truckin miller you know they they've all started take a possession they've got in the case stan druckenmiller he's got a call physician now he's got a pick point possession so the institutional money same sarette the guys because it's value as a store of value and they are talking about inflation and how to cut and paul tudor jones us words because that would be the fastest horse in the race so. you know if rates are rising now that doesn't sound inflationary to me. you know what what's your take on this if interest rates are rising it doesn't sound inflationary here in the aca as it supports the dollar and then a rising dollar would be would be deflationary not inflationary well if you look what happened in the seventy's and mean you know interest rates tend to rise commensurate with inflation ok so this is this is not my is that we have been really dry history and it was the it was the interest rate on zimbabwe. you know look what's happening in turkey so you know is there a sense or eyes of the it with rising inflation and real interest rates or the death knell for gold you know i am led t

50000000000 it shows you where we are now in the cycle because guys like paul tudor jones or stan druckenmiller or others they'd be tend to think of hundreds of billions and trillions that's their market yeah so. the difference between 250000000000 and 500000000000 is a rounding error this is not a big. deal this is like oh i meant $250.00 but the $250000000000.00 for paul tudor jones is the way you and i would think about lunch money right now i mean but that's that's who is now attracted to the big coin universe and that's what he's saying is that you know it should be $8910.00 trillion dollars in value because it is para pursue with gold and i through use that word purpose to appeal to paul tudor jones because those are wall street guy i know he likes to hear words like purposes because it sounds so frickin elegantly european banker like and so yeah we're going to 500000 going of course and you know i like i was saying guys like nuria roubini it's not that he's wrong anymore because clearly he is wrong but he's become humiliated in that sat he's he's become humiliated shell of himself desper

hedge fund very famous had fund manager and other hedge fund managers followed him including stan druckenmiller and then the likes of black rock then entered but he said something interesting and i want your comment on it looking forward in the big community for the next few years since he said that gold was a bet on basically apocalypse and humans not saving themselves and everything all people for themselves all individuals for themselves whereas bitcoin was a bet on the future of humanity and innovation and you know positivity essentially i think we can say that the big question community has been funded upon the possibility you know the thing to go man to big point in the 1st place is the whole . mission behind big versus the banks and i look forward to seeing more of that rhetoric come you know over the years there's been lots of infighting within the big queen community but i think as we start to see more challenges would be a coin i missed all serene return to that original rhetoric the original vision of what this was actually created for and not genesis blog when they originally said c

likes to coin better at that time was 14000 then he liked it when he bought it at 4000 so then stan druckenmiller came out soon after and said he had started buying back wine and now black rock is also saying the same black rod. as you know is the biggest asset management firm in the world like it is this thing i mean it's not it 2020 was the year that the institution started to come 2021 if there's a flood of these institutions coming in you know this all time high that we just hit in december it's going to be blown away i mean even even citibank is is saying that they see bitcoin hitting 318005 december of 2021 you know what you're seeing of this you're right you're seeing c.t.s. get involved so nice guys are looking at church action volume in bitcoin has gone up significantly because people are starting to dip their toe in the water and that's why there's a lot of interest because you know i told you back in the early days because before big quinn would ever take off you have to see managers dipping their toe or dipping their toe blackrock makes most of their money on commissions basically the

net worth and institutional investors are getting in we have heard names like bill miller, stan druckenmilleror jones backing bitcoin recently it is also backed up by the numbers. total accounts moving $1 million worth of bitcoin and moving it off of exchanges up. analysts saying wealthy investors are loading up on bitcoin and take it offline to somewhere more score 2017 was the year of initial coin offering and frenzied activity not the case this year they found more people are holding it versus trading it back to you guy. >> kate, is there a difference now in how people are buying bitcoin this time around compared with 2017 >> they found it is much more mainstream it used to be crypto exchanges now it is places like square and paypal and also gray scale's bitcoin trust. that's the vehicle that guggenheim is using. it is getting more mainstream. >> when you say big hitters are moving it off the exchange into other secure places, how do you do that. >> you put it on a hard drive -- it depends fidelity is one of the companies that does custody. they will hold it for you. you can put it on a ha

stan druckenmiller has phone favorably, the winkleweis brothers i would encourage people to look at that salt talk that him and i did about a month ago and basically he suggests and i believe it's true, any time you see a structure get to a market capitalization of billions, and we've learned from the tech giants once you get to the 100 billion number, it goes up exponentially from there it's for those reasons and many other reasons we're excited to launch the fund and looking to take in new money on swrajanuar 4th. >> john najarian, you're my bitcoin expert you want in? >> love it, scott. we've been teaching crypto currency trading over at market rebellion. we're a big investor in a brokerage called voyage, the brokerage, scott is up that's how massive the appeal is for individuals to get in here we're launching a fund in 2021 that won't be like anthony's, it will be a private fund, a hedge fund, if you will, scott but the paperwork is already there. we're very excited about the space. anthony and i have talked a number of occasions about trying to get a bitcoin fund up and going betwee

this week some of these better-known investors have been pretty vocal, paul tudor jones and stan druckenmillerlighted bitcoin as a hedge against inflation in their own portfolios with new demand there's also lower supply chainalysis reports people are selling 800,000 less becopies than they were three years ago there's also new celebrity intrigue this week right as bitcoin hit its all-time high yesterday. rapper meg an me stallion had a square share app re-tweeted by twitter ceo jack dorsey and celebrity endorsements aren't always a good thing. typically been a bellwether for the top of the market. kell, back to you. >> so true, kate part of what you said though about the sort of small supply base is so interesting because a lot of retail investors are sitting there with now gains presumably even if they have been under water for the last few years, that they are suddenly going, okay, if i hang on to this thing for some time and that's one of the bold cases for bitcoin is that there's just not a ton of supply available. >> right there are some people hanging on from even three years ago, and i

you may recall stan druckenmiller recommend both of these names rights here on the show in early novemberboth up 20% since then. >>> coming up, pets are so hot that one company is now going public for a third time. that plus the auto stock that could rally another 25% and a movie theater chain's plea to investors. that's all coming up in "rapid fire" after this (♪ ) keeping your oysters growing while keeping your business growing has you swamped. (♪ ) you need to hire i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. claim your seventy-five-dollar credit when you post your first job at indeed.com/promo >>> welcome back let get you caught up on a few stories on your radar today. here to break down the headlines, dominic chu, leslie picker and mike santoli. petco looking to go public again. it reportedly plans to raise $will hundred million in the ipo and will trade on the nasdaq under the ticker woof, of course this is its third time going public petco last traded in 2006

takeaways from the investor are -- there can still be legs for home depot and lowe's, even stan druckenmiller are they going to have a hangover as people kind of go back to normal and this has pulled forward a lot of demand so home depot, lowe's, maybe a tractor supplies, where are the places that these results leave you the most positive on >> there are covid beneficiaries that continue to grow in 2021 around the beyond and especially those that have sealed their dominant market share and are taking market share from smaller retailers in the category, so like you mention, home depot, lowe's, tractor supply these companies have now very, very strong cash balance one of the things we saw from lowe's today at their analyst day is their outlook for next year, even in a worst case scenario, they still have their operating margin up and they plan to do $9 billion in share buybacks so the companies have large cash hordes they can deploy towards growing share hold her value and also towards investments in deepening their competitive mode for the future so we really like the large well capitalized re