Bitcoin, Polkadot, Crypto Market Update, Meme Stocks/Tokens, Axie, PhantomWallet USDT + more
This is the usual 10 10 minute saturday morning, segment, where i just blitzed through a whole bunch of relative news, relevant news, i should say math money, freedom and, of course, edutainment lets. Go lets look at the market. So, despite the week, we have had lots of great sniping opportunities we can see. Cardano is on the move, big dark, green, so well done everybody. Some of the other counterparts of cardano are a little bit weak right now, but theyre all on the cusp of turning green and remember yesterday, i said a funny feeling its going to be a good weekend. I expect some fireworks. I expect some money to come in and a big pump, so that is just my gut feeling. All the signs i see in the tea leaves so its exciting. So lets talk about this one jack mullers. He is a real bowler. He knows his stuff, the guy behind strike, the guy behind making twitter bitcoin compatible and el salvador and everything else. This kid is something else, but he believes we could see a 400 000 bitcoin in 2022 and remember this guy talks to everybody. He has got the inside line. He sees adoption, he sees traction a lot of good data, so the question i have everybodys always talking about oh im, going to get ready to sell in december and get out, but just think about this. What happens if bitcoin does go to 400 000 and you sell it 100.
, so just food for thought not telling anybody to buy or sell or not sell or anything else. Another really cool news. Can you imagine going to university and setting up your own mining rigs and mining your own bitcoin in class? What could be more, exciting wow? I wish i could have done this when i was in school 30, something plus years ago, but anyway, what a great idea and a big thank you as well to cynthia loomis one of our cool politicians here in the us very forward, thinking from a state wyoming That needs a lot of industry and they are embracing crypto in a big way. They are chartering banks now theyre teaching, kids, how to mine bitcoin in school and so much other good stuff. So we need more of this in the world. So lets talk a little bit about the economist. This is a 160 year old magazine and its one of the best journals out there, but basically this is an article that is just released and a big. Thank you as well to sanjay for kicking this. My way uh, why is it wise to add bitcoin to an investment portfolio, it literally hot off the press just came out minutes ago, and basically, they say all of a sudden that bitcoin is an uncorrelated asset, especially since 2018, which means it moves independently of other Assets so it doesnt move up or down with the stock market that people believe it moves in its own direction, its also not correlated to bonds, its not correlated to real estate.
Although kathy wood believes it is correlation real estate, so this is where theyre a little bit different. But the range of correlation is extremely small like 0.2 and they believe everybody should have at least one to five percent allocation of bitcoin in their portfolio, because it is an excellent source of diversification and hedging and everything else so well done economist um and for them To come out and say that its quite impressive lets talk a little bit about polka dot, uh, just a quick update. These guys are making moves, their power chains are coming soon and they have an ecosystem that is building out very rapidly and on par with some of the capabilities that ethereum has everything from stable coins, credit markets, amms oracles, synthetic assets, asset management, smart contract execution, you Name it they are making huge investments, and i get a lot of questions uh from people like when is polka dot, gon na move, what is my year end, target, etc, etc. So here we are decide to kill 100 birds with one stone. I am still very, very bullish on polka dot. My this i put this together at the end of april. In my should i buy polka dot video, the numbers that were in that video are still relevant today. So i have my dot to eth pricing model and i still believe well see a 94 to 99 98 dollar price prediction by the end of 2021 or at the end of this bull run.
However long it goes 2022 up to 122. and 2025 up to 300 bucks, so yeah, again, polka dot is a very good asset to have. It has gone up quite a bit lately, but i think its got a lot more room to run and the development is fantastic. Remember, gavin, the guy behind polka dot was the guy who created the first white paper and code for ethereum. So knows the stuff. Now a little mention of gaming, as you know, im trying to ramp up my gaming knowledge, but i thought this was an interesting statistic and not only good for ethereum but also axi, and really just to show how fast this whole space is going. Um axi has made more than fortnite from epic games, which is one of the biggest games of all time over the last 12 months. Think about that a blockchain game has just crushed the existing traditional gaming world and not to mention the two billion dollars in nft sold on axi. This is just an example of how this whole metaphor. This world is exploding, and i think the market cap of fortnite is about 30 billion dollars, so it is or the markup of epic games and their key treasure is fortnite is about 30 billion, so this is just staggering and well be digging more into this whole Space as we go forward and in terms of a new wallet, this is one ive been playing with and experimenting with, and i must say i am blown away.
Ive been a metamask user for quite some time, and i started using the phantom wallet and had a quick look at the comparisons between phantom wallet and metamask. Obviously phantom is the solana take on metamask, but if you dont have a good wallet, it can make or break a chain, and literally i find phantom so easy to use the user experience is fantastic and its simple easy. You can do all sorts of stuff with it. You can tie it into multiple hardware. Wallets, you can stake on it. You can operate, you can do token swaps, nfts, collectibles, etc. Theres all sorts of ledger support, web3 support um, so its just interesting to look at. If you guys are interested in these types of hot wallets check it out its a fun to play with, and finally not finally, but usdt has been selling off against the one. This was to be expected. The actual discount of usdt compared to the one compared to the us dollar, is like one and a half to two percent right now and a negative premium, and this shows you exactly whats going on right now. That means the clamp down on crypto trading and investing in china has put downward pressure on the usdt. People are basically cashing in their chips getting out of the market, so you can see that in the usdt data. Another thing to look at when you can look at tether is tether. Tanki were not sure, but if you look at the number of active addresses the seven day, moving average it just reached in a year and a half low of about 4.
3 million, so its definitely becoming less popular people are definitely using usdt less, which tells me the Smart money maybe thinks theres some risk of holding usdt so be careful out there. If you do hold any of this evergrande as well um the elephant in the room as we call it, they did not pay their 85 million dollars in coupon payments thursday. Two days ago, so basically, a lot of people said: oh yeah, theyre going to pay and theyre going to get funded and theyre going to be bailed out et cetera. That has not happened yet, which means it is still a little bit of a risk. We are not out of the woods as ive been saying, may not be that bad. The stock markets in the u.s and the crypto markets have kind of shaken it off. So its not a big issue. So far, it did bring us down that five percent pretty quickly didnt get us to ten percent that i thought maybe could happen didnt, but that just shows you how much money there is in the system, but remember lets, keep an eye on this and make sure Everything is okay, going forward and one thing for those uh new investors. I think its very, very important to share share this and ive always called. Let me zoom out for a second ive, always called investing and trading a blood sport, its you against the counterpart and you dont know who that is but odds are.
They are a hedge fund theyre, a professional trader. They are an automated bot or something else. So please, when you are investing, try, imagine who is on the other side. So this is an interesting one, so the big short michael bury was subpoenaed over gamestop trading. So again, this is a warning to people that are these diamond hands, people the whole diamond hands. Meme is there to manipulate you to say: okay, everybody buy your gamestop and never let go dont, be spinach, hands, be diamond hands or buy your doge, etc. Dont ever let go. The problem is this: let me share. The next slide is getting overly protective. So if you look at gamestop and the bottom yellow box here on, the left is where michael berry bought. Basically, i think was low 50s low 40s, something like that and he sold right at the top above 400 and whats been happening ever since. All the people that bought all the way up to 400 are still holding because they know its going back to 400. But if you look at this chart its not so again, youre going up against the michael berries of the world when you trade dont, be fooled. Be smart because the future, like the fundamental value of gamestop, is about ten dollars its trading at whatever it is now 100, something 200 whatever. But the point is the future is clear. I dont know if its gon na take a week a month a year, two years, thats, where its going, and that is fundamental business.
Its gravity lets suck it back down and what i thought was an interesting parallel as well for those people who love dogecoin. If you look at the parallels between the movements of gamestop and doge, they actually move in sync. They are highly correlated unlike bitcoin, which is uncorrelated, so thats kind of the big message and lesson for today here so be careful everybody when you play with this stuff, because its extremely dangerous meme stocks, meme tokens, buy real real stuff thats, it everybody very quick one. As usual, i hope you like the content, big, thank you to everybody out there, thats uh before we wrap up a quick look at the market. Again, everything is kind of up and down and all over the place, but very consistent, very flat everythings hovering around waiting for that pounce.