Bitcoin Is Up 32% This Quarter - And The Market Still Doesn’t Believe It | Haseeb Qureshi

Scott Melker (0:00)

Bitcoin is up 32% this quarter, and the market still does not believe it. People still seemingly bearish, not believing that Bitcoin could possibly come back, not realizing how much bullishness there is from the SEC and CFDC still, which means to me, we are still very early in this bull market. We got a lot going on today. I have my friend Haseeb Qureshi from Dragonfly joining in a few minutes. Then Roundtable CEO James Heckman will be joining to talk about a huge announcement they have. And then of course, towards the tail end, we will have the weekly reckoning because it's Friday. Let's go.

Good morning, everybody, and welcome to the show. I'm here with my beautiful Studio City background. There's a wolf over my shoulder. He's howling, and it just feels good to be Friday. Hope that you're all having a wonderful day as well. The LaCroix actually slipped into the opening shot on that one. I would like you to know that they still haven't paid me.

But they can. They can. Because I showed their can. Said can. Gonna drink that.

You know, I'm gonna be honest. I don't even know it's the best drink. There's better ones. It doesn't taste particularly good. Please edit this part out.

It's just become a gimmick. And it's part of what we do here as we talk about LaCroix. All right, so you guys don't want to talk about LaCroix. What you probably do want to talk about is my amazing interview with Brian Armstrong that aired yesterday on Yahoo Finance.

I'm not saying that the guy knows things, but he probably knows things because he said in an interview that we recorded on Wednesday, the day after the Clarity Act failed for Thursday, that don't worry about it. The SEC and the CFTC are gonna step in, and the SEC literally came out with their innovation exemption yesterday, which we will dive into. But the biggest hits for me from the Brian Armstrong interview, which by the way, we will also release on my YouTube on Sunday as our long form podcast with a little extra, extra in there. So we'll hit all the audio channels, everything. But what I really got from him was that Clarity's dead. And of course, now we've seen Tom Tillis say it's not dead, but Lumis now who has said for years, if we don't do it by this day, it's dead to say maybe it's not dead. Tom Emmer from over in the house, majority whip or whatever he is, like literally like an S and M job of some sort. The majority whipper that didn't bland, bland tended to, oh, he's the majority whip. He's saying that it could still get done this year. We had that clip from Holly that I showed you yesterday. Yes, he said ag, not eggs. And I was yelling about eggs. He was saying ag. He just has a dumb accent or a dumb face, dumb comments. And he says it could get done. So maybe it can, but to me, I default to, you know, Jules in Pulp Fiction. Say Clarity Act one more time. I dare you, I double dare you. Nobody wants to hear about it anymore. Clarity Act to me is dead. Say what one more time? Say Clarity Act. Okay, so before Haseeb joins, we could talk about what's in the title here. Bitcoin weather September storm is rate hikes and Clarity Act setback test bulls. The price of a Bitcoin right now is $78,000.

To me, that is really, really, really, really good news considering that we got rejected here on the Clarity Act, that rates went up and Bitcoin continues to hold exceptionally strong. Like I said in the intro there, Bitcoin's up 32% this quarter, and nobody's even paying attention. It's like it doesn't even exist, and it's happening consistently with bad news. So I told you in my opinion that we had likely bottomed because bad news stopped mattering, right? Saylor was selling Bitcoin, 1000 plus Bitcoin at a clip. We have exchanges collapsing. I mean, I think another exchange just collapsed this week, CoinX, SendX, BitMart, BitMEX, a lot of Xs. Which is what they now are, X exchanges collapsing. And none of that mattered. Market just kind of stayed flat, and then we got the massive pump, and we've stayed there. That is really good news. Like if I told you a few months ago, when Bitcoin was sitting at 68-ish thousand or 65, excuse me, 64, that we were going to get the Clarity Act rejected, which by the way, I did tell you like for most of the year, but whatever, it's not like me being right is important. I'm right always. It's important.