Bitcoin DOUBLED The Last Time Rates Got This High | Mark Yusko

Scott Melker (0:02)

Bitcoin doubled the last time rates got this high. Many people thinking that 6% is inevitable and maybe even higher. But they're wrong if they think that that is necessarily bad for Bitcoin based on previous evidence. We're going to talk about that and everything else happening in the news today with Tillman, Andrew and probably maybe sort of fighting chants Mark Yusko. But if he does show up, he'll be wearing either roller coaster socks or orange pants. I'm sure he'll be here soon. Let's go.

Good morning everybody and welcome to the show. Happy Tuesday. I know that like me, this is your favorite day. I'm going to be honest, your favorite day used to be Monday, but it seems like you guys are very angry about Mondays. Very, very angry people. I don't think there was one happy comment yesterday in the show. And Given, McGlone is a bit ornery. And he was, I think, angering you guys a little bit. But to be fair, not only did he say Bitcoin was going to 10,000, but I think he said gold was going to like, I don't know, $2, something like that. So he's consistent, I think it was 3,000. He said that Bitcoin's glory days are over, though, if you guys missed it, which was hell of a quote. And then I made an AI image at the time of him singing glory days as Bruce Springsteen, because I'm a serious person. Let's get Tillman and Andrew up here. And oh, I'm trying to click Mark on, but he's not there.

He's not there. Good morning, gentlemen.

Andrew (1:48)

Good morning.

Tillman (1:50)

By the way, I don't radically disagree with McGlone. I disagree with about 90% of what he says, but it depends on how he defines glory days, right? You know, I said last week we're not going to have a 250% up here in the next three to five years. I really don't believe that. But if we have on average 40 to 45% years over the next three to four years, that means we're significantly above all time highs.

And so, yeah, he's not completely and utterly wrong. He's just nearly utterly wrong.

Scott Melker (2:30)

You know what the best part about this image is?

His band is in the audience. And the audience is behind him.

Tillman (2:36)

Yeah.

Scott Melker (2:38)

Which I didn't realize when I whipped this up in real time. Yeah, glory days are over.

Tillman (2:42)

Yeah, it is, again, and McGlone is a voice that I think is reasonable on your show, and people can get angry about that. But at the same time, you know, guy was kind of right about gold, you know, he's got some interesting thoughts on copper, was fairly right about commodities and hard assets. So yeah, I think he's an important voice. Certainly he's going to piss off, you know, Bitcoin Maxis.

But what doesn't piss off Bitcoin Maxis?

Scott Melker (3:14)

Someone was like, remember when CNN, you always have like one token Republican on and then everybody would just scream at them? I think we can do that now on Mondays.

Tillman (3:24)

We can do that with Mark here right now, if we want to for this entire show.

Mark Yusko (3:27)

Yeah, I did not get the memo for the black shirt. So I apologize for lighting things up.

Tillman (3:35)

Orange pants?

Mark Yusko (3:37)

Of course I have orange pants.

Tillman (3:38)

Yes, all right, all right. There we go.

Mark Yusko (3:42)

Chilly, really soft game.

Tillman (3:44)

And the racing shoes. So the question is, what car did you drive to work today with those racing shoes? I know what's going on there, Mark.

Mark Yusko (3:52)

You know, I'm actually pretty boring. I drive a Kia Niro Wave EV.

But I did just get, my son's about to turn 16, so we did just get him a 2022 Bronco, and it is orange.

Scott Melker (4:14)

Every car should be orange. Okay, so listen, the headline here, let's talk about it. Analysts see 10-year treasury yield hitting 6%.

Bitcoin bulls shouldn't panic. And the premise behind that, actually, it's from Marcus Thielen, who's obviously on this show quite often, is that we've seen this movie before that since the end of 2023, the 10-year yield has risen 135 basis points, and Bitcoin has still roughly doubled to 86,000, even not accounting for the pumped 126 So, maybe all rate rises are not created equal, and maybe we should just calm down. Mark, your thoughts first.

Mark Yusko (4:54)

Well, I mean, I just, I know it's click bait. You gotta get people to click your story. Don't panic.