are seeing on the exchanges and the crypto exchange is. plenty of liquidity meaning that lots of people are getting leverage. they think the market is too leverage. it happens after huge runs. you have leverage at the max and there will be a washout, i do not know when it is. it will be -- you know, i hate to call things healthy washouts because it never feels healthy when you lose money and when there is a washout the price will go down. but there will be a washout. people cannot sustain this much leverage. remember, a lot of the offshore trading platforms can give you 50 to 70 and leverage and a lot of millenials and gen z will yolo it. sonali: how do you describe the difference between the leverage in the system versus 2021 that caused a lot of levered players to go bankrupt? mike: i think the institutional players have less leverage. you know, very few people are buying an etf with leverage. and the broker-dealer community or -- they learned a lot o

and microstrategy number two.russell 2,000, sure, it's broad and economically sensitive, a lot of financials. it's also some of the craziest momentum stocks in the world. this is going back to 2021 when game stop and amc were moving the russell 2,000 every day. so it's not the whole story. they're only together 2% of the russell 2,000, super micro, but you have to be aware that you're not just seeing the salt of the earth old economy stocks move when the russell -- [ overlapping speakers ] >> super micro is massively overgrown. >> a $50 billion market. >> mike santoli with his "midday word." thank you very much. >>> coming up, two big winners and two big losers in today's session. he "halftime" coming back after the break. stay with us. what do you mea? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training opti

we're talking names like microstrategy, which owns bitcoin. north of $11 billion at this point.athon digital is one of those miners out there, up big today and coinbase, up 2.5% to 3% right now. >>> we'll start with fresh data on the economy and fresh comments from the fed speakers as we count down to tomorrow's very important pce inflation report steve liesman has the latest details there. steve? >> yeah. dom, thanks. the fed president expects the inflation to return to 2%, but it will be bumpy along the way he expects slower gdp growth we got a gdp report this morning that was slow for the fourth quarter. still strong for the first quarter here williams says the labor market should be returning to normal over time. it is already showing signs of that he says that the journey to 2% inflation is not over and still has a ways to go i don't know if this is significant or not, but last week he talked to axios and talked about his expectation that the fed -- it would be appropriate to cut rates this year, but he doesn't mention that maybe that's an oversight. we'll see if he repeats

take a look at some of the proxies, coin base, microstrategy, marathon digital, all up double digits today. the moves coming as in flows into the spot bitcoin etfs pick up steam. the funds attracts 1.2 billion in investments last week. this according to fund strat, and seeing prices soar alongside it. so, can this rise continue? and what does this mean for risk appetite in the market, tim? >> there's high correlation there. and it's a little ironic, because in the last week or so, we've digested inflation data, dynamics around the fed that say the fed is higher for longer. it's a case where i think if you have less fed, this is one of the core ten innocent tants beh bitcoin. it's about having a currency or an instrument or a security or -- we're not calling it that yet, that actually is grounded in some kind of -- of, you know, backed, you know, where you can actually not just print money forever. that's the reason i think a lot of people own bitcoin, obviously, there's a speculative fur vor around it. and i think we're going to get through that 64,000 level. i think it is indicative

bitcoin is opportunistic over a risk, it's a way to accelerate shareholder value is, and owning microstrategy stuart: interesting. i presume with bitcoin at $61,000 or 60,100, bitcoin-related stocks, they must be doing well. lauren: oh, this is fomo. everybody wants a slice of the action right now. from the people i speak to, i'm getting three common reasons. a lot of people think the fed cuts interest rates this year with. so these investors are chasing yields. they think they'll get it in bitcoin and ether and the other cryptos, and and they're really looking at this april halving event when you really take out a lot of the supply. it happened the last time, in to 2020, and bitcoin that year rose 305%. that's attractive. the etfs, that's a way to get a lot of fresh money in. on monday and tuesday of this week, 110 million shares changed hands in the if the three biggest spot bitcoin etfs, gray scale, fidelity and blackrock. 100 million. that compares with 200 million shares in the most valuable companies in the world. like apple, microsoft and nvidia. stuart: i liked your whispering deliver

there's been arm, there's been super micro, microstrategy, and there's been a lot of stuff you nevereard of, and i think that shows you -- part of that is just the bull market acting like a bull market, but i think it's an interesting element that it isn't as tightly knitted to the bond yields. >> it's come in the face of rising bond yields and a strengthening dollar. >>> let's turn to nike. some news there, the company the latest to announce job cuts. so, nike is announcing that it is reducing its workforce by 2%, about 1,600 jobs. they have about 80,000 people globally. john donahoe did announce this. i got my hands on the memo. explanation for why he's doing it, i'll just read you part of the internal memo that he sent here. "while interest in sport, health, wellness and comfort has never been stronger, we are in a highly competitive industry where speed and end-to-end execution is critical to win. to compete, we must edit, shift, and divest less critical work to create greater focus and capacity for what matters most." and then another part, he went into where those opportunities

minor marathon digital, and microstrategy, by the way, up 3,000 bit coins bringing it's total holdings$10.5 billion watch those bitcoin etfs. >>> equity markets hitting market highs is confirmation we are in a strong bull market. we want to bring in chief investment strategist at sanctuary wealth. i thought jamie dimon might be opt optimistic but worried about the -- >> but bullish on ai. >> yes. >> i think we agree on ai. it will continue to transform global economies and we are seeing that get priced into the equity markets. on a global scale, this is not just a bull run in the united states. we are seeing some of the european markets hit all-time highs, and japan reach all-time highs since 1989, 1990. that market could move into a whole secular bull market. some are saying this is narrow, and it really is a lot more. we are getting new highs in many different pockets of the market. the barometer you don't hear people talk about is the s&p advance decline line, and that is confirming the breakout in the s&p 500. >> so if you could own anything right now, are you in the magnificent se

first as we head to break check out shares of, key cr crypto cryptocurrencies, coinbase, and microstrategy your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com >>> shares of pinterest sharply lower. earnings 53 cents a share beat estimates. revenue fell short. rose to $498 million beating estimates but average revenue per user $2. 5 cents below estimates. current quarter forecast weaker than expected. stock initially sank as much as 28% in after-hours trading but rebounded after ceo announcing third-party app integration with google during the analyst call stock down 8.4%

stocks like exchange operator coinbase, mining company marathon digital, business software company microstrategye sheet. and joe, melissa, andrew, just to put it in perspective, the total market cap, according to coin market cap of bitcoin, $1.19 trillion right now. meta platforms is worth $1.2 trillion for reference, and jpmorgan chase is worth roughly $570 billion. so, twice as big as jpmorgan chase. >> that kills jamie. that's got to kill him. very good. thank you, dom chu for that. amazing. michael has to come on. i want to have him on. don't you want to have him on, sorkin? >> yeah. >> it was when he was going to get margin calls, he doubled down, and now, all-time high on the stock. down85 now on the dow. take a quick look at the nasdaq, also lower. it is probably the big story, back above 60. it's been a couple years, but there it is. join us tomorrow. thank you. thank you. big special coming up tomorrow night. >> 10:00 p.m. eastern time and pacific. >> "squawk on the street" is next. ♪ >>> good wednesday morning, welcome to "squawk on the street," i'm david faber with jim cramer. we are