Bitcoin Blasts Through ATH, Alts Surge | REKT Vision

11 Jul 2025 · 1 h 7 min

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Podcast Episode Summary: Bitcoin Blasts Through ATH, Alts Surge | REKT Vision

Episode Overview In this episode of the Real Vision Podcast, co-founder of Rekt, OSF, is joined by Sergio “Sergito” Silva, CEO of Meebit Company, to discuss the current landscape of cryptocurrencies, with a specific focus on Bitcoin breaking its all-time high (ATH) and the surge of alternative coins (altcoins). The discussion also delves into the implications of recent macroeconomic trends and the launch of a new trading platform, Arch Public.

Key Themes

Bitcoin's All-Time High

  • Significant Rally: Bitcoin has recently reached a new all-time high, driven by macroeconomic factors and increased market participation.
  • Market Insights: The conversation discusses how a recent Congressional bill indicates ongoing government spending, which can lead to increased interest in fixed assets such as Bitcoin.

Performance of Altcoins

  • Ethereum and Altseason: A strong sentiment emerges regarding the potential for Ethereum (ETH) to lead the altcoin market, with discussions reflecting a bullish outlook on ETH compared to Bitcoin.
  • Market Dynamics: The hosts analyze recent price movements, highlighting that while Bitcoin remains dominant, altcoins are experiencing significant upward momentum.

Influence of Macro Trends

  • Policy Implications: The discussion touches upon the influence of U.S. fiscal and monetary policy on cryptocurrency markets, suggesting that ongoing government spending may help sustain the bullish trend in crypto assets.
  • Investor Sentiment: Participants note a shift in public perception of Bitcoin and cryptocurrencies, with more traditional investors expressing interest and a desire to participate.

Insights from Arch Public

  • Algorithmic Trading: Andrew Parish and Tillman Holloway from Arch Public discuss their new algorithmic trading platform that includes Sui algorithmic trading on Kraken, emphasizing the benefits of automating trading strategies.
  • Managing Market Volatility: The discussion highlights how algorithmic trading can help leverage market volatility to optimize buy and sell strategies.

Key Takeaways

  • Positive Market Sentiment: Both Bitcoin and altcoins are experiencing a resurgence, suggesting a robust market environment.
  • Ethereum's Growing Importance: Ethereum is positioned to capture increased interest, driven by developments in its ecosystem and a shifting narrative among investors.
  • Algorithmic Trading as a Tool: Automation in trading provides advantages, helping investors manage volatility and execute trades without emotional bias.

Conclusion The episode provides a detailed analysis of the current cryptocurrency landscape, emphasizing the growth potential of Bitcoin and altcoins amidst a favorable macroeconomic backdrop. It also introduces listeners to the advantages of algorithmic trading as a tool for capitalizing on market movements.

Additional Resources

  • For more insights and to explore algorithmic trading solutions, visit [Arch Public](https://realvision.com/arch).
  • Stay updated on market trends and investment strategies by subscribing to the Real Vision Podcast.

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Transcript

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0:00Before we start, I want to take a minute to talk about our friends at Bitwise. Bitwise has a lot to offer to people like us who live and breathe crypto crypto every single day. They're a crypto asset manager with$10 billion in client assets and a team of more than 100 people across the US and Europe. They've got the world's largest crypto index fund, a wide range of crypto ETFs, on-chain solutions, you name it. They also manage private alpha strategies, have SMAs for large investors and are one of the largest institutional Ethereum staking providers. And by the way, they've been doing it all since 2017.

0:33These guys are pretty much OGs. so check out bitwise go to bitwiseinvestments.com and see all they've got to offer that's bitwise investments.com or just email james at bitwiseinvestments.com let them know that rekt brought you over there are a million ways to access crypto do it with those who are all in on crypto who care about the ecosystem who live and breathe crypto every day look for bitwise at bitwise Investments.com. And of course, always carefully consider the extreme risks associated with crypto. Hey, Real Vision viewers, a quick pause to introduce you to today's sponsor, Axelar. Axelar is building the rails for the next wave of global finance, not just crypto, but the future of how assets move, how markets connect, and how institutions plug into open systems.

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2:08That's A-X-E-L-A-R, the gateway to open finance.

2:20Well, hello, everyone. Welcome back to a new episode of Wrecked Vision. We don't have Mando this week, but we do have a very suitable replacement. Welcome back, Sergio. The CEO of the MiBits company, a recent title for you. So congratulations on that. How are you doing? Welcome back to the show. Hey, man, thanks. It's always exciting to be here when things are pumping. A lot better than when things are wrecked. Even though Rekt is doing so well, so I'm just happy to be here with you today. Awesome. Good to have you back on the show. Before we get started, we're going to be joined later on by the Arch public guys, our affiliate partner.

3:02They've just launched algorithmic trading for SWE on their platform. You can check it out on realvision.com forward slash Arch. There's also a free tier you guys will have access to. So we'll get more to that at the end of the show. but we will kick things off here on what may be one of the greatest day the greatest day this year I think for crypto some may say the lovely summer of risk well and truly in play right now what's your take Sergio? I think the thesis is playing out beautifully right I think after what happened last week Congress and the big beautiful bill it is clear that any administration is just going to spend money here in the States.

3:48It just depends where they're focusing that spend. And it's clear that, you know, they're just going to keep printing and there's no limit to what the US is going to do as far as like debt concerns or anything like that. So obviously Bitcoin, crypto, you know, fixed assets are just going to continue to outperform, I think, as well as with stocks, right? But that's kind of like a given. Yeah, I think so. It's interesting because it feels like we've had this mammoth stock rally now for a while.

4:24I guess since the April tariff lows, but stocks have sort of just kept going. And in the last few days, stocks have somewhat stabilized. But it really, really is now crypto that's just on a mission. Like Bitcoin yesterday with all the short liquidations and everything and ETH followed suit afterwards. It does feel like we're finally starting to see that crypto outperformance again. It's kind of led by Bitcoin, but I would say Bitcoin dominance is off the highs. ETH BTC is starting to move higher. There are many altcoins in the last 24 hours that were up quite a bit. So it does feel like we're starting to see some of that performance.

5:01Do you have a view on like, I know the CT is very split on this view with many people saying it's just going to be Bitcoin led rally. Many people are in the old season camp, which I definitely am in. Do you have any view there? Yeah, so I think it's ether season, right? Yeah. It's clear. So I haven't spent as much time in the trenches as I used to spend. I'm just kind of like taking a step back. Obviously, now with everything we're doing with MiBits, but definitely still have my finger on the pulse. And it was quite clear, you know, 18, maybe 24 months ago that Solana had all the mind share as far as what was going to be the next big thing after Bitcoin.

5:45I think Bitcoin has been in since the ETFs. I mean, that's just a function of flows and the ability for anybody with a brokerage account, with a retirement account to get exposure. I think the few times that I've been here, we've discussed that at length, mostly with Mando. But, you know, I think Bitcoin dominance, it was a one-way street. but now you get that narrative change. Now you get people really starting to wake up to the things that are happening in the Ethereum ecosystem which is first and foremost, right? The new leadership of the Ethereum Foundation is incredible and you're seeing it not just directly from the EF but ecosystem leaders like Joe Lubin going on CNBC really starting to pound the table and pick up like new figureheads that are also going to start really doing kind of like the sailor role but for either like Tom Lee and then this whole narrative around stable coins, right?

6:35Like if we're going to have a trillion dollars worth of stable coins, they're not going to be secured by a chain that only has $300 billion in market cap. So I think that's just a narrative that becomes very self-fulfilling, just like the bearish ETH narrative became very self-fulfilling prior to, let's say, like a couple of months ago. It was just one of those things that fed on itself and it made sense. But now you've seen the changes, people that were at the core wanted to see like the Ethereum mindset change, that's definitely changed. And then you're starting to see the narrative outside of that also just be like people are bullish.

7:09I think just from the catch-up trade where it just retraces back to the highs, that's what a solid almost 2x from here, a little bit less than that now that it's rallied so much this week. So I think that as we've seen, it's such a momentum driven market that it just continues to feed on itself. Also, I think CT, everybody says they hate ETH, but we all have a lot more exposure to ETH than anybody would care to even just admit. Because the majority of like at least this last five years of CT is people that came in to Ethereum. And it's all like dear to our hearts. So I don't know, it feels like there's a definite, definite vibe change where it's just like Ethereum's turn.

7:55Yeah, yeah, I agree with that. But I think we've had a few different calls on the show and we're not always right on all of them. But Amanda and I did kind of flip bullish on ETH a few weeks ago, which, I mean, I want to say it was good timing. It's not like this is probably two or three months ago. It's not like ETH has gone crazy then. The sentiment around it has improved significantly, but the price action, I think, has been okay. It's been decent, but it hasn't been crazy. But that's one that we... I've been quite bullish on. The other thing that we mentioned, I think not on last week's shows, but the week before, was that Sharplink looked very interesting.

8:37So you had that big run up to about 100 or something like that. And now it's been on the move again. And I don't know quite where it is now. Because we were looking at Sharplink versus, yeah, so it's up 20 % today. It's probably up about 2x off the lows, maybe even more than that, 2.5x off the lows. but that is one that seems to be on the move. It seems to me that the playbook for some of these crypto treasury stocks is you have this initial pump when everyone FOMO is in, then it just pukes and sells off. And then you start to see the real capital flow in and things start to move again. Do you have any view on how this stuff would trade versus ETH?

9:23We were chatting about this a couple of weeks ago again. And it's like, you know, is this maybe like a more convex way to play the Ethereum trade because of how strategy trades versus Bitcoin is much more levered and moves up a lot, moves down a lot. But, you know, with something like Sharplink, which is, I guess it's off the lows now, but a couple of weeks ago, it was pretty much like back to the lows. It was like that seemed to us a more interesting way to play ETH. But, you know, at these levels, it's less clear. Yeah, I think for a trade, to your point, right, convexity, like for me, convexity is hard to pitch a position that has higher convexity because obviously it works both ways, right?

10:06To your point about it drops so much after the initial pump. Obviously, if you're not sitting there in front of the screen every single day, don't really know how to risk manage this kind of stuff, you can get in over your skis. And it could be you could have the right view, but the wrong trade on. I think for this, it's specifically the Ethereum treasury companies. Until we see an actual micro strategy type execution where they go out, they offer more shares, they lever themselves up to buy the underlying. it's going to be like anybody's guess as to what happens. I will want to see one or two of the companies like really execute the way MicroStrategy does to really have more conviction on buying the equity.

10:49Personally, I'll just rather hold the ETH myself. Again, just let it run, do its thing. I can use ETH on chain for other stuff. Don't really, I personally don't have the ability to buy U.S. equities given my wife works at a bank and it's a whole mess as you remember. but I've been looking at them I've been looking at them just because obviously it's part of the new Ethereum narrative and to me it's just like I don't know it's rather by a call option on ETH if possible rather than try to play these weird structures that unless you really understand capital structures you really trust management to go out and do the right thing I think can leave you with the right view but the wrong trade and obviously I skilled a bit more conservative on the risk curve myself.

11:37Yeah. Yeah, that makes sense.

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12:16With a simple and intuitive platform, you could trade anytime, anywhere. Experience the fast, accessible futures trading you've been waiting for with Plus500. With over 20 years of experience, Plus500 is your gateway to the markets. Visit us.plus500.com to learn more. trading in futures involves the risk of loss and is not suitable for everyone not all applicants will qualify plus 500 it's trading with a plus i think that's fair i think that makes sense it's also sort of like an it's a bit of an unknown quantity at least with strategy you sort of now have multiple years of performance and a good idea of what they're going to do with sharp look it's less the case but then you know you sort of have joe lubin talking about it who i think is definitely a respectable person like i don't think he's going to do wrong by he has no reason to or need to his main goal really is to you know push ethereum i think so um i do think it has enough backing by legit and real people where um you know it's less of a that stuff is less of a concern to me um and it's definitely a tempting it's tempting trade you know what i wish i wish there was i wish you could trade this stuff on chain or just like with with crypto i know you've had some of these stocks you can trade on robin hood now and that kind of stuff and on jupiter um but i'd love to be able to trade like sharp link and some of this stuff um just because the main hurdle for me is like moving money out of crypto and into or just even moving fiat to a brokerage account.

13:53There's just so many hurdles you have to jump through. It's so frustrating where it's like, with your own money on chain, you can just move it around wherever you want and just ape basically. So I kind of wish there was, I know there's a Sharplink meme coin, but it's not quite the same thing. Why not just do like ETH perps then? If this is like an ETH beta play, a little bit of leverage, which is what you're getting at the end of the day. It's just a different kind of like turn. Yeah, it's funny, right? I don't want to sound like the contrarian, but quite bearish like stocks on chain. And I've put out some tweets over the last few.

14:31Yeah, I fundamentally having worked on an equity, you know, sales and trading desk for over a decade. There's a lot of mechanics there that I don't think yet makes sense. especially when it comes to like governance, dividends, voting, like what's, unless you're actually issuing the stock from the beginning on chain, or you do like a shelf for on chain stock. Yeah. Kind of like taking something that's, you know, a legal concept in the traditional world and trying to putting it on chain with like all kinds of, you know, risks that you introduce. Yeah. I don't think it's the most efficient way. I would want to start with ETFs actually, because ETFs you don't really have to worry about, you know, because when you buy, and I know everything's a meme nowadays, even with stocks, but you technically own a share of a company.

15:18That's what you're buying at the end of the day. I doubt most people say, oh, wait, I'm 0.0001 % shareholder of Apple, but you are if you buy the equity and it's sitting with a custodian. If I buy a tokenized version of that, that's a derivative that sits in my ledger, for example, there's a huge, huge ocean between that. But But anyways, that's for another day. I agree with you, though. It would be fun if people could participate in some of these narratives on chain. But I do think if the trade here is Ether, then just Ether perps with a small amount of leverage. I don't use leverage. But people that do, I think, could be similar.

16:01And then to your point, you can move in and out quickly and not have to worry about dealing with the trading hours on traditional markets and so on. I had one more question on that topic actually for you. What about, I know maybe like having actual stocks on chain is difficult because of all the benefits, I guess, if you feel like you get with any equity. but what about just you know derivatives like there's stock futures markets there's cfds um all that kind of stuff just what about like okay stock futures on chain where you don't have to care about any of the um kind of like governance stuff that makes sense but it is just like a speculation on the price and maybe there's maybe there's a deliverable or maybe it's a perpetual future so there's no deliverable at the end of it like what do you think about that my my first question is always like why right like why who does not have access and i know people are outside the us but the majority of the people train this markets are in developed markets right like why is the point of trying to get access to like a stock like apple that moves two percent a day if that yeah obviously there's days that they move a lot more but you know a two three and to$300 companies not moving that much on a daily basis.

17:24And so you're paying some sort of funding for the exposure. I mean, there's so many things on chain that move a lot more. If the view is like, I want to trade and perps, perps on like a bunch of things, because those underliers move a lot more. Like how much does their average S &P move in the day? Like less than a percent probably. And so then there comes a reason of, I think the rage is direct. They're like, oh, yes, stocks and chain. Oh, we're bringing Wall Street and TradFi onto the blockchain. We've won the narrative. These guys are coming. When in reality, the most successful product that's been integrated in that sense is the Bitcoin ETF, where we took the crypto coin and we put it in a traditional market.

18:07So it was the other way around. Same thing happened with NFTs. We didn't really bring traditional collectors to this world in the sense of growing that. All we're doing is just slowly penetrating the Sotheby's and the Christie's and the museums. So I think that there's outside of the narrative and the VC money that's being pumped into it, there's actual little why when you have really good stuff like Robinhood and all these other the brokerages that allow you to access those markets already. And yeah, if you're abroad, I mean, let's just be honest with each other, right? Like what is actually the buying power of somebody sitting in Brazil?

18:52Oh, by the way, Brazil has an incredible electronic equities market. And they're actually one of the pioneers when it comes to fintech. They have a lot of access to these types of things. And so the retail crowd outside of the US that has the means to trade US equities, They usually get exposure through some of the stuff that you mentioned. So I don't really see something that is like, oh my God, like this is so much better. And it warrants the level of like, yeah, we're going to trade Apple on chain. Like, okay. Like it's the same. It's like, oh, I don't have to KYC to get trading on chain. At some point along the line, unless somebody gifted you crypto, you KYC for like a crypto exchange, even if that was like PayPal or Venmo, like that is KYC.

19:35So I don't know. Again, I think it's just one of those narratives that's completely overblown. But if it brings eyes to Ethereum and the whole world is going to get tokenized and it's going to be on Ethereum, hell yeah, let's go. But technically, I am a little bit more bearish than the actual narrative when it comes to that particular product. Yeah, fair enough. That's interesting. I do think my only counter to it is I do think there's a lot of wealth in crypto like on chain basically that may never leave being on chain just because so many issues with getting stuff into your bank account and that kind of stuff.

20:08and I think people still I think personally I feel like for me at some point when I sell a lot of things if I ever sell a lot of things I'll have a lot of stables on chain I may not even put that into real money I may just keep it as stables for buying the dip again but I wouldn't mind being able to put that into more defensive things or maybe even start with more defensive stocks which stables do you use? USDC and Tether probably, right? Yeah. At some point, you have a feeling in the back of your mind that if you wanted to redeem that for dollars, you could, and it wouldn't take you too much, right?

20:48So you sleep fine knowing that you have X amount of USDC or Tether and three clicks of a button, you got dollars in your bank account if you want it. Whereas with on-chain equities in the current context, and I know we're super early and things are going to change, but the way they are today, hey, yeah, you have a$10 million worth of Apple, but it's some sort of like wrapper on somebody else's interpretation of an on-chain equity. Those stocks, those actual equities have to sit at a custodian anyways. So they're going to be like Boney or like one of those like big guys that would have been regardless if you bought them on Robinhood.

21:25So just adding like layers of risk where you're paying the same price, which I don't know about you, but I don't think that really works out over the long term where you're paying higher. I mean, you're paying the same for something that's got three or four terms of risk on top of the other. Unless you can buy the stocks at a discount on chain to compensate for that risk, that's a different story. But if I'm paying the exact same price that I would on Robinhood for something that is synthetic exposure that has two or three custodians along the way, and I have to take care of it myself, I think it just doesn't make a lot of financial sense.

22:00Yeah. Yeah, I think that's fair. I think that makes sense um yeah interesting i was i was not expecting to hear uh to hear you so negative on that so it's interesting to yeah don't worry to loom me i'm just i think being realistic a lot of the narrative sometimes people have never really sat on a desk and had to like source borrow and it's like let's it's yeah like we were talking like credit you know you could definitely bring a more nuanced perspective than would your average. Even like VCs, if you've done really well, like great, you funded some great companies. But when it comes to stuff like this, like unless you have actual experience, then it's a little bit more difficult to understand like the actual, that last mile, I think, is what's challenging.

22:54Also like a great opportunity. But yeah, I think my mindset will change once we get companies actually directly issuing equity as tokens or like tokenized equity directly from the get-go. Because then you'll have whatever frameworks you need to actually have a claim to that equity rather than some sort of... I mean, you traded credit derives. We know exactly what happens when a CDS triggers and your counterparty that's short to you says, no, that was not on the clauses or like I disagree with that language. And so now you got to go to court, you got to fight it out, you got to get the ISDA board to me.

23:35Like, it's just a mess. So yeah, at scale, I think that's my big concern with the current version of tokenized equities. But let's tokenize the world and put it in Ethereum. Yes. Yeah, yeah, exactly. Let's coin it. Let's coin everything.

23:52So where do you, what's your take on where we go from here? The Bitcoin chart versus the M2 chart still shows there's a lot of room for Bitcoin up to 200K. And obviously, we can't always track it one for one. And there's some lag and it's not going to be identical to it. But that chart clearly shows there's a lot more room. Next week, I believe we have CPI next week. and I guess payrolls is not until the first of next month, but there seems to be some increasing speculation on how having to do a rate cut or having to sit down or getting fired and someone else is going to cut base coming. So the rate cut narrative is really almost being forced down our throats.

24:40So it does seem like there are a few catalysts there and that's not to mention you have stuff like stablecoin regulation coming through in the US and maybe any findings or anything that comes out of the crypto task force in the US, which has been going on for over six months now. I think we're supposed to hear back from them this or next week, I believe. So there are catalysts there. So is your feeling and belief that this move can keep going from here? Or are we at a level where it's like, okay, this was where I thought we would be. Now we're here. So... I think, you know, Raul and Julian have been so consistent with their calls and their views that this has a lot more to go.

25:25And just looking and taking a step back and looking at everything that's happened in the last three or four months, that should technically be negative risk, right? You have an administration that's just shooting from the hip to call it, you know, to put a casual term on it when it comes to global policy, economic policy, tax policy, like fiscal policy. Like it's just all over the place. And it matters like a week or two, but at long term, it just really doesn't. And this kind of like beast of a market that's just, again, just fitting on itself, but like in a positive way where people just get more bulled up.

26:07You know, I used to, since I was on like the equity derivatives desk, I used to know the ETF market inside out. and I knew the volumes and like the most traded ETFs and all that stuff. Like it was, actually it was my job, right? So I hadn't looked at the ETF market up until like two nights ago that I was in a conversation with an old macro friend and I looked at the most traded volumes and it was insane. It was ETFs that I had never, that didn't exist when I was on the desk four years ago or five years ago now. But that also like the concept of them did not exist. It's like the 3X, you know, Tesla, the 2x micro strategy that's like this really degen tools that exist today just like you know zero day options and just continue feeding the flow monster um and the flows i think are just continue to be part of the narrative and it's just this flywheel that when you put that into a macro context like the one julian and ral you know have been describing continue to call for I think that's a perfect mix to just sit on your hands and just watch it do its thing.

27:15Will there be scary weeks and drawdown weeks and people get over their skis and we have liquidation cascades? Yeah, sure. We have that all the way from the last two years, right? But I don't know. I remember we were in Miami at the Real Vision gathering. And one of the panels was like, I'm just sitting on my hands and just waiting for this, like for really things to play out. so I think here being what like 5-6k above all-time highs a level that we've kind of like bumped against three or four times already probably in the face of everything is probably not the not the place where we're just gonna like stop and and one last thing I'll say is I was having a 4th of July barbecue with a friend and her husband and you know I'm in crypto they hadn't really brought it up.

28:07And the first thing he asked was like, man, did I mess up not buying Bitcoin before? I bought like 10K. I keep watching it. I want to buy more. It's starting. Those conversations are starting back up. I think people are quick to have PTSD. Like, oh, Norm is talking like Bitcoin and Ripple. Like, oh shit, it's time to sell. No, I think there's different types of signals. For me, it's my dad when he doesn't speak English and he's not in the financial market. So been the top in 17 and in 21 so i'm just waiting for him to ask me but before that is people who are adjacent to financial markets that are not into crypto that are like wow what a run am i late or like can you please tell me more about it so we're going through that like normie i don't want to say early adopter but normie like curiosity level that usually predates that really big run into the top end of the cycle.

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29:01Yeah, that's fair. I think I agree with you. I think just even though we've had this great big run, to me, it feels like it's less of a, oh, wow, this happened to more of like a, finally, we're moving now. That's the sentiment. And I think there are catalysts still out there. I think there are people who still want to get involved, both from a traditional and a retail standpoint. and i think at the beginning of the year trump almost looked a bit silly because we you know we had this crash and everyone's like oh this is just a scam again but we've now obviously reversed that and beyond and i think even not even just on like an investment or trading level but um on you know like for us and all the work that we're doing you probably have the same thing like when we mentioned crypto six months ago like you know for the rect ring stuff people would just wouldn't even pick up the phone to you or they would immediately assume you were some sort of scam whereas now you mentioned you know you're a crypto native project everyone feels like they almost they're not doing their jobs properly unless they're listening to you because they're seeing you know left right sense of what's happening and what's changing there so i think that's these are just like very structurally bullish things for the industry as a whole things that we've been like praying for in previous years and previous cycles that we now have and i I think people lost sight of that a little bit earlier in the year with the other crash.

30:29When it's like, look, everything is now, there's no Gensler, there's no SEC security stuff, you know, there's no Biden, all that stuff's gone. Like, this is like now a clean path for crypto structurally. And not only is it a clean path, but, you know, US is out there with their strategic Bitcoin reserve talking about potentially acquiring Bitcoin. Other states, sovereign nations acquiring Bitcoin. This is just like a next level thing. So I think these are things that are not to be faded and that I think could actually potentially put Bitcoin a lot higher than where it is now. So I'm still very bullish here.

31:05I don't feel like this is a point to sell or reduce risk. I think it's worth looking at alts. I'm still looking at a few alts out there, maybe even a few meme coins and that kind of stuff. And it's like stuff is down still 50, 60, 70, 80 % from the highs. And I'm not saying all of it is going to rally back. But what I am saying is, with Bitcoin approaching 120K, do you want to take a chance on something that's down 80 %? Or maybe some of the better stuff that's down. I'm not talking about scam stuff, obviously. It may not work out, but you may have this crazy move in some of this stuff. And I think that's generally what my view is.

31:47I was curious, in terms of your portfolio construction now, what do you own? how is it split percentage-wise are you mainly just bitcoin and eith um or are you starting to look at other stuff would you ever consider getting back into like the meme coin stuff or how you know what's your expression of trade for high beta if you're trying to outperform bitcoin how are you thinking about all that stuff in terms of portfolio construction well i just discovered another wall yesterday i forgot about that has 10 more me bits so i have 58 minutes um that i imagine your personal exposure to Rekt is also probably your highest exposure to anything.

32:26So for me, it's, yeah, obviously, Meabits, I love Meabits, and I love NFTs. So NFTs for me have been a good way to express Etherlungs. So punks, some cool art. I don't do meme coins myself. It's never been something that I'm good at. I play to my strengths, I think, where I can, or the little ones that I half and things that I can have an effect on. So for now, yeah, it's a core Bitcoin position that's been sitting there for a while. Actually, it's like a whole different wallet, never gets touch. It's just like sitting there, no temptation to do anything with it. And then at the beginning of the year, I was just looking actually, I continued to accumulate Ether at levels around here.

33:15It was a painful April, very, very painful April. But yeah, it just stuck it out. I think the long-term view is that Ether continues this rally and actually gets to even just a catch-up trade with Bitcoin will be great. But I think the narrative is so much stronger today than it was six months ago, let alone a year ago. And then the rest of the stuff, honestly, like I said, for me, NFTs kind of play that left part of the curve, of like tail risk part. I think, you know, there's only so many in a collection. And so those are like quite limited ones to become in demand. Uh, they're hard assets and there's an ability to like layer things on top, which is kind of like what you did with, with Rekt.

33:56Um, don't really have anything other than, you know, the required, uh, I call it the Ralph Powell friendship portfolio. So Solana sold a lot of that into SWE. And then just random things that I've picked up along the way through like airdrops or just, yeah, mostly like airdrops, like from farming DeFi on Solana and so on. And so I haven't sold them. We're doing a lot better in December than they're doing today. But I do think that liquidity wave that you described earlier is coming at some point. and I'll be looking to take profits at certain levels or at the end of the year. And a lot of those things that I've kind of just, I had like MATLABS, I got a bunch of tokens for those, that kind of thing.

34:41So it's mostly Bitcoin, Ether, and then a lot of entities. Yeah, yeah, that makes sense. What do you think on, or two questions actually. First is SWE, something we've spoken about a lot. Not really something that I think Manda and I i've ever really owned meaningful amounts of um i think at times we favored it but generally have preferred other stuff really um do you have any thoughts on that and it does really the question always seems to be like sweet versus soul and i almost kind of do prefer sweet versus soul here just because of all this you know soul unlocks and stuff that are coming and you know everyone knows about that big galaxy digital sale a few months ago and i think some of that stuff is unlocking soon as well.

35:26So Solana does feel like it has a lot of sell pressure. And actually, if you look at the price of it, it's still way down from all-time high. But if you look at the circulating market cap of it, it's very close to all-time highs. It's breached it a few times. So you really have to factor in the unlocks there, which I think people don't often do, and they're so focused on price. But do you have a view on SWE versus Sol? I know you just said that you sold a lot of soul for Suite. Is that something that you would maybe consider growing as part of your portfolio, bigger position? Or is it just the, hey, Raul, I actually own some Suite.

36:09I know that Raul's going to be a billionaire. I don't want to be left behind. No, for me, it's more for Suite specifically. I think the ecosystem's, I don't want to say maturing. It's just growing. They did a good job bringing over Klanosource, for example, to get kind of like the NFTs going on SWE. Definitely seeing them pop up a little bit more when it comes to conversations about what the next generation of blockchains is. We think of, okay, well, retail or normies or adjacent people are coming in. The whole low unit bias, I think, is very, very apparent. and so yeah if people compare it to it happens to Ripple right people compare a$160 Solana token to a$4 sweet token which one are they going to buy it's just a behavioral thing or a psychological thing they'll tend to go for the sweet so I'm keeping it don't have a ton of liquidity these days to be honest to be like buying stuff obviously rotating things involves calculating taxes and so on.

37:18And now that things are materially higher than they were a few months ago, obviously that's part of the calculus that you have to do. But yeah, no, I think I prefer it in the sense of if people are going to come in, it's going to ask like, what's the next something? And it has the right characteristics to be part of that story, kind of like be that next generation, you know, blockchain. And while most people don't care about performance and what's being built, hey, they look at something that's worth three bucks and they compare it to something that's worth $116 ,000 or$3 ,000 or$150 ,000 and they're like, yeah, I'd rather get a lot more of the$3 one.

37:59Yeah, that makes sense. Yeah, I agree with that. That makes sense. I still feel like I'd rather own ETH over SWE. I think. Same. It's a tough one. It's a tough one because, you know, if the whole old season theory works out, SWE will massively outperform ETH. Sure. But I feel like I can own ETH in more size and be comfy with it, I guess is what I'm trying to say. I've slept comfy with ETH for four and a half years. So I'm not comfy then. No, because it's a long-term view. Yeah. No, I hear you. Yeah. Right? Like if you bought Amazon at the top in like 99 or I don't even know if it's public yet or not, but like any of those companies, like the Googles of the world, it just had to wait a little bit and they worked out.

38:46And so the thesis has always been long-term. And narratives are great short-term, but I think the long-term thesis, for me, it's always been E. Granted, yeah, if you look at financial performance versus almost anything else in this space, that's not done well. But the other side of that token is that, okay, now that we got the narrative back, and now we're actually seeing meaningful progress. And now, to your point, right, when I was at Fireblocks, I was there for three years, and a lot of the conversations were stables and tokenization. They're pushing in that direction back in 21 and 22, but no meaningful institutions in the U.S., which is still the capital world when it comes to finance, would there take the risk, the legal risk, the compliance risk, or just the headline risk to go beyond a small test case or something like that.

39:38But now that that's been removed, then they are taking that. And so when I chat with my old colleagues from Fireblocks, they're busy and they're excited. And they're not dealing with the little people. They're dealing with the largest traditional institutions in the world. And so for me, that's a sign that that thesis that we had three or four years ago is actually playing out. And it's amazing. I mean, we had back then got to meet the Robin Hood team and they were already working on the stuff that you saw today. This was four years ago. So things like that, for me, I'm a little bit more longer term.

40:17And I think that favors ETH because it's a known known at the end of the day. You know what can do and what it can't do. And yeah, and it's just, I don't know, it feels like home. Yeah. Yeah, that makes sense. okay and then the other question I had actually was what do you think of NFTs here I don't know obviously you're going to be more constructive on it but I guess the some NFTs have been moving and have been doing very well X copy stuff has been doing very well high quality stuff has been doing very well even some PFP collections have been doing very well as well but we're nowhere near the dizzy heights of 2021 the one of the theories for nfts the main theories really is like once people have made their money in a crazy bull market they will buy their flex items which is like hey okay i just crushed it here's my x copy 101 that i'm gonna i'm now gonna buy here's my crazy rare punk that i'm not gonna buy um and maybe we're not quite there yet in terms of money having been made um do

41:27do you think we see a run towards the end of this move when people have made money and captured games? Or do you think we will never see the levels of 2021 and we'll never see that much focus, but we can start to perform on high quality stuff in a decent way? I think the levels of 2021, obviously they had a lot more things behind them. first of all you know there was just less supply nfts there was a lot more liquidity from stimulus and all that stuff i mean you're seeing it with real estate you're seeing with watches sneakers like overall those kinds of like extremely discretionary assets have really come off now when it comes specifically to nfts today and going forward i do think that we're gonna continue to see new buyers come in they're trickling in right now Now there's not a lot of new people.

42:21There hasn't been new people in three years. But to the point about like, oh, crypto is okay now or crypto is cool again. Well, you know, nobody really like bonds to like, oh, I am a ether guy or I mean, except for like the Bitcoin maxes. But like these new people, like, right. If you're going to come into SWE, for example, let's use that. What are you going to like buy a bunch of SWE and put it on your Twitter profile, like the logo? How are you really going to become kind of like a tribe member or a team member of that ecosystem? But if you buy one of those little Klanosaur thingies that they drop there, like, okay, that represents to the world and to yourself that you're part of TeamSuite.

43:01Same thing for Ether. I think that if you, depending on the level of wealth that you want to flex, either buy a punk for$125 ,000. I mean, I do think punks go to a million. I think punks are like Bitcoin, whole different story from like the rest of the market. But if you want to flex, for example, like a wrecked guy, like, hey, I love what they're doing. I love they have a brand coin. I love the art. I vibe with this style of like, just like, let's just go. Like we've gotten wrecked in the past. Let's just. And so that's where NFTs are not just like a flex of wealth, but also an ability to identify yourself with a larger online community, which is what this whole world population humanity is going.

43:42And that's really what the value lies. And now if you look at NFTs that have intrinsic value, where they come from a particular artist or group of artists or duo of artists like Larva Labs, for example, where like, okay, they recognize in the art world, there's the actual demand for them. And you see like a trajectory that could be really positive. The long-term that, yeah, you not only get that exposure today to the community and the community is not just being on Discord and like messing around. It's to like wear like a Spurs jersey, for example, right? Like I wear my San Antonio Spurs shirts all the time and now they have Ledger as a sponsor.

44:17I'm going to wear it even more and walk around and have other people like high five me when they like see me in New York with a Spurs jersey. That's what NFTs are to me. And I think over the longterm, that's where the value comes from. But yeah, I agree with you. Like, are we going to get just any random collection, mint out,$10 million, pump 100X? No. I mean, I hope so because I have a lot of NFTs, but I wouldn't bet on that specific part of 21. I would just bet on teams that I've been building or art pieces that have kind of become ingrained with the cannon to really continue to accrue that type of value for the long term.

44:53And people wanting to say, hey, I'm not flexing that I'm rich. I'm flexing that I'm part of this group. I'm flexing that I'm cheering for the Yankees and they just swept the Braves or whatever that might be. Yeah. Yeah, that makes sense. I see that. That makes sense. I'm still kind of like modestly bullish, like low-key bullish on it. So we'll see what happens. There's not a lot of them. Yeah, there's not a lot of good stuff, I think. Yeah, I was like, there's good stuff. There's 8 ,000 Penguins. There's probably like 3 ,000 Penguins. punks i mean how many punks are actually out there for sale not that many right so a thousand punks are for sale like yeah it's not a lot um there's small numbers which i think can get those things can escalate very quickly and i think they will do again at some point questions whether it happens this time or not but um yeah one to look out for i just i still find it very hard to allocate a meaningful amount of capital to it It should not be the majority of your portfolio.

46:02It should not. Just because of the risk or whatever. The liquidity is fragmented and it's bad. The bid offer spread. Even if you wanted to dump 10 bucks today, you would take a meaningful hit versus just selling a million dollars of Bitcoin, which would be the equivalent, if you wanted to get out. I think that's where the risk management framework that you have really comes into play yeah okay fair enough um okay cool um so uh let's move on to you know towards the end of the show let's bring on the arch public guys um we have uh ceo and co-founder ceo tim let me start again ceo tilman and co-founder andrew parish also known as ap abacus uh on twitter welcome back to the show guys um i know you have an announcement to to make about sui actually which we're just talking about but um i want to comment on the good performance again of the gut of your algo in what was until yesterday a very long period of a 100 to 110k chop which um it captured very well curious to hear you know how the how things are looking with this big move higher and how i guess it'd be maybe useful for viewers to know like how would like the typical recipe operate and this kind of move when you have this you know massive wick on on a candle high on bitcoin and it holds and then yeah you know please let us know about the the sweet stuff you have going on as well yeah the the point of the algorithm is to be disciplined and to to not get ahead of yourself so it's not looking at this move any different than any other move that is a qualified event.

47:49So if it moves up by the percentage that you have it programmed in to move up within the timeframe that you have it programmed, it's gonna execute that trade and it's gonna execute it with the capital allocation that you've told it to execute it with. So one of the great parts is, you don't have to try to time the tops. If you look at any blow off top to any market, you should have been 60 % exited before the top. You should have been exiting systematically on the big green candles all the way up. And that is a difficult thing to do when greed is in play and human emotion is in play. And conversely, it's very difficult to sell when you're deep in a loss because you keep convincing yourself that the position is going to come back.

48:37So This is a very strategic money management tool as much as it is a trading tool that allows you to dollar cost average, but in a very intelligent manner. It's timing the dips and being available to take advantage of those dips. So, you know, one of the things that we talk to our clients about is all of these, you know, thought leaders in our space, like Michael Saylor, who say things like, you know, the volatility of Bitcoin is a feature. It's not a liability. Well, you know, that doesn't mean anything to the normal person because they're not taking advantage of the volatility. They're not scalping that volatility.

49:17They're not able to leverage against share price into larger purchases with that volatility. There's not an upside for them. If you're sitting 100 % in Bitcoin with no cash on the side to buy the dips, the dips are a negative to you, right? And so psychologically, we need to change that. And software, like we've built, helps somebody train themselves in a way where they look at dips as a positive thing. because dips are, if you're looking at accumulating a position over time, that's where you should be accumulating. That is where you should be executing those trades. So it's been an exceptional run.

49:58We would anticipate if the price continues to pump, you know, price discovery often does lead to large increases in price. We would see multiple executed exits on those tops, and you would be cashing out of half of your position. If you have a two-to-one bull bias, for example, you'd be cashing out a half of those profits based upon where they entered and what that criteria is. So exciting times. It's always nice to have accumulated a lot of a position at a low price and then get to exit that position for profit. That's what you can do. And Tillman is very humble about what we're doing and the way that we're doing it.

50:42But just to give you an idea, in the April lows associated with tariffs, just our stock, both 24-hour and 6-hour ARB strategy on Bitcoin, bought Bitcoin at 76, 77, and 78. Right? So you grab significant stacks of a position at those lows. bought again at 83 and 88 and 91. And then just two weeks ago, when the United States bombed Iran, and in the middle of the night, essentially, you had a flush down under 100, bought again at 99, right? So algorithms are set up to remove emotion and just simply execute based on the rules that they've been given. So they don't know Iran exists. They just don't.

51:39They just see the price action and they act on that price action. I think last night there were several exits on the six hour associated with above 116. Right. So, again, there's there's no emotion. There's just math and whatever version of that math of that equation that you're either either using one of our stock setups or you've made the own adjustments yourself, as everybody can do with our tools. you're going to get those executions based on math. And, you know, we've got a couple of charts that can be pulled up now that take a look at over a 90 day period. And if I'm not mistaken, that looks like our Bitcoin chart.

52:26And you can see the little blue arrows are all of the entries. And we try to point this out on every show that we come on with you guys. those entries always come on big red to the downside candles and the exits always happen on green to the upside candles and Tillman if you can explain what that what that means for folks yeah well in a perfect world you want to be buying when everyone's selling and you want to be selling when everyone's buying and that's harder to do in practice because we're reactionary as people we wait until the price moves and then we react to it. Well, algos have a lot of advantage in the fact that they can do math very, very quickly and they can do it on a multitude of fronts.

53:15So as you start to see markets get exhausted on whatever timeframe you're measuring them on, you're able to exit on that exhaustion before the volume dries up. And so it's just an advantage that is inherent in trading automation versus trading manually that comes with every trade. And it seems like magic, but if you really think about it, when a candle starts to pump, if you're looking at a one-day candle like we're looking at right now, look at those large green candles. You can see the wick above the body. You can see exactly a correlated volume attached to it. So if you're sitting there looking at, OK, I'm in profit on positions that I took.

54:01If you look at all the blue candles, for example, at the beginning of April, you know, those are great times to harvest a little bit of cash yield based upon the volatility of Bitcoin and the volatility of any of the assets like SUI, which we're excited to announce today based upon popular demand, might I add, we've talked to several hundred of the listeners of this show that have requested we want to use the algos to harvest the volatility of SUI. Well, now you can. It's supported on Kraken. We've launched that integration as of last week. So reach out to one of our team members. We'll help you get set up on the free version and you can try it to your heart's content and see what we're talking about.

54:43But seeing is believing. And the best way to look at it is, is the market does not wait for you. It doesn't care who you are. It doesn't care what time you wake up. It doesn't care anything about you. The market just responds to the buy and sell the market order book that is currently being traded against. And if something happens in the middle of the night or when you're picking up your kids from school or when you're at your normal day job that presents an opportunity for you to buy a dip and you're not sitting at your computer, you cannot take advantage of that. Automation can, and it can do it according to what your preferences and what your desires are.

55:21So it's completely user driven. So to Andrew's point, even if you use this tool just to exit at better fill rates because you're exiting on green candles, which have a lot of buying volume attached to them, you would have a benefit to using it.

55:43Makes sense. it's um it feels like what you want to do and what i do is you want to have your like big long spot position on you know whatever it is bitcoin e-salt and then you want to have this and in addition to that to kind of get you through that chop period and stuff and basically i guess i'd view it as like a yield on you know you have that's kind of how i view it Yeah, it is. It's especially we've we've started to launch partnerships like, for example, with Directed IRA. They're plugged into Gemini and Kraken. You can trade your IRA account tax free. What's better than trading automation or day trading automation, might I add, and having a tax advantage to doing that?

56:31So the future of crypto and the 24 nature aspect of the markets and the fact that now automation is being integrated natively into these platforms, it just gives the consumer such an advantage. And like you said, it allows you to produce yield. We did a case study against the last 12 months if you had put$100 ,000 of Bitcoin to work and you had just let it sit with its stock settings. And the stock settings against$100 ,000 essentially look very similar to this. Every time the market drops by 2.1%, you're going to buy about$500 of Bitcoin. Every time the market goes up by 2.6%, you're going to sell about$250 of Bitcoin.

57:19So there's a two to one bull bias in the cash being deployed on the buys versus the sells. And what that does is, though, it allows over time, if the market's choppy, for you to get a lot of those sell tickets through the order books. And those sell tickets have half of your profit attached to that entry point, you know, being sold off into cash. And that produces cash if the market trends sideways and is volatile. And so what I try to explain to people is you're not really betting on the software working as much as you're betting on Bitcoin or SUI or XRP or whatever you're trading remaining volatile.

57:58If it remains volatile and it's moving the price back and forth, back and forth, up and down, you're going to be executing trades against that volatility. Yeah. Yeah, the people that, again, we talked to hundreds and hundreds of folks that wanted us to give them a SWI product. And we did. And just look at the chart, man. It's just gobbling up on the way down. They've read candles on the way down and then it's not going to exit, you know, almost on a head fake. It waits till it absolutely pops. And then again, it grabs near the top. Right. So if you're somebody that's using this software and you love SWE, if you were doing it on your own, And, you know, at some point in that cascade down, you're thinking, should I continue buying this or am I getting my face ripped off?

58:52What am I doing here? Right. And then on the on the way to the upside, again, it's human nature. I'm not selling anything, man. This thing's going to five dollars in the next 24 hours. And again, that's not true. Right. So neither of those things are true. and because, and both of you guys know this because you worked on trade desks. Across Wall Street, automation and the ability to use tools like that is ubiquitous. It's everywhere, right? It's literally everywhere. But in crypto, it's not. And this gives people the opportunity to not be basically tricked by their emotions at any given point, to the upside or to the downside.

59:38allows them to harvest volatility. We often get asked because we have versions of our algorithms that are considered yield versions of our algorithms. And people will ask, well, where does the yield come from? And that's a question that harkens back to the scams of the past. The yield comes from volatility, pure and simple. It's just volatility that gives you the opportunity to not only accumulate a position, but also to generate yield from that same position. Yeah, that makes sense. I see that. And then Tosui is through Kraken, is that correct? It is, yeah. Do you guys have plans to get some more exchanges on and that kind of stuff as well?

1:00:22We are currently about halfway through the integration with Coinbase, and we have some folks over there that have been using the software and they're really excited about it. Kraken's exceptionally excited. We're going to be doing a Canada-specific launch with them here shortly. So, yeah, we've got some great stuff in the works as it pertains to integration. I think that's the fun part of being in this space right now is the fact that we've got such regulatory clarity, if you will, that the integrations and the network connectivity and the network effect of the people in the business and the developers, it's going to be a bright future.

1:01:02It's going to be a lot of connective tissue. And what about perps? Have you guys thoughts about trying to get perps onto the offering as well? Because that would be pretty, I mean, there's tons of perps traders out there, like active day traders, and they could just all be made, you know, redundant. So that will be launched on Coinbase. And we're hoping to launch that at a very similar timing to it being offered in the US. So that we're waiting for that. to happen amazing sounds good well yeah so i'll rather do this than trade stocks on chain

1:01:38really great show by the way i i love listening to you you have a great perspective and a lot of insight i'm a big nft guy as well i think they have a lot of intrinsic value as as a network um and as a unique identifier of value intellectual property and uh i really enjoyed y 'all segment about that. I don't think most people aren't talking about it. Most people have kind of given up on it as an art project that failed. And they don't, they're throwing the baby out with the bathwater. I honestly, I told somebody the other day, I think it's the future of mascots for brands. I think if you go into like these thrift stores that are selling old Coca-Cola signs, I think NFTs and collectibles will be, you know, have a digital aspect to them in the future but same type of marketplace.

1:02:29I definitely see that. Cool. Well, that brings us to time. Remember, you guys can register for Arch Public's algorithmic trading platform for free. If you go over to realvision.com forward slash Arch, you'll see the information and the details there. Please, please, please do check it out because I think it's a very interesting product. Before we go, a quick question for you guys. Please let us know in the comments. What's your next price target on Bitcoin? answers only above 120k are allowed anything else you will get blocked um half joking on that um make sure you're following us on x um osf underscore ret sergito sergito and try arch public we'll be back next friday at the usual time 11 30 a.m eastern time 4 30 p.m british summertime i hope everyone has a great weekend it's a nice end to the week for us all um have Have a good one.

1:03:22And we'll see you guys next week. Hey, Real Vision viewers. A quick pause to introduce you to today's sponsor, Axelar. Axelar is building the rails for the next wave of global finance, not just crypto, but the future of how assets move, how markets connect, and how institutions plug into open systems. Think of it this way. Bitcoin brought digital gold. Ethereum brought smart contracts. But Axelar is bringing connectivity. The secure link between your favorite blockchain and traditional financial institutions, rushing to plug in. It's why top-tier firms like Dragonfly, Polychain, Coinbase Ventures, and Binance Labs are backing Axelar, and why global giants like Deutsche Bank, MasterCard, Apollo Global, and JP Morgan are already building on it.

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📣 Rekt co-founder OSF is joined by Sergio "Sergito" Silva, CEO of the Meebit Company, to discuss the biggest narratives and themes driving cryptocurrencies right now. On today's REKT Vision, they analyze what has driven bitcoin to an all-time high and altcoins to surge, Pump.fun's token launch, macro landscape, and more. Later in the show, they are joined by Andrew Parish and Tillman Holloway from Arch Public, following the addition of Sui algorithmic trading on Kraken. Check out their platform for free at realvision.com/arch

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