Don't be a Part of the "Wait and See Group" - Start Investing in Crypto Now ---------------------------------------------------------------- Get the insider info on crypto investing! Join the INNER CIRCLE: https://www.boroncap.com/cryptoinnercircle Text “info” to (817)771-0615 or email info@boroncap.com for more information on investing in our crypto hedge fund ---------------------------------------------------------------- You don't have to know everything. You just have to get started. Don’t be part of the “wait and see group”. There are several ways for you to start investing in Cryptocurrency. If you're interested in investing in Cryptocurrency but unsure how to start, reach out to us. Learn more about Bitcoin updates based on fundamental and technical analysis. Join our weekly live show to learn more about Crypto!
KEY TAKEAWAYS:
00:00 Intro
02:04 Ray Dalio shifting his belief about Crypto
02:38 Billionaire hedge fund founder Ken Griffin admits he was wrong about Bitcoin
03:49 Mark Cuban and other investors soften their anti-crypto stance
06:30 How many hours do you have to invest in understanding Bitcoin?
06:54 Charlie Munger and Warren Buffet on Bitcoin
07:27 Are you part of the "wait and see group"?
07:56 Investing in Bitcoin in dollar-cost averaging
08:00 What is the easiest way to start investing in Bitcoin?
09:36 Cryptocurrency culture
10:25 $52 Million of Cryptocurrency sent to Ukraine Government
11:55 Power of decentralized currency
13:25 Cryptocurrency means freedom
15:40 Cryptocurrency use as a utility asset
16:58 Ray Dalio's new book
17:47 S&P 500 Downtrend
18:42 Bitcoin Uptrend movement
19:05 Bitcoin Logarithmic Growth Curves
20:00 Reclaiming 200 MA
21:15 Price depreciation
21:33 Luna outperforming Bitcoin
22:05 Why is Luna outperforming Bitcoin?
23:00 Switzerland Lugano makes Bitcoin and USDT legal tender
#bitcoin #boroncapital #thesolomoninvestor
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Get the insider info on crypto investing!
Join the INNER CIRCLE: https://www.boroncap.com/cryptoinnercircle
Text “info” to (817)771-0615 or email info@boroncap.com
for more information on investing in our crypto hedge fund
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*Other Episodes of The Solomon Investor Show CRYPTO ADDITION*
"Crypto Volatility is just Opportunity" -here is HOW to USE the Opportunity
https://youtu.be/cyomRHxueBs
How to Secure your Crypto in 7 Steps
https://youtu.be/kWt680Ns0Ms
U.S. has $3.6 Billion in Bitcoin!? Russia makes BTC Legal and Inflation soaring
https://youtu.be/bXsgi2Nc64A
CRYPTO State of the Market; What you need to know today
https://youtu.be/hgiQg4VQwwQ
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-- DISCLAIMER: Past performance is no guarantee of future results. Any historical returns, expected returns or probability projections may not reflect actual future performance. All securities involve risk and may result in significant losses. No communication by Boron Capital, LLC Inc. or any of its affiliates (collectively, “Boron Capital, LLC™”), through this website or any other medium, should be construed or is intended to be a recommendation to purchase, sell or hold any security or otherwise to be investment, tax, financial, accounting, legal, regulatory or compliance advice. Nothing in this episode is intended as an offer to extend credit, an offer to purchase or sell securities, or a solicitation of any securities transaction."
0:39
Alright, let me know when you guys are ready and we can go live.
0:44
I'm good to go.
0:46
Like, okay, Blake, you're opening us. Yes, sir. Cool. I'll tell you when we're good
1:08
right, we are good to go.
1:11
All right. Hey, this is The Solomon Investor show. I am Blake Templeton, your host. I've got with me Zach Morrow, VP of
1:20
investor relations. And Jeff sekunder, our Chief Officer of our strategies for cryptocurrency hedge fund. And today we're back at our state of the market cryptocurrency weekly show so much going on right now we've got Russia and Ukraine. And there's lots of perspectives and talents and how cryptocurrency is tied into that world. We've got breaking news on large influencers converting into a Bitcoin or a cryptocurrency optimist. And we've got some really interesting things happening that shows a clear picture of the culture of those who are cryptocurrency owners. So lots of Digest, I'm going to start us off and process through our large influencers. That's a fun one guys, because
2:15
normally in in business, it's been for Jeff Zack and I for sure that anytime everyone's going one direction, we should probably go the opposite direction. And so when the majority was doing something, we thought the natural condition of man or you fall asleep and become a machine, and then we would go the opposite way. Typically, it was harder, typically the adoption of going that direction wasn't there. Typically, we had to kind of, you know, make our own path. But that's what's happened in cryptocurrency owners, they've, especially the Bitcoin rebels who have, you know, trailblaze for you know, over a decade. And so we got Ray Dalio when we talked about a while back, you know, in 2017, he said, you know, cryptocurrency, Bitcoin, it's a bubble. It's not effective store hold the value of wealth, and it's volatile, unlike gold, come around, then it comes around in 2021. And says, personally, I'd rather hold Bitcoin than a bond. Obviously, this guy owns the largest hedge fund in the world, and 40% of his entire strategy was born. So huge shift. Well, now we've got another cutting edge individual. And this is Ken Griffin. Ken Griffin is the CEO of the investment firm Citadel, and if you have been alive over the last couple of decades, you know who Citadel is they have 235 billion in a closet, conglomerate of AUM. They they have their hands in so many different things. And he was a massive
3:51
crypto detractor, and he said things like cryptocurrency was the jihadist call against the dollar. And he's now come full turn. And he says, cryptocurrency has been one of the greatest stories in finance history over the course of the last 15 years. He says cryptocurrency market, the market capitalization is about 2 trillion in round numbers, which tells you that I haven't been right on this call. So he fully turns around and then he goes on to say that keep a watch on Citadel because they will have their hands into cryptocurrency. So guys, this for me, Mark Cuban, same situation fully turns around, Mr. Wonderful, another one of those who's who has just like the, you know, hardcore voice against it, and then now it's, you know, everyone should have 5% in their portfolio. And so, it's a big thing when someone that was such clouds in the financial world, sees the writing on the wall and realizes that
5:00
They have to change their entire structure, how they function. And that cryptocurrency is a place that they need to have their investments.
5:10
Any other thoughts on that?
5:13
Yeah, I'd love to jump in actually,
5:16
one and say, congratulations to Ken Griffin, because it's not easy to admit when you're wrong, and came back and changing that. So I applaud him for that, for sure.
5:27
You know, for those of you guys that are watching this, and obviously, are one of those, you know, but called Bitcoin rebels who've been around for the last decade in crypto,
5:35
you've dealt with all, all the all the, you know, the Fudd, the fear uncertainty, the doubt the lies coming against crypto, and you guys have been there stuck it out. And then there's those of you that are watching that, you know, are probably still on the fence. And, you know, one by one, we started to see these large investment groups, large investment, investment individuals starting to turn over the RIP, the real thing is like, Citadel, it might be one guy who said it, but he's connected. And he's had to make this change, because he said, there's been an absolute clear institutional demand. And what that means is you have a massive prep a push from all the people they're working with saying we want access to this market class. And that demand has required him to look harder. And I think I think the demand just continues to grow. We're gonna break down some of the technicals Jeff's gonna break into some of the technicals. We're gonna talk about, you know, how it's been performing against other markets over the last few weeks during these uncertain times. But I think it's it's so important understand, the demand is there. And for those of you that are looking for that institutional access, you know, I'm just gonna throw this out there. This is just, we're already doing this. So Ken Griffin and Citadel might be coming around in the future. Well, guess what? We've been doing it. And this team has been doing it for years now. So if you're trying to put money to work,
6:59
give us a call. So that's just a bold, unashamed claim and plug. I'm just gonna lay it out there. Okay. Because we've been doing it for years, we've been saying it when they weren't saying it. We've involved and we've got the experience. And the track record speaks for itself. So yeah, I just had to lay that out. But yeah, I love seeing them come around. I love I love seeing the adoption. And I really point, you know, the people who haven't spent time studying it. I mean, realistically, if you haven't spent 100 hours studying Bitcoin, cryptocurrency, you're not gonna understand it. You need a minimum of 100 hours. And frankly, I don't think most people spend five hours understanding what they're investing in. And I would tell you, it's very clear from the people that are the naysayers. I mean, because Charlie Munger, Warren Buffett, I mean, you gotta love them. They're pioneers all respect to them. But I think that their stances clearly show they haven't spent time
7:54
actually studying it. And unfortunately, you have these people out there that they're always being asked, because they are great influencers. I've been asked their opinion. But that's because people want to hear from them. And if they haven't spent the time, I mean, they should just say they haven't spent the time. And what you're seeing is when people did spend the time when the changes have happened, then then they're flipping. So
8:16
yeah, you got to spend the time guys, you got to spend the time and look, if you're not going to spend the time,
8:22
then you're going to miss it. Right? You're going to be the wait and see group, right? Wait and see. That's people that are sitting on the bench. Okay? Do you want to sit on the bench in life? That's okay, go ahead. But that's just not who we are. Right? I can tell everybody on this call, and everybody's watching this, you guys aren't the people that are sitting on the bench you guys have people in in the game, right? We want to be in the game. And, look, you don't have to go all in right away. But you should get off the bench, you can begin dollar cost averaging very simply, right? Whether you're an individual, whether you're a larger investor, if you're an institution, you can begin allocating in this direction. And I mean, that's something that if you're an individual, or even even our hedge fund investors, these are people that are dollar cost averaging in putting in more every month, every quarter every year, and they're growing their positions over time, you can do the same thing. So you don't have to go all in right away. You don't have to spend the 1000s of hours that we've spent studying it. But what you can do is begin taking action getting off the bench. And one easy way would be dollar cost averaging. I think with that said, you know, you mentioned that if you if you have to spend 100 hours, then you don't have a voice you don't you're not entitled to a voice and opinion
9:34
on that same point to complement that if you if you're not going to spend 100 hours but you actually see it you see the writing on the wall. That's why a hedge fund like ours is actually there, because we're there to simplify everything and do everything for you. So you don't have to go understand all the nuances of the technologies and all the algorithms and so forth. So, you know, like the distinction is the person who sits on the bench
10:00
because they haven't spent the time is different. The person who sits on the bench is like, I see it now. I wish I could just get into it. That's actually what we actually help you do. So this person, he's great point, you know, this person doesn't have the entitlement even say anything. So it's really strong point before we jump into
10:20
the stock market and how that's been affected and how interest rates can shift things. Let's talk about the the cryptocurrency culture. I think that as, as Ken Griffin had mentioned, it was like the jihadist call, you know, like against the dollar. I think that's kind of how people have always seen cryptocurrency and maybe even Bitcoin specifically, is that it is the thing that criminals use it is the thing that's, you know, in the dark web. And obviously, the more that we have your KYC know your customer, the more things become on the blockchain and readily available for everyone to see that the see the honesty and the transparency in cryptocurrency, it's actually something now that it keeps the criminals from using because everything is transparent, and you can see so much clarity, and we see the culture, I love this piece going into the Russian attacking Ukraine. So Ukraine is obviously shut off. And
11:28
they're obviously needing support, they're needing financial support. And obviously all the banks are closed down. But what's not close down cryptocurrency on a higher rail system. And we realize that literally instantly $52 million of cryptocurrency was sent to the Ukraine Government to actually supply aid. Now, I don't know what that tells you about
12:00
what I can tell you about Russia, but I know that I can tell you about the cryptocurrency culture and that means that they actually have a heart to care for people. These are not the jihadist these are not the criminals. These are people actually care. $52 million is a lot of money, especially out of individuals pockets. And they literally gave you in a high rail system where where everything else was shut down, but to the blockchain, they actually could get that money across a beautiful thing.
12:30
I think Jeff, you actually sent money, did you? Yeah, yeah. I sent
12:35
just over four grand I sent in Point. Point one Bitcoin. So yeah, I mean, I think it's super, super cool. That's, that's what cryptocurrency is all about is removing central powers so that the people can do what they believe is correct. And that's what decentralization is all about. So that is, I think that's a perfect use case. And while the sentiment of a war is typically really bearish for financial markets, you kind of have to have have the consideration that there is a potential scenario that people start to realize that this is exactly what cryptocurrency is all about. And this is actually turns really bullish for crypto now that people can't I mean, I don't know if you saw the Russian ruble, but it went to like, one cent it got like, it looked like a meme coin overnight, because all their major banks got shut down. And so yeah, super, super important events just in the world, and especially for crypto, really, really big deal. And I love I love to see that. And not that it's anything political. I think it's just important to kind of support the the whole crypto movement and also, you know, people that are I can't imagine having a war in my backyard. So I felt felt somewhat,
13:52
you know, prudent and nice. donating a little bit.
13:56
Yeah, we actually have a team member who's in Ukraine. And yeah, I mean, he he's right in the middle of it. So it's, it's, it's, it's pretty wild to see. And, you know, it. It is encouraging, though, I think that people miss that is like this community, even though crypto spans across a multitude of different use cases.
14:21
One of the underlying themes you're seeing across people who participate is sovereignty is freedom. It is individual rights. And for those of you that believe in that, you don't, you may not know it yet, but you believe in what crypto is doing and what it can provide for the world. I mean, it just same thing. I mean, a couple weeks ago, when Canada shut down their banks, I mean, they seized over $9 million in donations towards a towards a movement that protests group with the truckers, and they seized it. The Canadian government said
15:00
We don't like how you're spending your money, we're going to take it and we're not going to let you spend it that way. But guess what, they just shifted over donor started sending in crypto, and money was raised that way, they couldn't censor it, they can't stop it. And it gives you back control gives you back freedom, and allows you to spend your money the way that you so choose without without censorship. So neat, neat opportunity there. And obviously, for all the problems going out there, we definitely
15:28
are prayer for that. And, you know, wish everybody stay safe and like to see it shape up soon,
15:34
you know, probably a good time to maybe shift gears
15:39
and go over into some of the technicals now because, you know, it's important to see what's going on actually, in the market, obviously, our conviction long term only grows day by day with everything going on.
15:52
You know, you've got more people in the Senate stepping up and, you know, speaking out for the US to become a leader in crypto, you've got cities in Switzerland now just made Bitcoin legal tender.
16:05
Up, I mean, it's just, it's just on and on. And, you know, we've seen Bitcoin continue to perform and outpace really, during these uncertain times. I mean, Jeff, you brought up a really good point that during times like this, of economic crisis of war, I mean, it, it can really do a lot of damage to financial systems. And we've actually seen Bitcoin outperform every other asset class, during this timeframe. What do I mean, what is? What do you take away from that?
16:35
I mean, yeah, it's kind of reflecting what I was mentioning is, I think that we may start to see a transition in where people actually are using it as a, as more of a utility type asset. And then to escape the Central Powers of these different governments and things that limit people, you know, if you're in the US, you have it super, super easy, to be honest, you don't have to worry about like if, for example, in Greece, they'll literally won't let you withdraw any money sometimes, or sometimes a limit to $500. You know, you got places in Zimbabwe where you got a wheelbarrow, a wheelbarrow full of cash to save $100 trillion bill, because the IRS irresponsibly print money. So like it's it's valuable to people in the US, but even more valuable to people overseas. So I think that's something like a lot of us, we're kind of in a little bit of a bubble in the US, you don't quite understand how important it is,
17:32
you know, to people overseas is even more important to them.
17:39
Could you let me share my screen, I can show some technicals as well.
17:45
But yeah, I mean, we've definitely seen this like I talked about. And here's the cool thing is if you guys haven't watched this yet, you know, Ray Dalio came out with a new book, The changing the New World Order, and he just posted a YouTube video today that kind of breaks down in like 40 minutes, I highly suggest you guys going to watch that. It is a really, really great video. And it's crazy how many of those things are actually kind of playing out with you know, all the all the debt bubbles that he talks about? If you read his book, he talks about like, how education kind of goes down the tubes first, and then everything starts to cascade after that, and that is what has happened in the US. And then we got a huge debt bubbles, massive, like currency, inflation, and then you typically start to see wars, and we just started to see worse. So it's pretty, pretty crazy, to be honest. But this is a stock market, the s&p 500 we were trading
18:42
in an uptrend for a very, very long period of time in September, we did have a correction in the market. And part of the reason I believe was from that Evergrande company, that's 300 billion in debt over in China. They're their largest real estate developer, they're missing payments during this time. Could be other things as well, but it lined up pretty perfectly with that news. That was that was talked about quite a lot. And then you know, recently with the wars and stuff, we've seen it be pretty choppy and now we're starting to trade in this downtrend here. So I do believe we are kind of reversing in the stock market. It'll be interesting to see what happens with cryptocurrency kind of like you know what Zack was saying is, you know, it has been we've seen some pretty decent corrections in the stock market but overall Bitcoin has been somewhat trading upward since you know, this 22nd of January was on a huge downtrend from all time highs at 69k.
19:38
My personal opinion is I do think we are going to kind of continue trading in this zone I could see a move further down to around 30k I think that's pretty likely and we are holding some cash to the side just to for that type of an event and you know if you look at just historically Bitcoin has traded in this
20:00
In this range with a logarithmic growth curve, and I do see this continuing to play out. And, you know, it's hard to even, like, if you haven't been used to looking at log charts, it's hard to even comprehend but like, you know, down here, this is when Bitcoin was was 18 cents right here, like it's, it's hard to use logarithmic charts to actually look at price over long periods of time, that's really, really volatile. So these zones are actually quite wide. So it's from 30k all the way up to like 169k or the bottom and tops of of this. So, it is quite a long a wide range, but historically, we have seen it touch in a bear market, and then at the top of the market, we have seen that touch at the top of the curve. So we are again, kind of looking at that 3030 to 50 range for for Bitcoin to accumulate more and other than than Bitcoin and also I'll say one last thing,
20:58
I think it is important to at least take over this 200 day moving average, that's really we've had quite a few break fake outs with with BTC. Recently we were in a really long downtrend and we broke that same thing with the RSI, which is the relative strength of the asset that you're looking at, we had a really strong break here and we saw pretty decent move in BTC. And the thing is, is that's typically what institutions and whales will do, they'll move price just above a previous swing high to kind of liquidate you and that's exactly what you see this was the previous swing high a few weeks above came back down long wick and then you see another wick almost almost above that once again. So, my my point of view on a true trend reversal is at least reclaiming this 200 day moving average which is sitting close to the the next swing eye which is right at you know 49,000 So once Bitcoin starts to flip 49,000 We can start to consider a true trend reversal on one of our largest holdings and things that we love holding especially during a bear market is like we like to hold deflationary assets that are typically decreasing in supply because if you've got you know a bearish price momentum and the price, you know, continually going down and then you're also increasing the supply. That's a recipe for disaster as far as price depreciation. So this is one of the coins that we like it's called Luna. It has been outperforming pretty much everything. This is Luna USD, over the past like year and a half. You can see it's absolutely erupted to $91. And then this is the Luna BTC. So this is Luna denominated in Bitcoin. So the more that this price is going up, up to the right, the more that Luna is outperforming Bitcoin, and it has been consistently outperforming pretty steadily since the 18th of January and 2021. So really strong asset and part of the reason is because it's a really unique project. So there's a thing called ust which is Tara US dollars, it's pretty much a stable coin, and the more that the USD is being used, the more that they decrease the supply of U of Luna. So when they when USD has a really big demand because it gets listed on a new exchange which has been listed on quite a few new exchanges. They create new USD in order to create new ust they burn Luna. So Luna is decreasing as supply as a stable coin is increasing and being adopted more and stable coins are more and more used throughout bear markets because people are trying to hedge against bearish price action and typically they sell into a cash or cash equivalent, which is ust so we have seen that and it's an asset that we feel pretty good at holding even during a bear market.
23:54
Awesome.
23:56
I think if going back before we close the show, going back to just some some key news. If you guys have any other pops of news but Switzerland the city of legato I said that correctly as just made Bitcoin legal tender and over 200 shops and businesses
24:17
in in Lugano, Switzerland, now accept Bitcoin after making legal tender, and you're going to see more and more of this and those who actually take this adoption into a city and then into a state and into a larger picture. There's there's a, you know, underlying principles of whoever can adopt sees the vision and adopts Bitcoin, Countrywide, as in legalize it as illegal Tinder could become the biggest country in the world, because you're tapping into every single human globally who actually has
25:00
Has cryptocurrency and everyone wants to be treated where they're or to live where they're treated best and to do business where they're treated best. So there's a lot of movement like that that is very, very positive for Bitcoin before we move
25:16
before we transition
25:19
to close anybody else have any thing else to share?
25:25
By Bitcoin by Bitcoin
25:29
Awesome. Hey guys, it's it's always a pleasure for us to come to you guys every single week we do this on Thursdays 4:30pm, Central Standard Time, give you the state of the market. Hey, what's happening, the news tell you how it's affecting cryptocurrency, tell you a little bit about what we're doing specifically in our hedge fund, boron digital large cap fund. And for those of you who are on the sidelines, Zach said, Get off the sideline. That's right, the realization is, is that you don't have to know everything. So I'm going to give you guys all of our contact information in the show notes. And the key is, is that you've just got to reach out, you've just got to reach out as a reach out your hand for help.
26:16
We're used to doing that in the financial advisor world, like everyone has their their guy, your financial advisor, the financial advisor world, they're not regulated to actually do anything in cryptocurrency. So it's kind of like T rex with little arms, you know, they can't do anything in it. So if you want to go into cryptocurrency, you'll know, put a portion of your retirement into a place where it's a store hold of wealth, where it's actually not denominated in US dollars, where the value of the dollar is going down. If you actually want to have wisdom and step out of the US dollar and actually build wealth. In cryptocurrency, you're not going to be able to do that through your financial advisor. So you got to find someone who actually can help you. And if that's of interest to you, then
27:08
look at the show notes. And you've got all of our information on how to get a hold of us and to make this a very, very simple process for you. One last thing I want to say is that for those of you who have Bitcoin, so maybe you bought that coin, again back in, say 2017, at a specific time, it was like $2,000 a coin, and you now have rode up. And now you you see yourself with, you know, seven figures and you're like, I don't even know what I'm doing. And this is it's volatile, and I'd like to actually do something with it.
27:48
Those individuals who are in that unique, blessed scenario, we have a program where you can move those funds into the hedge fund without having a tax consequence. So they can go from your current Bitcoin into the hedge fund without a tax consequence. And then you can actually have everything in a much less volatile position with much more wisdom as we navigate the market for you. So another opportunity want to make that clear that we would love to help if that's that's you again, guys, we looked forward to seeing you guys next Thursday. Be blessed and join us in praying for Ukraine and that God would support the hearts that are turned him so blessings on you guys
Transcribed by https://otter.ai