Bitcoin and cryptocurrencies on a Novogratz understanding
No, those of you who know Mike know that this is about the tame version of Mike Novogratz that you're ever going to get. He just came from his daughter's graduation at Princeton, so he dressed up. Um, I was expecting something a little edgier, so I went, I had the edgiest footwear in my closet that I could find. And, and, and look at you, you're a bore. Um, we are going to be talking about crypto. That was a great way of introducing this conversation at some point along the way. I'm going to give you in the audience the opportunity to ask questions of Mike. I hope, uh, I would imagine you've got some burning questions because what we're here to talk about but Mike is here to talk about is cryptocurrencies as an institutional asset. Before we begin, let's turn again to our survey. You have the, a little clicker on your chairs. I would appreciate it if all of you could participate. I've seen a lot of them sitting on the floor, so just pick it up, grab it, and answer this question. Cryptocurrencies will be a bigger than the internet. Be Disruptive, but mainly to traditional banking. See something like digital gold or d, a speculative fad with no intrinsic value whatsoever.
So we'll wait for a moment while those entries come in and the survey says, ah, the sceptics. So Mike, you've got some work to do. We're going to read you that survey after the 30 minutes. So I don't think it's a stretch for me to guess, Mike, that you would have voted for an on that list. You know, I would have been a minus. To be fair. I, I see
this crypto revolution as Internet three point. Oh, uh, I mean the Internet really did change everything about the way we live and I do think in 15 years we'll look back in the blockchain. Maloo changed a ton. I'm, is it better than the Internet? I don't know, but it's going to be pretty darn big.
Smart money buying cheap bitcoin silent
In this video we're going to talk about some very interesting and fascinating information which I'm going to share with you and you're going to learn a lot from this particular video. Let me just say that now. Before we start going into that, I just want to do a quick recap, especially for those of you who are watching this video is for the first time you say, we'd been long on bitcoin.
We'd been bullish and long and bitcoin from about these lows. We've said now for some weeks you can go ahead and watch a previous video is about that, that there's a very strong likelihood. We said that bitcoin would hold these levels and I would start a rally higher. That is exactly what bitcoin has done so far. Now here's an interesting question I want to ask you.
Who Do you think has been on the wrong set of Bitcoin for the last few weeks? Well, the answer might actually shock you. You see, take a look at this.
This is the hot report where the commitment of traders’ report, which comes directly from the CEO of the Chicago Board of exchange, so what you're seeing here is exactly what the big and small traders and financial institutions and hedge funds are doing on bitcoin. What you're seeing is exactly what positions they're taking and how they're committing their money to Bitcoin, and this makes this report very important and I'm going to show you how we interpret this particular report because many people interpreted wrong.
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