Bitcoin Hasn’t Done This Since 2012 - Then It Went Up 2,000% | Tristan Thompson

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Scott Melker (0:31)

Bitcoin hasn't done this since 2012 Then it went up 2000%. Casual 2000%. The answer to that question is it has not had a green July, August and September three months in a row in the middle of the summer since 2012, which obviously preempted the rally from about 10 bucks to well over $200.

Can't say that I'm expecting that this time, but damn, it will be nice. Good to talk about that and a lot more today with Tristan Thompson. Let's go.

Good morning, everybody, and welcome to the show. Go ahead and just bring on Tristan straight away. What's up, man? How are you? Good afternoon.

Tristan Thompson (1:25)

Scott, what's going on? It's afternoon here, man. I'm in the UAE right now.

Scott Melker (1:32)

Yeah, that's all. I wish I was in the UAE right now. So the most important question is, if we play one-on-one, how many points you think I would score?

Tristan Thompson (1:41)

Because I'm a nice guy. I'll play up to 11 I'll let you get 9

Scott Melker (1:46)

I don't even know if I could get 9 if you weren't there. I'm not going to lie, though. I was a pretty good sixth man in high school. That was in the 90s. So I feel like I could go pretty well. So we got this just starting here, right? I mean, Bitcoin on a streak, it hasn't hit since 2012 This would be the first time we've had a green entire summer, July, August, September. Now, we'll say when I read this article, my first instinct was to look at the calendar and say it's September 23rd, and we're spiking the ball on the one yard line.

We'll all talk about this for 10, and then it'll be red by 1% by the end of the month, and it'll be a non-issue. But more generally, how are you viewing this move in the market in general? You've been here for a long time.

Tristan Thompson (2:33)

Yeah. Listen, if that happened again, you wouldn't see me. You'd be on the boat, are we getting on the yacht somewhere, having a good time. So, but no, man, I mean, listen, what I always tell people, this is a long term play, long term hold. Of course, yes, do I get excited when we have some green months? Definitely. But I just keep just stacking chips.

Scott Melker (2:52)

Yeah. I mean, the longer I'm here, actually, the more upset I get when it goes up fast because I always think about the money I was about to get and that I could have used to buy lower, right? So I didn't think we were going to 40s or 50s, that that wasn't really my view. But I was hoping we'd stay down in the 60s a little bit longer.

It's kind of funny how the view shifts.

You get excited for it to go up, but also feels like missed opportunity.

Tristan Thompson (3:18)

Exactly. You were like, man, I should have bought some more when it was 65 And you're like, no, I'll just wait it out. I'll be fine. It might go a little lower. And it's like, you know, the have you do, the have you don't.

Scott Melker (3:29)

Yeah. I remember you had commented, I think earlier in your career, looking back that you wish you had taken your salary in Bitcoin at one point, right?

Tristan Thompson (3:36)

Oh, absolutely. I mean, back in 2016, when I had my deal, I think Bitcoin was at 200 something dollars. So like, listen, I would have that yacht. You'd have that double T going down, going down the South of France coastline.

Scott Melker (3:52)

You're in the UAE. And when I think about yachts, and I guess they were in Singapore, but the three arrows guys, we had the much wow yacht that they were building. And they didn't get that. We kind of rebranded it with the double T.

But so, you know, I actually think about all these guys that did take their salaries in Bitcoin. There was kind of that moment, you know, I think Saquon did, I think OBJ took his salary in Bitcoin. And I wonder what the tax implications were of that, if they could even hold it. Because if you took your salary in Bitcoin, you still got to pay your agent, your taxes. I don't know, everybody's got people, right? So like, imagine, don't you have to kind of maybe sell at a loss to pay the taxes for getting paid in the Bitcoin? That still seems really, really clunky to me.