Bitcoin Breaks $1 Trillion Market Cap | Altcoins Surge | Mark Yusko

Scott Melker (0:00)

Bitcoin is over $52,000. Its market cap is over a trillion dollars.

And the Bitcoin spot ETF inflows are absolutely going nuts, over $500 million a day and growing. Is it clear skies ahead? Am I missing something? Are there some major headwinds that I'm not paying attention to?

Well, I've got one of my favorite guests of all time. As you guys know, Mark Yusko here to discuss this market, what's going on, what we can look forward to in the future and probably to show us some cool socks, I don't know.

And to talk some smack about politicians. This is going to be a really fun show, guys. Of course, we got the chart guys on the back half. Let's go.

What is up, everybody? I'm Scott Melker, also known as The Wolf Of All Streets. Before we get started, please subscribe to the channel. Hit that like button. Sorry that I missed yesterday. Was extremely under the weather, but making a raging comeback right now. So glad, glad to be back. And I wouldn't have missed Mark Yusko from the world. They would have had to literally prop me up in the hospital bed, turn me sideways, take the tubes out, put the mic in and said, Hey man, we're doing this. Mark, good morning.

Mark Yusko (1:24)

Good morning.

Glad you are feeling better and I am impressed that you would get out of the hospital bed for me. So I appreciate that.

Scott Melker (1:34)

Of course.

We had you booked in advance. There's no way I would ever cancel on you. So man, Bitcoin, $52,000.

Mark Yusko (1:43)

No, look, you said we'd do some socks. So yeah, okay. So I have the green candle pants. We're wearing green instead of orange.

And I have the Bitcoin moon sock game. And it's not just, you know, when moon kind of Lambo. No, this bull market that's just getting started, like we haven't even gotten to crypto fall. That doesn't happen till June. The halving is still yet to come. And we have one more, let's call it SpaceX-like explosion that was planned.

Right after the Ides of March, before tax season this year, there's one more selling wave that's coming.

Scott Melker (2:31)

And people are gonna go, oh my God, it's over.

Mark Yusko (2:33)

No, no, no, no, no. After that, and once the halving occurs, you know, this is interesting.

Scott Melker (2:39)

Are you talking about Genesis? Just for clarity, are you talking about the Genesis? Because to me, that's a nothing burger, by the way.

Mark Yusko (2:45)

That's a nothing burger. Every year, there are two something burgers, and they are bigger three out of the four years. In fact, they don't really happen in the fourth year because the bad year, there are no gains to worry about. But what happens, the Lunar New Year, every year, we just had it, before Lunar New Year, there's a bunch of selling in China to fill up the red envelopes with cash.

And it has happened every year since Bitcoin was started, and everybody's like, why is there selling pressure? Like, do you not understand a billion six people filling up red envelopes with cash? They sell some Bitcoin. So that's one. And so we survived that, that was no problem. And that actually coincided with the GBTC liquidations and all that good stuff. But then you have Uncle Sam has to get paid.

And you know, it's amazing. It's amazing. I mean, government, we don't care about Bitcoin. Bitcoin's a fraud. It just doesn't matter.

It's the fifth question on tax return.

Scott Melker (3:53)

It's insane.

Mark Yusko (3:54)

It's the fifth question. So even though they don't care about it, but so, and look, after a really good year, and last year was a really good year, up 130%, 155%, sorry, 155%. So there's gonna be some taxes due. And people are gonna sell to pay taxes. And that happens every three out of the four years, because you get three good years and a bad year, three good years and a bad year, three good years and a bad year. And Tim Peterson, who I love, I love Tim, just put out this morning this cool thing that we just yesterday, over the 52 weeks, up exactly 100%.

And that has happened, I can't remember exactly how many times he said, but in every incidence, the next 12 months, we're up 100%. So that's interesting.

And then the last thing that I was gonna talk about, but I forget, and we'll come back to it.

Scott Melker (4:49)

Right, I mean, so now we're at over again, this meaningful trillion market cap number, which listen, it's just a number, but it's nice to be back.