ned siegel says it doesn't make sense to put crypto on the balance sheet.e not the tone you would expect from jack dorsey's fellow exec have a listen. oh, that's what he said. so, guys, there wasn't much more than that. and so it's hard to see this as a very -- signal square has made a big bet on bitcoin. it's not all that surprising that the cfo of twitter would say they are not holding it on the balance sheet. there is a lack of accounting rules allowing companies to do so very easily, john. >> for square, it's one thing. they have got an audience of consumers that are excited about cryptocurrency, about fintech. about these new ways of exchanging value but twitter, i mean, this is not a company with a particularly long leash all this volatility in crypto itself, carl, probably adds a level of risk that's not great you know, it's gone up, it's gone down. there are people, what, we just had tom lee on yesterday who thinks it's going up to 100,000 by the end of the year if you are twitter, half your time has to be spent when to buy and sell crypto when you

i know you have a long relationship with ned siegel. >> with him quite a bit? from mr. siegel as well. >> let's see if we can't get him. >> and get more on this story. now twitter shares responding positively the stock has not done particular chi well over -- it is hanging in there, jim, but it has not been a star performer. there have been those who say it simply underwell s in terms of what they can do with the platform and the power of the platform. at this point we do know mr. dorsey and square have been nothing but success with that company. >> yes you know it quite well, having exceeded $100 billion market value. >> when you have them on -- does it matter much who we have on? if it did, then the cfo, incredible at square, would be an easy replacement. would ned get it ned spends a huge amount of time basically day to day, i think he would be sensational i will say this, the idea that the stock would be up five if jack leaves is seen as bitter. >> i haven't been picking that up. >> that's the reaction. >> to your point, many people believe believe if he wou

>> the first the negative comments, ned siegel said investing cash and crypto doesn't make sense, then you have regulation. part of the infrastructure package has a provision that requires brokers to report crypto transactions over 10,$000, definition, pretty open-ended. china stepped up the mining crackdown, crypto very volatile, just last week you have bitcoin and either at record highs, after a 7-week rally you are singable back? >> any idea brokers have to report bitcoin trades, that brings up the tax, are you going to pay the tax on crypto gains? >> if you are a minor or a broker. stuart: retail sales up one.7%, fairly strong. >> a full percentage point driven by early holiday shoppers nervous about the supply chain, no matter the cost. high gas prices factoring in. compiling fourth-quarter gdp it suggests we will see a end of the year with them. stuart: check the futures, we will open up a mixed picture, nasdaq down 20. michael lee is here. we call him mister super bowl, the bull market continues, goldman sachs continues into next year, looking at a 9% increase in the s&p to reac