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Wonky Weekly Alpha - Run it Back Turbo
Recorded: June 6, 2025 Duration: 0:56:49Space Recording
Short Summary
Crypto enthusiasts are buzzing with optimism as market trends indicate a potential alt season following Bitcoin's recent performance. Discussions highlight the transformative impact of NFTs, strategic partnerships like Circle's IPO, and the evolving dynamics of crypto communities, all pointing towards significant growth opportunities in the coming months.
Full Transcription
Thank you. GM. Give me just a minute, guys.
Getting everything set up real quick.
I'm slow as always, so
we'll be good to go here
in just a minute.
Good to be back, though. Another Friday, time for another space.
Finally back from all the trips and everything else.
So hopefully should be a little bit more consistent.
At the same time, too, the market's starting to finally turn on a little bit, too.
The dip yesterday and the dip the past week or so, I get it.
A lot of alts bled off more than BTC.
But I mean, I think that like when you look at the way things are looking right now,
there's a lot to be optimistic about.
Rooster, welcome back.
Pick God, welcome back.
How's it going, gentlemen?
What up? What up, Kalea?
Yeah, let me get the intro here, okay?
Good morning, Bulls!
Fuck you!
Pay me!
Fuck it!
Higher! It was beautiful.
Appreciate that.
Hey, go up.
I don't even know how to stare out of my pocket.
Hire!
Generational golden bull starts now.
Do not let them put you out of your bag.
We are going astronomically higher.
Infinity.
I'm tripping early in the morning. Ooh, on the wave like E.T. Is the blood trying to call me? I was tripping early in the morning.
Ooh, on the wave like a durag.
Man, that was beautiful.
All right, y'all.
I'll chill now, all right?
I need that energy in my life.
I appreciate that, man.
I need the energy every day.
I think everybody else does too.
I mean, I don't know how you can't be fired up after listening to that.
I want me into it. Do you have people in the car with you?
Yeah, I got people in the car with me, man.
Some non-digital asset participants here.
Really just let them hear it here.
I'm on the way to a round of golf, man.
That takes a lot out of me, dude.
I can already feel my voice getting all raspy.
But like I said, fuck it, hire
How many holes are you, like, how many strokes
Are you adding to your handicap just for the energy
That you took doing that?
Dude, I probably just added like seven
To eight strokes on my game for today
I might have a couple extra double bogeys
But honestly, dude, fuck it, it's worth it
You know, I'm all here for it
Like you said, like you said, hire Right higher right yeah you know dude i would not mind shooting a 150 if that means
btc is going to teleport to 150k i'm cool with that i i can take that i can live with that i
don't mind getting dogged down on the course for it either you know what i'll shoot for a 110 today
so you know like if you can if you can just hit a 110 and send BTC 110 today, I'll take that just for the day.
All right. Yeah, I got you.
Don't need to be too greedy. Don't need your golf game to be that bad.
One step at a time. We'll get there.
All right. Yeah, I'll try and play around every Friday for the next five weeks and progressively bring up my score of 10 strokes.
Progressively just get worse.
And then we'll have 150K Bitcoin by July 4th weekend probably.
That sounds about right.
What is your average round?
I've been shooting like right around 90 the last few rounds.
That's not going to cut it today.
You need to go for a one count.
I need to go higher.
I was going to say today.
I am going to mix in a couple extra beers just for the sake of the price of BTC here.
For the sake of the price of BTC, you have to.
Yeah.
Man, interesting day on the timeline yesterday, dude.
I don't know if you saw the Citadel chat, dude, but a guy shit himself on my plane, on my flight up to PA.
And I was fucking stoned out of my mind.
So I was just geeking, laughing at these Donnie and Elon tweets back and forth, dude.
I was like literally laughing like a little schoolgirl on the plane.
It's good times. Good times, though. Good vibes.
Yeah, no, that's...
I couldn't deal with that
yeah dude i was stuck on the runway for like two hours after i was supposed to
wait was it because of that no dude there was some bad weather and like right before we were
about to take off they said like no one get out of your seats and this guy in front of me just sprints to the bathroom and i'm like what
the fuck he comes back like 10 minutes later and as soon as we take off he like calls the
flight attendant button the flight attendant comes over he like whispers in her ear dude she
runs away she comes back with a packet of wet wipes and 100 napkins and hands it to the guy dude and this guy sprints back to the bathroom oh my goodness he's and he is gone for like 25 minutes dude he comes back and
he wraps his sweatshirt around his face and sits in shame until probably about an hour later into
the flight he had to sprint back to the bathroom honestly by the end of it i was feeling bad for
the guy when he got up before we took off i I was like, dude, if this guy makes us
take off, I'm going to beat the shit out of this pussy.
But thankfully, he didn't.
Still rough. Still rough.
Not the most fun flight. But again, dude, I was so stoned.
I didn't even really care what was going on. I was just enjoying the Twitter beef.
Dude, I fucking love your energy pick god you just inspired me to uh do another set on my workout so oh hell yeah research are you games i know you're in the gym right now honestly dude i've seen you
in person you could use it so make it make it make it two extra sets all right brother
you need the bulking season.
Yeah.
You want me to send you some whey protein or something, bro?
I got you.
I'll gladly give you a few of my pounds that I need to take off.
I put on a good 12 pounds sometimes here.
All right.
I haven't been super consistent.
So what are you weighing now, like 120?
No, I'm like 157.
Nah, I was fucking with you.
But yeah, I got you, bro.
All right, I'm going to let you guys kick this shit off
and I'm going to mute myself,
but I'll try and listen.
But I got to get back into the vibes
for this golf.
Yeah, it's fair.
It's fair.
His energy also made me briefly forget
my bags were my bags
and thought my bags
were other people's bags.
So that was pretty.
If you aren't drowning for your bags in the middle of the ocean,
you aren't working hard enough.
Okay.
That's just the reality of the situation.
Oh my goodness.
Yeah.
Good.
Good fucking start to the day.
It's a great start to the day.
Yeah.
Dude.
I mean,
it's things are starting to pick up.
I don't run into the book.
I don't run into the racks. I don't run to pick up. I think he knows. I think he knows.
What I feel like right now is the entire market is like the ring of fire and everything is a semi-dormant volcano right and we're starting to see a few go off but there is like tectonic action happening around the plates
and it's just a matter of time before each thing starts sending right like so there are going to
be some early senders there are going to be some others that are sitting there chilling for a bit, but you can feel it. You know that something is happening. Something is in the works and it's not just some singular event somewhere. It is something that is like going to happen on a global scale.
I like, I just feel it in my bones, man. We are there. Bitcoin just has to really Bitcoin just
has to clear the, the, you know, hitting that 120 K 130, 140, 150 K area, make a clear,
clear move above a hundred K. And I think the real acceleration is starting, but I mean, dude,
you look at it with other risk on assets right now But I mean, dude, you look at it
with other risk on assets right now.
I mean, heck, even look at silver, right?
Like silver's a more risk on asset.
Gold traditionally, if you look at moves
in inflation hedges,
gold usually ends up leading
before silver ends up taking off.
Silver's kind of the higher beta,
more risk on play.
It lags.
Like I was looking at some charts the other day with the ratios.
Silver's starting to be the risk on play now, right?
Bitcoin too, right?
Bitcoin is the risk on play.
Bitcoin's like a silver in a sense
that it's lagged a little bit behind what gold has done.
Where gold is out here.
You know, it's been in price discovery for shoot nearly a year now.
It's just a matter of time. And anybody that says that none of this is going to bleed into the alts and
bleed into anything that's more speculative is insane. It is just,
it's a trickle down effect, man. It's a trickle down effect man it's a trickle down effect
yeah i mean it's just a little bit faster yeah real quick real quick i wanted to add dude i
feel like btc is in this golden fucking spot where it's like it's on the verge of everyone
realizing that this is a risk off and risk on dude. I don't know, man. Held up pretty well during the tariff stuff.
Slight little dip over the Elon and Trump beef,
but we are about to send this shit astronomically higher.
All right, back to you, Cleo.
No, we're to Roos.
Yeah, no, man, I agree.
It's not even really a question of if and when you know it's just can you be patient enough because it's it's all going to happen honestly doesn't matter
what happens in the world whether you know elon and trump are bickering online or whatever at the
end of the day none of this really affects our magic internet money.
It's eventually going to be higher.
It'll always end up being higher,
you know, just depending on the timeline.
Yeah, you know, and that's the thing.
We are just at this point right now.
I don't think the world is ready
for what's about to happen.
I really don't. Like the entire ready for what's about to happen. I really
don't. The entire world and crypto Twitter as a whole, what happened to crypto Twitter to where
they stopped believing? It's like, you see the average person back in the day, the average person
was looking for like, if you were talking about at least a 10x for Bitcoin and for ETH, for the majors, then it was fun.
But these days, man, it's like, you know, I think Bitcoin on a lower time frame, you look at this time frame, it might hit 112k.
And, you know, it might chop back down to 106 after that.
And, you know, from there, 109.
It's like, bro, forget about the minutia of what is happening in the daily, the hourly, the minute charts that everybody is staring out and zoom out.
Did we forget?
At the end of the day, Bitcoin is a revolution.
Everything about this space is redefining the global monetary standard.
It is redefining what is true freedom for the way to be able to transact value, for the way to be
able to define value within communities. And it's something that I think is incredibly
mispriced. It will be the highest growth sector out of any market
for not just the next couple of years,
but I think the next couple of decades.
Because it has synergies with everything.
When you're talking about AI, I think AI is in a similar boat
because everybody is so bullish on AI
because it does have a lot of synergies with everything.
Crypto is the same boat, man, except for the difference is
crypto is pure finance, right? Like Like it is money. It is value.
It is something that a lot of people in a lot of places throughout the world have not had access
to this type of freedom before. And, you know, I think the Circle IPO, great example of something
where people are literally just betting.
It is a vehicle for an on-ramp to fiat to the space.
That is purely what Circle is.
And you see the way that it's performing right now.
And I think it's because obviously treasuries right now with the way inflation is going,
like treasuries have been printing and they invest the money that people bank with them to be able to get USDC in these short-term treasuries,
and they're getting a high yield from it.
And it's basically this infinite money glitch where they are printing it,
and a lot less people want to redeem their USDC, even in a risk-off environment,
than people want to actually print it.
then people want to actually print it.
So, you know, I think it's just,
there's so many avenues of this wealth transfer
that are happening into this space right now.
And again, it is just a matter of time, man,
before we're not at the point
where I think the general public
really believes something different
and something special is happening yet,
but they will.
Hot take here, Kaleo, specifically what you said in the beginning of that about, you know,
what's happened with crypto Twitter. Honestly, I think now this is going to be a really hot take.
I think NFTs changed and fractionalized crypto Twitter in a negative way, right?
Because it used to be, you know, everybody just, you know, sharing any information they got out here, good calls here.
Like it was a lot more like crypto Twitter as a whole was a community, right?
Since NFTs happened, I think a lot of people fractionalize
into smaller, separate groups.
And then now almost everything
you see on the timeline
ends up being like,
here's your exit liquidity.
People share all the information in private chats
first, right? And then
once everybody's got their positions,
then it goes to the timeline.
And then that's when the exit liquidity kicks in.
So it is.
Bro, I don't think that's any different than it's ever been.
It's just as a different look, right?
Like people were that way before just with L1s and altcoins and whatever else.
It's like back in the day, you had your ETH Maxi band camp.
You had your, you know, the Bitcoin Maxi band camp. You had the, like each bitcoin maxi band camp you had the like each one
of the l1s had their different band camps like i was kind of for a little bit i was so bullish on
this one block chain called stratus which i think is called strax now and you know because they were
integrating it was basically a business stack where they you were going to be able to code
solutions that were going to be compatible with a whole business suite and all the businesses
were because they you know use c sharp and or c whatever you know it was at the time and it
to me i was just like oh shit like none of these other, yeah, when you look at all the other
chains out there, none of the other languages that people are using right now are very compatible
with this stuff. So yeah, that would make sense. It didn't do shit for a minute, yeah. But like,
that's that? No, right? So like, there are a lot of things that did fractionalize people, but you just had a lot less people in the space.
And I still think people are marginally fractionalized within these different ecosystems.
Now, do I think what NFTs do are just kind of like they concentrate that a little bit more.
And by concentrating it, the people that are in that group are that much
louder and more passionate about it. And it's smaller. So slightly less fractionalized. But I
think at the end of the day, a lot of these people are still for the same thing, right? Like it's
just, you know, any NFT, all et cetera, like as the market continues to grow and there's more capital and there are more participants, fractionalization like this is bound to happen.
You can't just keep everybody with one thing.
No, yeah.
I mean, I see what you're saying.
I was more or less just talking about like, you know, NFTs, like just giving it a little bit more of a catalyst, exponential, you know, push
to communities, fractional, fractionalizing, because I mean, honestly, that's where, especially
with the way algorithms are now, like on the, on the regular timeline, it's, it's really
hard to actually stay up to date with, you know, everything, just scrolling through the
timeline and not having like a group of people with different timelines that are sharing
different information. I mean, it's not like I spend most of my time in, you
know, different private chats, right, which is evidently for me where the best information comes
from. So I'm not saying like it's necessarily a negative thing. I'm just saying from, you know,
this class from last class, it just seems a little bit more clicky.
this class from last class, it just seems a little bit more, a little bit more clicky.
That's fair.
And you know, something I've realized recently too,
like I think this is a natural part of that fractionalization
combined with having a loud voice, right?
Like I've got a large audience and a big platform.
And what happens with that is I have reach to a bunch
of different fractionalized communities. And I think within that, what you end up getting
is just naturally, no matter what you talk about, literally, no matter what I talk about,
somebody is going to hate me for it. Somebody is going to shit on it. Somebody is going to think it's the dumbest thing that they have ever seen.
Somebody is going to think, Kaleo, you are an idiot.
This is stupid.
You have to be a terrible person to talk about this.
You have to be insane to believe that.
You are just whatever.
And at the end of the day, what I finally come to a point is for a long time, I let that stuff affect me.
Dude, I really just could care less right now, right?
Like if I'm passionate about it, that's even talking about NFTs in the timeline.
I could care less.
I don't like and for a while, too, I would care how much engagement I got on
something. And it's like, Ooh, if this doesn't hit the right level of engagement, should I put
it out there? I don't give a single shit anymore. Right? Like if it is something I'm passionate
about, I'm going to talk about it. Right? Because I think that is something that it's easy to lose kind of your voice and in what you do as well, because you get
siloed into it. And I'm just at the point, it's like, fuck it, man. Like, I'm, you know, excuse
me, I need to, I really do. I'm still trying to watch my language, trying to be better about it,
but whatever. Like, that's the mentality. I am like, where we are heading, you have to be a little bit insane to do something insane.
Not going to lie, dude, ever since Miami, kind of think you lost it.
It's a compliment now.
right i know i saw i saw some other dudes like fucking uh go on some tirade about you the other
Right?
day on like uh arena coins or something but it was just funny reading the comments on that dude
people are so dude i didn't even read through all that like a guy posted on that and at first
yeah i posted one reply and after that i was like fuck it again i i could give zero shits like i looked
through that guy his whole his whole whatever persona is pure trader from looking at like will
bitcoin go up an extra thousand dollars will it go down an extra 500 and you know talking about
something macro here and there and like the most vanilla shit that you possibly can be.
And a lot of those guys, what they want to do, they just want to engagement bait. And if you
talk about anything on the fringes, you are a God awful human being. And, you know, it's cool.
You're going to have people that believe that and that's fine. Right? Like I, I can give less than a single shit about people like that.
You know, back in the day, that would just unhinge me.
That unnerved me.
But, like, dude, again, who cares?
You know, it is one of those things where, again, even talking about NFTs in general right now, right?
Like, you can talk about, like, I don't care if it's the arena coins, if it's NFTs, if it's whatever.
Talking about NFTs in general, you're insane, right?
You are just undistinguishably by anybody, whether they were an ex-NFT participant or somebody that always faded them from the sidelines.
participant or somebody that always faded them from the sidelines you are insane if you are
bullish and actively talking about nfts right now why because the price isn't going up right like
because the prices aren't going up in the same ways across the board as some other assets so
what does that mean you're crazy right speaking of uh of you know nfts and prices
uh people actually bullish on moon turds again now after recent acquisition
i mean i i kind of like that they are personally um i mean the new one does look like a lot better.
Well, was it Spencer that acquired them?
Yes.
That's the other thing. Yeah, Spencer's a good dude, man.
I'm bullish on him.
I like to see communities that were at one time considered a blue chip
to get some type of revival in there.
And why?
Because there are a lot of people that were whales at that point
that were active in moon turds.
Maybe I want to say moon turds.
That it makes them that much more interested to be like, oh, what's happening with NFEs?
What's happening with this and that? So, like, I love that, personally.
No, yeah. I mean, I haven't really, you know, looked into it too much.
Like, what are you planning on doing with them and not?
But, you know, I did see, you know, MoonTurge making the circulation recently.
And at this point, like honestly, any life in any NFT ecosystem, I'm happy about.
Right.
Because it's been few and far between over the past, you know, really, really long time.
The other thing, you know, we should probably talk about too is Polymarket, I guess, being incorporated into X.
Yeah, I haven't read what the exact details are with that, but I think it sounds cool.
It does sound cool.
Does that mean that we get to gamble through X?
I mean, that's kind of what I'm wondering a little bit, too.
Like, is Elon basically going to just put up all these different prop bets
for his little niche, what he wants people to speculate on?
That's half what I'm wondering.
Like, is that going to be the narrative with this?
Can anybody spin up a prop
bet almost like a poll via their x account that'll be interesting that'd be really cool actually
I mean the only the only difficult thing of that is like dude how are you gonna
how is it not gonna be like oh fuck, what's the word for insider trading
but for gambling?
You know, like every bet would be fixed, essentially.
Like anybody being able to spin up any type of prop
can essentially backdoor, you know,
create the outcome that they want
at any point in time, pretty much.
Yeah.
Yeah, I don't know, man.
It's going to be interesting to see.
The, like, again, a lot of these different things
are just mini-onboarding routes
as far as anything to the crypto space.
They really are, right?
Like, this is what I'm talking about
with synergies with everyday products
for the crypto space.
It just it makes sense. It's an easier vehicle to be able to do to transact whenever it's done correctly than traditional systems.
It's just much more frictionless when it's done correctly.
it's done correctly.
You know, a couple other
things. Let's see. Stonks got
a nice little sweep. Looking at it right now,
you know, I'm just...
We're...
Dude, it's pretty damn thin
to start running up again.
Like,
we're looking at like 18 stonks to,
I think it's 18 stonks, back to 0.1, past 0.1.
You know, a 50 stonk sweep brings us back to 0.18.
And in that 0.18 to 0.2 range, if you've looked at it,
dude, the 0.18 to 0.25 are just like all ribbons,
gradients, Miami Vice, moving average, the 0.18 to 0.25 are just like all ribbons, gradients, Miami Vice,
moving average, like ribbon, just insanely, insanely solid stonks.
Actually, right now on the floor, I'm tempted to pick one up
because there is a Grail 6661 that's on there right now,
a bullish stonk with like just such a sick gradient
um but yeah man i mean uh again i i think it's just a matter of time before we really start
seeing a lot of shit start to just trickle back up, man.
People are risk on again.
What is it?
This is going to be year four coming up in a few months?
People are risk on again, yeah.
I mean, dude, look at, okay, actually,
for comparison of something I want to look at right now,
punks, last cycle, right?
Like, punks had existed for years, for years, and they were cheap.
And it took years before they started to really catch a bid. And when did they catch a bid? A
little bit in the fall of 2020. And then into early 2021 is when they started to wake up and
kind of, and what was happening at the same time as the fall of 2020 and early 2021,
Bitcoin was just breaking out the new all-time highs
and breaking above the previous bull market's all-time high.
And I kind of looked at that as like a comparison
of where we are right now, right?
Bitcoin is at this point where it is just now on the verge of really breaking.
I know that we're above the previous cycle's all-time high,
but we're back at the point, though, of where we were.
Shoot, let's see.
In January, December, we've been chopping right above the previous cycles, all time high
for basically the past six months. Haven't had like a real, real rocket shot above it yet.
I think that's what we're about to do. And in that sense, I think it's a similar spot to like
that late 20, early 2021 type vibes where things are going to be risk on again, man.
We were long overdue for an alt season. And again, with an alt season,
I think comes an NFT season. And that's where I think a lot of these grails,
a lot of the projects, you know, the OD generative art,
like the stonks are going to start seeing that bid.
Here's like another reason, you know,
I'm still majorly bullish for like alt cycles, even though,, even though the air has been sucked out of that balloon every time Bitcoin bumps for the last long time.
What else out of top 10, top 20 has made new all-time highs, even just by market cap, other than Bitcoin and Solana?
This cycle, like honestly.
That's my point.
Not really much.
I mean, hype, right?
Like, but when you're looking at previous,
there's not a lot.
And I think that we just,
we have not hit the true stretch
of the bull market yet.
But I've said this before and I mean it.
I've never said this until recently,
like until this cycle that I finally believe that we're finally breaking out of
the four year cycle, this is going to be longer and higher.
It's going to react differently. It doesn't mean that like, Oh shoot.
The bull market was in, or not the bull market, but the having was in,
you know,il 2024 so we should already
be at the point where we're about topping right now and maybe entering into the bear market nah
man like this is longer more drawn out longer higher um it's going to be more fun when it hits.
It's going to have a more insane blow off top, I think, across the board.
And it's just a fact.
I got a call.
I got a run.
I got a run. Yeah. can you hear me now yeah so if you're talking about a uh
what's it called okay like a coil a spring the more that it is compressed, the larger that it is,
the higher that that recoil is going to send it when it's unleashed.
And I look at that as the market right now.
It is a giant spring on top of the base of the previous bull markets all-time high,
and we are about to just erupt, man.
And again, I just don't think the majority of the world is ready for what's about to happen.
markets heating up, I've been trying to pay attention to what, if any, my normie friends
are doing, right? People who aren't like exposed to the market, but, you know, know that I actively
am actively participate. They've, I mean, they've, I sometimes I think I failed as a friend with,
you know, how much they've heard me talk about crypto, Bitcoin, you know, alts, and none of them still participate.
So, you know, sometimes that's like, okay, did I do something wrong there?
But no, I've been paying attention to if and, you know, if they're making any moves at all,
if they're buying anything, not a single one of my normie friends who have been who haven't been previously exposed to the market
have purchased even so much of a cent of any coin yet
yeah so i we still i i still got a lot of thing the normies are not here yet the normies are not
back they're not like it's not the popular thing to do for the average grow out like it's
still the popular thing for people to laugh at it it kind of is so until it's the thing
you know we we talked about this last cycle but it's kind of true until every uber that you're
hopping in has tradingView up on their phone
and are shilling you the next big thing,
until the guy that's the cashier at, you know,
McDonald's and Kava are saying,
hey, you should buy X meme.
And have you heard of XRP or whatever, right?
Like, until your friend that has always laughed at you for
being involved in crypto and for believing it, it starts asking, okay, now how do I download
Coinbase and withdraw something, you know, to whatever, until all of that starts happening
on a regular basis.
We are nowhere near the top.
I saw a hilarious tweet a while ago.
I forgot who it was from.
Dude was like,
he's I don't tip my Uber Uber drivers.
I tell him to get a phantom wallet and get,
get in the trenches.
I mean,
crack him up,
dude.
Oh man. But now I, yeah, that yeah that's uh you know when the signs are obvious
the signs are obvious right um so we'll see but i i agree we we got we got we got a lot
left in the tank and you know i've been trying to i took a step back since you know trump's
been office where the market got really,
really choppy and I've tried not to chop my, uh, stack into bits, but over the past few weeks,
I've been, uh, solely getting back into the groove of things. And, um, yeah, I'm, I'm,
I'm ready for these next moves. I agree longer, you know, harder, better, faster, stronger,
I agree, longer, harder, better, faster, stronger, this cycle is going to be.
Yeah, man, I'm hyped, right?
I've tried to diversify a little bit over the past couple weeks with aping into this riot position, too,
because I just think that when you look at when the market turns risk on, there are a lot of things I've like done a whole thread on why I believe that the calls were so cheap right now.
But they were. I mean, heck, they're up like 50 percent in the past couple of weeks.
I think I made my last buy today and now I'm just going to chill on it.
And whatever happens with it, you it, they've got until January.
So whatever happens over the next couple months, worst case scenario,
my stop loss, I guess you could say, is if they're down 50% or so,
then F it, I'll cut it, and I'll just call it, it is what it is.
But again, I mean, right now they're up a total
of 50%. And I think the direction with the way the market is heading, I don't see a way that
these don't just continue to print. And that's one way of being able to have a vehicle where
the advantage of a brokerage account versus having a lot of stuff on chain is,
is, you know, it's a way to be able to make money on the books that you can easily transfer
to your bank, a lot easier to track, a little bit cleaner.
And, you know, you can still be a degen on chain, but at least you've got like, you know,
say that somehow you make millions on chain
it's a lot more difficult to get that off versus somehow being able to make millions off chain if
you're lucky enough to do it so we'll see like will it run it back i i i just have this feeling
in my heart man it's like this is the next tesla play from that i had from back in 2021 this is it we'll
see here i got a i got a question for you for you know any potential like uh new market participants
or even you know just someone in retail or you know normie just just diving into the market now
right so let's say i onboarded someone um on the crypto twitter you know they have 10 to
20k in dry powder you know wanting to start this cycle now how would you what would you do how
would you recommend them to move or to put in what dude either left this is going to sound so crazy. This is going to sound so crazy.
But buy
NFTs to start off.
Here's why.
Because I think playing
memes right now, as volatile as they are
and as many are going to print,
you're going to have as many that rug.
But I think what you have with NFTs,
it's easy, especially when you have
10 to 20k,
it's a lot easier to be able, one, you get exposure to the underlying asset.
You get exposure to the L1 that they're built on.
They're basically a long-term call option, doesn't expire on the chain.
And the dividend that you get paid out in is trust and community, right?
So, and a lot of the time, you know, for some of these random NFTs,
some of them have random perks, et cetera. But I think what you have, there's some clear cut plays out there
of communities that I think like in a bullish environment are going to make a comeback,
right? If they've survived for this long, they're not going to all of a sudden run.
So you look for people that have been building and
active during the bear market and in that sense you get a couple benefits again you now have access
to like immediately you're accepted by this cabal of people that you can plug in with you talked
about the fractionalization of the concentrated attention, um,
the NFTs drove as much as,
you know,
I see where you're talking about how there can be downsides of the
fractionalization as a whole.
I think there are upsides within the individual cases.
And like,
I just,
again,
it's one of those things,
man,
NFTs are going to make a comeback in a risk-on environment.
And I think a lot of these plays,
it doesn't take much capital to really get them to send,
you know, buy something where you can get
like at least a couple of them.
With 10 to 20K right now,
you can get a lot of quality, you know, ETH NFTs.
Heck, you can look in with 10K on SWE, I aped in to several projects
that are some of their leading projects. And that gives me a lot of upside exposure within that
ecosystem. So if you want to be a little bit more speculative, go to some of these alternative
ecosystems. Because at the end of the day, when the NFTs get rolling, those are going
to be the people that have more of a voice. Because again, look at the ape effect from last
cycle. The value that somebody had for just being able to claim that they had a bored ape,
or claim that they have a punk, and claim that they have X, Y, and Z. Claim that you have a punk and claim that they have X, Y, and Z, you know, claim that you have a pudgy penguin right now, right?
Like claim a bunch of these other types of things.
And it instantly gives you that much more credibility with what you're going to do as
well.
You don't have to worry about like, is them going to wake up and rug this one day?
Like, is the, you know, just look for established communities that have been around
and be patient with it and that is not the popular answer i i just think buying most random meme coins
right now like you know give yourself some exposure to that stuff but if you really want
to be a degenerate degenerate get upside to it i think think buying, using at least 50% of that on some solid NFTs would be a really
good play. And then, you know, have a little bit of dry powder for some of the action that comes
along with that. That definitely is not the popular answer, but I like it. And I can see
your reasoning behind it. Just a couple hurdles I think a new participant, you know,
would be facing is knowing, you know, which NFTs are,
you know, that fit that Goldilocks zone, right?
Because, I mean, 1020K, you're going to be priced out of your,
you know, your major blue chips of what of any pretty much on
any chain other than I think Solana right now. I think Mad Lads are even like six or 7k right now.
Down like 80% from all time highs. I think they were around like 40k at their all time highs.
And that's, you know, they're typically either one or two on Solana um i don't as far as like going you know a new
participant you know going super speculation like into suey i probably personally just wouldn't
recommend as you know nfts are already on that very far side of speculation i just use as an
example that 10 to 20k like within that ecosystem, you literally can ape it.
but I mean like on ETH again,
you can ape in with 10 to 20 K right now.
You can ape into a lot of solid NFTs that are at a major discount.
You know,
heck I buy like a couple of little pudgies or something by, if you're talking different things that are shoot,
what, what are, what is like the best, the closest you can spend to 10 to 20K on a blue chip type NFT that's down right now?
As probably also unpopular this opinion is, I would still think, I would still say, and definitely not a bag bias at all i would say pandas are
of course you're going to say pandas i i like pandas too you know not not a bag bias at all
um let's see i mean heck even crypto dick butts are making a run back recently you can just pick
a lot of these different things and it depends on what you want to get plugged into. You can say, like, I know you'll say this is unpopular.
Heck, you could say doodles.
You could say, like, you can get a doodle right now for 3K.
You can get a, let's see, the little pudgy for 3K.
You know, the bad bun, speaking of something
that right now is hot with bread up here
speculation on the mega ecosystem if you want to be a little bit more speculative that's half an
right like azuki's right now or six eath i think a lot of these are going to make a comeback again
call me crazy but a lot of these different communities, there's just so much of, if nothing else, a sentimental feeling.
And I think it then comes down to like what direction do you really want to go with your brand as far as which one of these to really get plugged in with?
Obviously, some are going to run harder than others.
But I think a lot of these right now get you plugged in to different ecosystems that it is just a long-term call option on the chain where you're not worried about having to trade it every single day.
You plug yourself into a community.
You get the upside of the underlying asset because, again, they're not based in USD.
They're based in whatever the denomination of the under. So for this case, ETH, you know,
or whatever chain that you're on. And I just think they're slept on right now, man.
Dude, I agree.
As crazy as it sounds to a lot of people right now. But, you know, something's always crazy
until it's not. And that's where I think nfts are right now i'll be the crazy one
and i will gladly i actually hope because i don't have nearly the dry powder that i want
to be able to ape into a lot of this stuff i hope we get another couple months of sideways
when it comes to nfts that's i like another couple months of sideways and i should hopefully be able
to deploy enough capital to really kind of get positioned
where I want to. You know, I hope the rest of the market goes up, like alts go up, memes go up,
everything else do, but I hope NFTs go sideways for another couple months so I can continue to
be that crazy guy that's continuing to stack them because it does not take much capital to really
move these markets, man.
And when it starts happening and everything else is risk on and everything else is starting to print, it's going to look like such an obvious play, but it's not obvious until it
is right.
Like it's always only obvious in hindsight.
Dude, I agree.
I think people severely underestimate and either that or just you know simply don't appreciate the attachment
value and sentimental value that you know people actually get with these jpegs dude i get like as
as fucked up as it sounds like i guarantee you there are some crypto bros out there who have
said like that's my boy to an nft that's prices pumping more than to their own
children like i'm not even kidding like i i guarantee that's happened many many times and
you know it's at most of the prominent faces like even on ct nowadays are still i you know i wouldn't
call them like nft maxis but like that's where they were kind of you know born and bred like even
like you know for rogue um a lot of people have these deep roots and nfts and always even talk
about how fun you know it is when the market is hot um even though it's not the fun thing no no
they talk about how fun it was and they missed that the air is over and most of them because they're one cyclers
they've only been around for a cycle they don't believe they're coming back yet and there's a
huge advantage in that because they all want to believe rooster they all want to be risk on they
all want it because they all miss it but none of them are willing to be the ones that like
pull the trigger and go against the grain and like i have seen just too
many cycles like this is my third full cycle that i'm going through right now to not be like
i don't care how crazy i am the longer i'm crazier the more upside i have because they will explode
like it is just a matter of time. So I am so bullish when it comes
to the NFT market right now. Where do I want to park? Like every time that I buy an NFT, the
beautiful thing about it is when I'm buying a meme coin, I'm basically trading it, right? Like I am
speculating for the most part, where am I swinging this capital now, whatever, whatever. But when I
buy an NFT, it's like putting the underlying asset in the bank.
It is putting ETH in the bank.
You know, I've got like the SWE side of things,
getting plugged into that eco.
It's putting that in the bank.
It's putting the AVAX in the bank.
It's putting Sola in the bank.
It is me banking that underlying asset
because I am incredibly bullish
on all the underlying assets
for all the L1s that they're built on.
But at the same time, I am am incredibly bullish on all the underlying assets for all the L1s that they're built on. But at the same time, I am also incredibly bullish on these call options that right now everybody else thinks are worthless. They're way out of the money. They're unpopular.
They're never going to hit. Bullshit. You just don't have the vision to believe you forgot how to believe you look for your little
scalp here and there. Like I will ape into the shit that you don't want. And by the time you
want it, thank you. You're going to be my exit liquidity. Dude. Right. I mean, I mean, even just like thinking back to what, two years ago, you know, during peak bear, you know, after all the exchange liquidations and everything, right?
You had Coinbase like sitting at, what was it, like $30 a share with like not much volume going on.
And that like just hindsight, that's one of the most obvious plays ever, right?
You know, peak bear market in crypto, you know,
buying out of the money leaps for
a year, two years in advance,
probably did not carry that high of a premium at then.
I mean, that's like, those are generational plays
that people fade in the heat of the moment. But you know and like with a little bit of belief right you that could
be a generational play for you yeah i agree i mean there are a lot of things though it's not obvious
until it is right like because a lot of people called anybody buying Coinbase crazy because they're like,
ooh, look at what just happened to FTX.
Look at what
you really want exposure
to this,
you know, to this exchange.
Is it really
something you want to dabble with? Like,
is there not counterparty risk here
that they might be in the same type of boat?
I'm just saying it.
It's everything's crazy until it's not.
Buying Bitcoin was crazy after FTX, right?
Go to the list of things that have been crazy for extended periods of time.
I'm telling you, buying alts right now is crazy.
Buying Bitcoin was so crazy.
Like, we had Carole Baskins on stage
being one of the few people
that's, like, screaming at the top of their lungs
that they're buying Bitcoin sub-20,000.
And I bet she out-traded half of the fucking listeners
in the spaces, dude.
Like, yeah.
I mean, crazy is good in this market um you know so a lot of
times a lot of times crazy is good you know it depends on the type of crazy i think there's
there's crazy then there's greedy right like you know when you've already hit multiples
and you're like yeah it's gonna multiply much more. Sometimes that's a little bit greedy, right?
Like I think there is a good example of somebody that I like with this is
Deez where Deez has like a big hype bag and he has put up pictures of him
just taking a little bit of profit as hype goes up,
taking a little bit more profit as it goes up. taking a little bit more profit as it goes up.
Is he exiting out of his entire bag? No.
But like, is he afraid to take profit on that position as it goes up?
And I think that's a good mentality to be able to have.
That, you know, again, crazy on something that you see the underlying fundamentals
being bullish on, that's one thing.
Crazy on the multiples that it can do after it's done multiples.
You've got to be able to have moon bags, right?
But if it's your entire bag, maybe that type of crazy isn't good.
At least as it's going up right like if you build that position when nobody else is giving a shit and like you see the upside for it cool it is what
it is but at a certain point as things are climbing like you know it depends again on like
how early we are and where you see in the cycle,
et cetera. Like that's for each person to determine, but crazy point me in though,
a little bit of crazy can be good.
Yeah. You're doing it wrong. If you're not a little bit of crazy in the cycle anyways.
So yeah, man, I'm, I'm excited for every, everything that's to come, you know, bags
are packed, some dry powder on the, on the side waiting, um, for any, any spark that
I would like to have conviction in.
And, uh, you know, we just wait and be patient.
Don't let the, uh, don't let the next person outwork you.
Amen, man.
Yeah.
You know, stonks really are right now.
I truly believe the wonky stonks are free right now.
They're inevitable.
Like too much exposure, too many ties to too many communities under 0.1 ETH is actually free.
There's like literally no downside.
Anytime they get in this area, they always go back past it.
The only downside, stocks have bottomed themselves.
The only downside potential in stocks is the underlying asset, ETH.
But I'm bullish on ETH.
Don't be crazy.
I'm bullish on ETH, especially now that they're finally prioritizing.
I think that's the most bullish thing I've read in forever with ETH
is that they finally want to make the L1 scale it
and make it competitive because that's the thing, bro.
They have just for years kind of just shit on the L1
and forgotten about it.
It's like, oh, yeah, we're going to build up
all these other fringe ecosystems
and eventually through scale, it's going to build us up.
Nah, like that has not worked.
They're finally, I think, coming to terms with that
and scaling the L1, I think it's the most bullish news
that we've seen in a long time for ETH itself.
I think we're going to see a lot of upside as a result of that.
Yeah, dude.
It's like the foundation has pretty much only been using the L1 as a
liquidity pool to give money out to the fringes.
I agree.
That is a lot more bullish for ETH. money out to their piggy bank yeah give money out to the to the fringes yeah so i agree that is that
that is a lot more bullish uh for e you know but just like we were talking about earlier you know
it's really only been as far as majors go um so on bitcoin hitting all-time highs as of the cycle
so if you don't if you don't think there's going to be an alt cycle after this, I don't know what else to say other than you're wrong.
So, yeah, we just wait.
Amen, man.
So, anyway, super bullish.
Love the energy right now.
Pick God started the space off strong. It was good getting back in here.
Really appreciate everybody that's tuned in. We'll be back next week.
Everything's inevitable, man, but
as always, wonky stonks are inevitable.
We'll see y'all next time around.
Take it easy.
