REKT Vision: Can Crypto Remain Stable Amidst The Stocks Rout? ft. OSF and Mando

0:00Join over 7 ,000 attendees on June 18th to 19th at Super AI Singapore, Asia's largest AI event. East will meet West as industry leaders converge for two unparalleled days exploring the exponential AI age. Join us to unveil the future of LLMs, the intersection of AI and crypto, robotics, drones, space tech, the societal and economic impact of generative AI, and much more. Get tickets at superai.com with promo code Real Vision for an exclusive 20 % off, only while tickets last. Hi, everyone. I'm Raoul Pal, the CEO and co-founder of Real Vision. Here at Real Vision, we're committed to give you the best knowledge, tools, and network to help you succeed in your financial future.

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1:00Well, we are back. real real vision uh rex vision it feels like uh i've aged a few uh a few years over the last few days but then i look at the price and we are back again at 83k um you could have fallen asleep for the last few weeks and still been at this level avoided all the drama up and down avoided the FOMO, avoided the fear. We are just back at 83k. How's your week been, OSF? Yeah, it's another one of those weeks where I feel like we've had extreme volatility. And I look at the weekly price action on Bitcoin since we did this last Friday, and it's down 4%. It's just exactly the same level.

1:48Apparently it's down 4%. I think we had a little bit of a rally last Friday, which carried on into the weekend, didn't it?

1:56how's my week? I don't know. I think I don't even really know what to say. I think

2:09Trump's cavalierness continues to surprise me. I still feel like this is not that big a deal and that I'm bullish and this is a good spot to buy. And just doing the same thing that I've been doing for what feels like an eternity now every time we get to lower levels on my buy list i buy a bit more and i'm thinking well should have started this buy program probably a couple of months later than i did but i guess that's why you dca and don't go all in in one go but um yeah they always say that i always like to use this term like when it feels the most horrific that's when you're supposed to be buying and let me tell you it feels pretty horrific now um and uh it doesn't feel great to be buying so i just hope that at some point in time that some of these buyers will come good and we've had it's weird we've had glimpses of like i had a moment like probably a week ago where a lot of my dcas were like well in the money by a good amount by 30 40 50 percent and now everything's like well out of the money again so it's just and this is by the way this is all altcoins it's not really even bitcoin obviously bitcoin has been in the narrow narrow range here but um yeah it does feel it does feel like that like uh this week you'd be forgiven for freaking out a little bit we've had a monstrous sell-off in the u.s stock market um fear and greed index for u.s stocks hit close to an all-time low i think it like four today um and obviously this is on the back of tariffs um and just this is on the back of before that worries about china and them catching up on some of the ai boom and it just wasn't a great period here for us stocks that being said crypto has just kind of outperformed the whole time at least bitcoin has bitcoin dominance gone up to 83 percent um obviously gold hit an all-time high or multiple time highs as well on the way up and bitcoin's just kind of been in that world where it's not quite following gold and it's not now not quite following stocks so uh it's just stayed where it is both of them are kind of tugging on the correlation um and it's just been basically in a straight line the tariff news though i agree with you that did that did shock me um i personally was not a fan of how those tariffs were enacted um i thought it was like the uh it's just kind of not what I thought was the initial sell.

4:36You know, we're going to go after reciprocal tariffs that seems to have been based around, you know, the trade deficits rather than tariffs themselves. And this now presents like a tough scenario, I think, for even in the negotiating table. What did you make of all the tariff headlines? Are you just looking through it and being like, you know, global liquidity is about to go higher? Or do you think this is the ability to take stocks down like 30 % to 40 % even from here? I don't think tariffs are that big a deal. Like, I think there's a lot of talking a big game here.

5:17There's a lot of posturing, I think. I think the market immediately assumes the worst case scenario. They see numbers like that and think, oh, this is really bad. All these are going to be implemented tomorrow and it's going to be horrific for the markets. It's kind of like the inverse of the whole Bitcoin reserve stuff when everyone's like, oh, it's going to get signed and they're going to start buying Bitcoin tomorrow. This is like the inverse of that. It's like, oh, these tariffs are horrific. It's going to happen tomorrow and we're all going to crash and we're going to fall into a recession like right now.

5:46I think it's the opposite. I think these things, we're now going to enter a period of negotiations with every single country on this list, a lot of back and forth. The reality is these aren't going to get implemented to 100 % of the value. It's not even really possible. I think the China retaliation today maybe throws a little bit of a spanner in the works, but it also maybe makes them realize they can't be this aggressive on stuff and they have to find some sort of middle ground. Again, if you look at what happened with tariffs in 2018, 2019, you had a lot of back and forth and eventually you got to a better spot by the end of it.

6:24Because I think it's just in every party's interest to come to resolution than to not come to resolution. And eventually you get there. So I think will we get a full resolution of everything? No. But I think from this point onwards, you will see progress. I think you can only really see progress from this point onwards. And I think it will take time for it to happen. But I'm not seeing it as like, oh my God, this is so bad because this is going to be terrific for global trade and we're all going to plunge into a recession because I just don't think Trump is that stupid or the people around him are that stupid to do that.

7:04I know a lot of people will disagree with me there. I think it's going to escalate from here, honestly. like i i don't share the view that some of these other countries necessarily feel like they have to um have to do a deal with the us i think some of them will also look to be more insular and that may even affect growth and but but that's also could be bullish for things like bitcoin that that's kind of my view i think china and the us could continue to escalate even this i think even with the EU, it could escalate as well. Hi, Raoul here. Listen, I think we've got until 2030 before the economic singularity arrives.

7:44Now, it might not be the exact date, but it's around then. So we have about six years to figure out how to unfuck our future. I've put together a report to help you called Prepare for 2030. It's going to help you take the first steps in that journey to make sure you're secure past 2030. So just click on the link below and start your journey now. I don't think it will I don't think it will Escalate like The same It was the same thing You know Seven or eight years ago And It just de-escalate Like it would escalate And then it would Immediately de-escalate And then it would escalate And then it would de-escalate And I think we're at the point Where we've had this Escalation And I think from here The next move is it de-escalates I don't think it Gets worse From here Yeah Like I said I continue to think That it will probably My view is that it will escalate I think this is the This is the first move And then you're going to see The retaliation from the countries and then you'll maybe see another round of retaliation and yeah everyone will dig in and maybe it's months down the line that you start to see that resolution but i do think that at least even in the short term this can get even worse than it has in terms of like headline figures for tariffs and maybe then maybe then that that provides the solution in in a few months but i also just think the motives here are slightly different like the world is different than four years ago like the the global um you know the globalists their power has kind of fallen away largely a lot of different countries and a lot of countries have looked a lot more insular so um i think that this this could be a bit of an upending of global trade and it can and it can lead to um a sustained worry here at least for the stock market that being said like i think this will now lead to massive money printing uh particularly uh in places like china the only way china can really deal with this in my opinion is to announce massive domestic stimulus and i think that could happen in a range different countries as well like we're not going to do a deal with us but we're going to do a massive stimulus plan for like china first you know what i mean and i think that leads to massive money printing globally that's that's kind of how i think it plays out which is still a more bullish scenario that's having like bitcoin but maybe not that bullish for global stocks like um particularly for some of the ones that make up you know the fortune 500 of which rely on global supply chains and you know decades of of built up um multinational organizations i think those could actually still be under some worry for a little bit here the funny thing to what you just said with regard to money printing um which i would have agreed with and that was kind of like one of my main things i still do agree with but i think powell is giving a speech right now and his comments as of a few minutes ago were um fed chair jerome powell says he expects president trump's tariffs to raise inflation and lower growth indicated that the central bank won't move an interest rate until they have greater clarity so i think sort of and true though they're like sorry just very clear i don't think that power can reduce rates here you're going to see massive potential inflation in the u.s but the rest of the world yeah the rest of the world can print a lot and that's where i think the majority of this stimulus is going to come from i don't think power can can can cut rates here i really don't like Like he's up against the wall here.

11:18You're going to see, you can't see this much inflation potentially and that not, you know, then go to cut rates. They may do money printing by another way where they say, hey, we're going to recapitalize the banks. But the idea that they'll buy assets, I find, or reduce interest rates, they can't cut interest rates. And that's... They can't cut interest rates in this world, but they may do money printing by another way just to sure up the financial system. Those comments from Powell follow a Trump tweet a few minutes ago as well, saying this would be a perfect time for Fed Chairman Jerome Powell to cut interest rates.

11:56He's always late. He's always late to cut interest rates. So it's just back to that. I think, again, this is once again a repeat of 2018 when Trump was doing the same thing. He was like, cut rates, cut rates, cut rates. And eventually they did, but that was maybe a slightly different story because they just, you know, the Fed completely pivoted on their view on inflation and they had the right view then. Can I, like, without getting overly political, like, do you think this is an economically sound thing to have done? I'm a little bit, I'm a little bit, because, for example, we would go down how this list was done, this tariff list.

12:36It wasn't done on tariffs to that country, right? Like, it's not like EU does have a common import tariff of ranging on goods up to i think high teens japan has high has high tariffs um india for example has high tariffs yet those countries did get some tariffs but it was all it was the ones because it was based on trade deficit you had countries like vietnam which has like a three to five percent tariff getting tax uh getting a 45 tariff put on them um I don't know how Vietnam can fix that. Do you know what? They can't come to the negotiating table with Trump and be like, hey, we're going to drop our tariffs because that's not what the calculation was.

13:18It was just whoever's got a trade deficit. That's why I find also that the actual room for negotiation here for a lot of the countries that are most effective, they can't even do anything. And that's made most ridiculousness with the tariffs on these places with no people. like it's not like that country has 100 tariff against the u.s it's just got a negative trade balance so i don't know like you and then to then come out and say pal's got to drop interest rates like this is going to raise the cost of living i think in the u.s extraordinarily

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14:54That's a very go through right it's if they actually implement yeah so i'm of the view that this does continue to escalate so like i guess your view is that this deal i think it's a bluff i just think it's a bluff and i'm not by the way like i'm not a political expert i'm not an expert on trade i'm not an expert on tariffs i'm not an expert on human psychology but if i'm just looking at this as a couch speculator i just think it's all one big bluff and i think it's all one big opportunity to kitchen sink as much as possible, knowing that when you just forget about this whole tariff mess, things are generally in a good spot.

15:34And it just takes him one retraction, which can be covered up and dressed up in a nice way, which doesn't look like he's standing down to send everything back up again very quickly. And you know how quickly people will be to put him into risk if they think this blows over. So I just think it's like, okay, what can we get away with? Let's start here. and we end up here, even if we were there to begin with. Because if we started there, we wouldn't even make any progress. And that's what I think is happening. So again, I just say that from just guessing. I'm just guessing. I don't know. I think the two variables there is, if it's a bluff, when does he call it?

16:14Does he call it in a week or does he call it in six months, 12 months? Secondly, this is slightly different than the first time he did tariffs, which was largely against China. That was the only real battle here. He's actually started a tariff battle with every single country in the world at the same time. So even if you think Trump is some amazing negotiator, which obviously he has been very, very good, and his brickmanship is kind of known, this is a difficult negotiating table. He's not even just gone after China, for example. he's got like australia and the uk both have trade surpluses and and uh against the us and he's put a 10 tariff on them but now what i didn't really agree with what you're saying there though is a lot of this at least for crypto right now has been priced in and i do not see a world now where we do not see stimulus from either it gets walked back into bluff or you see massive money printing to help shore up domestic industries you know um you kind of saw a little bit of this already like with and this was with military with the eu like we're gonna have to spend all this money on on uh you know creating arms now very similarly i think you'll see policies domestic first policies coming out where we aim to boost domestic industries coming out of china japan and europe and to be honest the other way to pay for that is with money printing like these countries are already over have too too much debt and i don't see a world where china can can strap on you know another trillion dollars of debt without massive money printing at the same time so i think we're going to see that's that is kind of where i see over the next week we we see a china comes out with hey yeah if you do more tariff you'll do more tariff but we're also going to do a big stimulus and maybe the same japan i don't know if the uk will do it but like i can see a lot of countries going down that route that can and whether that is a you know that leads to inflation or not or whether that's seen as like a hail mary i think that's good for bitcoin and and can drag up crypto so i've been buying a lot of bitcoin today as i as i told you because i think that's how this plays out yeah it's hard to i mean i think you're probably not the only person with that view on bitcoin which is why we're seeing its outperformance kind of reminds me of when the um what was that bank that went uh yeah so silver public no it was um silver something yeah silver gate silver gates at silver gate i don't remember the crypto banks that went and then crypto banks yeah and then bitcoin sold off for like a moment and then it was just like turbo bid for forever after that and it feels similar because it's and again like it's just another one of those things where like it's a quality that's very specific to bitcoin and not really anything else in crypto um where both outcomes are somewhat positive for bitcoin um yeah but the only difference is this time i don't think the stimulus is going to come from the u.s yeah um it's it's going to come from other it's going to come from other countries printing money i think and you play out the second order impacts of that um i think it's it's good for bitcoin for the dollar it really depends right obviously other countries printing would lead to inflation but at the same time maybe this is a slight removal of dollar dollar power in trade so like uh it's it's difficult to work out but most scenarios there i think it's bullet for bitcoin so i think uh i think that's going to happen i don't know if that drags up the rest of crypto with it at the moment bitcoin dominance is again pushed pushed higher for like say three percent but it is difficult to work out like that was my next question it was like what do you because for me i've been i haven't really been adding much bitcoin just because it hasn't gone much lower um from and i think i last bought some when it would like 78k or whatever and we just haven't been anywhere near that since then but a lot altcoins keep leading like bitcoin dominance keep going higher altcoins keep leading um i've been focused on buying the ai stuff to me and this is like highly risky because some of the stuff may never come back and who really knows but just looking at some of the stuff it's like okay all these coins are down 99 % and I know there's other people alongside me buying it some institutions and stuff so in a world where you have a you can have two types of bitcoin rallies like a bearish bitcoin rally which is maybe what we're bearish bitcoin strength which is maybe what we're seeing now or like bullish bitcoin strength which is when the market is risk on and bitcoin gets higher and I think in the second scenario when you start to have like bullish bitcoin strength and which is a general rally in risk assets i find it really hard to see some of this other stuff doesn't come back and just these levels are just your upside downside is pretty juicy and yes you may just be sitting in some of the stuff where it keeps losing five percent every week on average or something like that or it keeps drifting low it doesn't move for a while but when this stuff moves it just snaps up so aggressively that you don't have the chance you know you can't really say i'm gonna wait to wait for things to best to be better to get in because it moves so fast and so quick you'll end up buying the stuff two or three x higher than where it is now if you want to get in there and so for me it's like this is obviously like a a higher end of the risk spectrum but it's just i don't know do you not feel like throwing some darts at a shit that's down 90 plus percent on the potential that maybe some of this stuff de-escalates um maybe see some money printing across the world even if it's not in the us and maybe at some point in the next six months you do have a risk asset rebound where i think some of this stuff is just going to gap up can just gap up very aggressively from the levels where it is now also volumes are very thin you know stuff drifts a lot lower on not much trading volume it just seems like to me a good buying opportunity but you know it's more of maybe it's more of a gamble than like a trade or an investment but for me i kind of like the yeah the scoreboard to buy this stuff it feels like to me back in like 2023 when stuff was down here i'm just thinking the right thing that's the hard part yeah like on balance i do think that that you can see stuff bounce just because their debt is down so much.

23:15It's one of these scenarios where I actually think stocks could continue to go a little bit lower though. When we've seen stocks go lower and the times of Bitcoin has rallied during there, it doesn't necessarily drag altcoins up with it. But I do think that positioning is very light suddenly right now. I've told you I've been in Sonic a little bit. So I took off parts of the Delta Neutral bits there and just like left some of those more risk on um that's the issue the issue is is that if you look at like activity and all these l1s it it's not really ticking higher so you're really just after a beta play here it's not like everyone's coming in to do stuff on them and then And so I've kind of gone the best like TVL activity to market cap ratio.

24:13And Sonic always comes up pretty high on that. So like I've looked at that. I did buy a little bit of Solana today, but I don't know. Like it's not like I don't think it's like some super risky trade or anything like that. But I just I think the one I sleep at night rather just don't even mention it. to me don't even mention it to me man like i'm not doing this again um i i think bitcoin's just more obvious trade we'll just keep on going hard like i don't every time we do this show bitcoin goes higher and eth goes lower uh it's like another week um but yeah i bought some sonic which i've been pretty um vocal that you know there's been some interesting stuff there and it's gone over a billion tvl so that that one's been interesting to me and um and i bought a little bit of solana today but solana has felt terrible right solana has really felt terrible over this period maybe that's a good thing but i i think solana definitely relies on activity so i feel like solana is more like a bounce trade for me rather than something i'm just gonna hold for a while yeah i yeah that makes sense i i've thought a lot about eth in the past week i know we spoke about this last time but let's move on we're not like every show like every show from every single commentator in crypto has had probably had this theme for every week for the last eight two three years oh it looks cheap here yeah you know it's starting to look undervalued versus bitcoin

25:56anyway but yes let's let's talk about eve uh why is it such a good trade this week no yeah it's just it's just tempting like i don't for no other reason than it's at a price of 1780 or whatever it is like it's like almost the lowest it's ever been since i've been in crypto i know we had that moment where it went to three digits. ETH's market cap is 217 billion still. Solana's market cap is 60.

26:29Which one would you rather write?

26:35It's a tough one, that. I've liked Solana, but I think a lot of the Solana activity has been predicated on meme coin stuff, at least from an attention standpoint, if not necessarily numbers. but also numbers. So whether that continues or not, I don't know. I don't know whether that continues or not. Or Sonic at one and a half.

27:03Things are always tempting, you know? Yeah, I'm not that big a fan of Sonic because I think when you have an event like a big airdrop that everyone knows about and everyone is playing for, it never really works out if that makes sense unless it's something that everyone ignores but everyone's talking about it so I did a bit of had a bit of activity in Sonic I brought some meme coins in Sonic then I lost liquidated them today at a 95 % loss that's not even an exaggeration but it's not been easy in the meme coin streets but no I think there's a we had this conversation a few months maybe 12 months ago do you remember or two years ago maybe now and i was like there's nothing going on on these blockchains block space there's way more block space than there is actually people doing doing them solana at the time was trading at like 12 and eth was trading at i think 2k or something like that or 1.8 and i was like i think solana's going to continue to outperform there's a world here where like i think you see a compression there in a low cap blockchain which is like got a lot of market cap and a lot of activity you know can catch up um quite easily like it's it's because there isn't that much going on now right now um but anyway that's my view right now is to own bitcoin as i've said but i think that's the one that that will benefit the most from global money printing i'd still be wary of altcoins in a world where um even with money printing just because i think stocks can go at least us stocks can go quite a bit lower and i i don't know if altcoins go higher in that world basically my view is 100 you should have like a majority allocation to bitcoin that feels like the most obvious trade but i think it's worth taking a punt on some riskier stuff that is down 99 i think here we go what are you buying then um i think potentially some meme coins are interesting like i would say larger cap ones that'll be intercycle it's the first time i felt that way in a long time um i still think the entire ai sector will have another run at some point this year I think that stuff is really exciting interesting levels because that's that stuff is really really down like literally not an exaggeration it's down like 95 % like there's a lot of stuff that's down there and I think some of the other L1s like I would look at Sol, I would look at Sui I'd even look at ETH as I've mentioned I just think all of it I think it's going to be hard to know.

30:00Some of the stuff may never come back, but within that mixture of what I just said, there's going to be some of those things that will be like three to 10x trades in there and potentially even more if some of the riskiest stuff hits. And I just want to repeat, it is taking a punt. It is a gamble. I'm not saying this is a really good investment. We should all do this and we're going to make money out of it. But I don't really view myself as trading or investing in crypto. I view myself as gambling and speculating in crypto. And for me, I feel like that's worth a gamble. Like I think this, for me, I feel like this is, this is a sort of gamble that I would take that I've made money on in the past where you buy things when no one else is buying them.

30:45You have to sit there. You have to be patient. You have to have some level of conviction. Like I really do believe the ISF will come back and that's my conviction, which is somewhat, feels somewhat contrarian right now. and then you just sort of have to sit there and be patient and you know if you lose money you lose money you write it off just like how if you bet on a match you and you lose money it's gone like that's how i view it so um but you know as a thing what you're saying does make sense i mean the only things that are green on my trading view kind of in global markets today fart coin yep yep spx doge um large cat memes are doing better today that is true and there is that there maybe there is a world where you know memes and bitcoin again outperform like we saw at the start of last year you know um i can see that i could see that but but at the same time like I don't know.

31:49Yeah, maybe. You've got to risk it for the biscuit. You can't just come. That's what we've come full circle, guys. I think I'm banging the table. We can't just sit here every week and say, I don't know. I don't know. I think we've just got to. I've just told you I'm risk on today, but I've been buying Bitcoin and L1s. I have not looked at the memes, and the memes are actually outperforming today, which is kind of funny. so maybe now is the day to buy you know i'm gonna buy i'm gonna buy some fart coin why not you've convinced me osf i'll have a look this is the day um the global leading indicator of all markets is fart coin it sold off first before the uh global market sold off and and now it's looking a little bit strong so maybe this is the leading indicator of all markets globally um just yeah just again like i think it's worth a punt this is i'm buying some right now because you're kind of convincing me to this is this is the same this reminds me of the fa cup final last year where is that man that's what this is is it when i'm a united fan it was the odds on man united to beat man city were 10 to 1 and i was well, I don't know if they're going to win or not, but that's just, for a two-horse race, those odds seem way off.

33:1010-1? It was literally 10-1. And I think I put it on like 500 quid or something. Yeah, before the match. Yeah, it was 10-1 for them to win within 90 minutes. Wow. Those are wild odds. Yeah. And this is when United were terrible and City were just like the best team in the world. Only about a year ago. And I also went to Wembley to watch the match and got my tickets paid for and some more. But it feels like that. For anyone who's going out there and putting all their money into meme coins right now, I'm just reiterating that's my commentary and that's similar to that. I feel like that's worth a bet, but bets don't necessarily make you money, actually.

33:55Well, often they're not losing money, but I think it's worth a bet. Okay, well, I've made a bet. I've just done some. So no financial advice, but this is the real-time analysis you get on this show. We've piggited mid-show from being Bitcoin maxis for six weeks to now saying now might not be a bad time to buy Fartcoin again. So that is done. Fartcoin is an interesting one because it's at a$456 million market cap, and I would have had that as much lower. a little bit you know like it stayed remember when pepe did that very similar sort of move and then just went sideways and stayed in this range for a long time if i call it's up 80 in one month yeah that's a material outperformance of hot air rises man cross global risk assets and i think it hit a high of what 2.7 billion dollars or something yeah right well let's see how wrecked we are next week uh with that um what do you think about i mean i guess we have quite different views about what's going to happen here to global markets don't we it sounds like you're of the view that this de-escalates i'm of the view that this can escalate but isn't necessarily that bad for rest of world stocks slash um crypto that's i think that's where our main divergence is right yeah i think we seem to have a similar outcome for prices but maybe a different path to get there it sounds like but just think i'm just going by history which i think is escalation de-escalation escalation de-escalation and even in the context of this year you've been paid to take the other side of every escalation and also take the other side of every de-escalation and i think it's going to continue to be the same um until we get to a point where that that band sort of starts to narrow and it gets consolidates and then hopefully we get to a better point but that's what i think would you rather buy the nasdaq or the hang saying right now hang saying i think just based on your comments of yeah that's the thing i think i don't mind buying stocks and i think i just i just think china is gonna pop the hell out of this right now yes i think so i'd still rather go rest of world which is kind of crazy because that's been a graveyard trade for a long long time but and it's not necessarily a reflection of maybe even the economics behind it you know china we've been you know it's very well known they have of big population issues and the real estate market's a disaster but do you think i gotta pump it here um yeah but i mean those have been the big moves do you buy blood on some of these tech stocks you interested i think so like tesla yeah and nvidia the other thing i really got hit was anything with a global supply chain which is just like everything uh like nike was down I don't know how much it's down again today but I'm sure it's down a ton any of those?

37:15do you think those ones are still not a buy Nike's up today I do think some of that big tech stuff is worth a stab as well they're off a lot they're down quite a lot I don't think any of the stuff is going away I don't think the AI narrative is slowing down at any time you just saw open AI close a huge raise backed by SoftBank. You've seen the developments of that in the last two weeks. The entire world is still talking about AI and you're still seeing rapid, rapid development there. I really don't think that is slowing down any time and it's not too dissimilar to how we had just multi-year growth in dot-com stocks, even after the dot-com bubble burst and the same thing for tech stocks like the FAANGs, etc in in the mid 2000s i think we're just going to have a multi-year ai boom i wouldn't even call it a bubble like i think it's a genuine boom and dips are for buying on those stocks i think dips are for buying on stuff like nvidia um yeah i don't i don't think i'm not worried about this trump trade stuff so you think the i think the only worry for that is like in dot com era some of the initial winners were not continued winners.

38:38I agree that NVIDIA is maybe far more central. Yeah. I think this is just different. I say.com because it's just a similar tech related thing. But like at the end of the day, like for the.com bubble, you had crazy valuations on things that did nothing. Kind of like crypto.

38:58But I think for the AI stuff, there is like, it's a genuine massive efficiency improvement across multiple different sectors across the world. I can't go throughout my day without using some sorts of AI now. My circuit board trip today, I'm just there taking pictures on ChatGPT, figuring out how to isolate the RCD and figuring out how to isolate where it is and just do it all myself. Without even needing to call an electrician. And it's like, yeah that stuff is pretty I don't know if you should be doing that man it's all good don't worry I'm going to settle down a little bit just been clicking some cables it's fine

39:43the man you really always wanted to be now I think that stuff is very different to.com where it is very game changing for the whole world and these things are making cash flows they're all making massive cash flows like yeah i i'm fully with you and i think everyone kind of is the ai is just a huge huge tailwind for the world but um well at least if the safety stuff is is also um kept kept under control but it's just difficult sometimes with these stocks i think what we've now seen is that sometimes the valuations um you know they can get caught up very quickly uh with ai like because ai is able to replicate stuff so quickly interestingly we did see open ai come out with just a ginormous funding round right like came out with value 300 billion i thought that was a good sign classic yeah but it's a good sign yes i think softbank must be no disrespect to softbank but one of the greatest top blasters ever to have lived really they're always about three months four months late and just tripled the valuation um oh he's also he's called some incredible stocks throughout the time there is something to be said about blasting you know uh there is there is yeah great friend um right i think uh should we bring on uh team arch public to uh yeah let's talk about these and chat about how the algo killed it once again which i've had up and running um i was chatting to the guys before the show actually and and so i had a buy on bitcoin at around 81k or something like that and a couple days ago when everything it was right when um trump started speaking on liberation day and i think bitcoin rallied to 88 almost almost 89k and my bitcoin sold and i was like oh damn i don't want to sell out there because liberation day is great and we're gonna go back to 100k and then um lo and behold it drops uh drops like five percent within the hour and i was grateful for that sale So, yeah, a great show, by the way, so far, I find myself in the same boat that you guys are in where I'm questioning, do I get back into some of these 95 percent down meme coins and, you know, having those same debates with myself.

42:22I will say this, there's something unique and new about this cycle that Bitcoin has so many different ways to play it. The chop that's now being presented to us is a heck of an opportunity to, you know, that volatility is valuable. And so we that's one of the things that we love is when Bitcoin is bouncing around within a tight range, especially against other assets that are more volatile. It's kind of like if you if you I ask myself this, if the trade goes against me, what do I want to end up holding in that case? And Bitcoin is that answer for me, like you guys have said. And so playing the chop through kind of an arbitrage strategy has proven to be very effective for us.

43:09And the tool that we've created allows you to play those choppy moments to perfection. Right. It's it's always exiting when there's liquidity because it exits on green candles and it enters on red candles. And so it plays a way where you can take advantage of these moments where the volatility is moving up and down with significant variance and capture profits in those time periods and remain to your convictions as it pertains to holding something that you really believe in, like Bitcoin versus chasing that yield or chasing that potential in things that if you do get stuck with them and they don't ever recover, it's kind of, you know, it's a lost cause at that point.

43:55So, yeah, we've been really loving the action of the arbitrage strategy. And like I said, if you want to tighten the range during really, really tight, you know, periods, you can absolutely customize it and say, I want the range to be 2.1 % or 1.5 % or whatever you want it to be. can i can i ask um during this down move obviously in the other uh ethan soul which i know you you guys have a have a program for as well like how how is it performed because this is the sort of time i think we were just saying like maybe you do move into a more risky thing um it has that been more of a obviously they've been in like down trends have they still made money are they really just like out before yeah so just yesterday there was a soul entry at nearly 117 So you got an entry into Solana underneath where it is right now.

44:50So the profitability has been generally even better in more volatile assets. So Solana has additional volatility. So if you take the arbitrage associated with Solana, you're getting more action, more yield, and then more to the upside associated with those assets. In fact, we put out a case study just late yesterday that's on our website in the support underneath the support tab that takes a look at using these three algorithms all at the same time, which, again, are all free. Solana arbitrage, Bitcoin arbitrage, and then Bitcoin accumulation using all of those at the same time generated over the last two years of 53 plus percent CAGR.