Bitcoin Just RIPPED To $64K – AI’s $7 Trillion Debt Bomb Is Next

**Scott Melker** (0:01)
Bitcoin ripped above 64,000 today before retreating back into the 63s. But interestingly, it's happening while the Korean stock exchange is once again crashing, and we're starting to talk about bubbles and tops in AI with some of the Mag-7 retreating. Is Bitcoin finally showing some relative strength, and can we expect it to continue? The truth is, nobody knows, but I'm still gonna put Andrew and Tillman on the spot and get their opinions on it, which is all that really matters. Let's go.
Good morning, everybody, and welcome to my ethereal mansion by the water here in the cloud city of I have no idea where. I never know what's gonna be back there. Producers surprised me in some days. It's just shocking. You guys should be here, but you're not, unfortunately. I wore my black jersey today that OKEx had sent me for the World Cup to mourn the MNT's loss yesterday. I've been watching this game. They call soccer football for most of my life. I played pretty seriously when I was a kid. That was the single worst performance on a world stage I've ever seen by any team ever.

**Andrew** (1:29)
Well, in the immortal words of Bobby Boucher, I would say, foosball is the devil, all right? Foosball is the devil.

**Scott Melker** (1:39)
It's the devil.

**Tillman** (1:44)
I went to a family reunion in Alabama, and my wife's uncle came up to me during the party and goes, You've been watching any of that kickball? They've been watching everything.

**Scott Melker** (1:58)
I'll just tell you, in summary, the first goal Belton scored, he had four guys standing around who watched it bounce.
There's one rule in defense, don't let the ball bounce in the box. Four guys watched it. And then when the goalie came out and decided to chest the ball and then kick the ground, and then Belgem scored a goal from 50 yards away while our defender literally apparently didn't know how to put his leg out. Maybe the least athletic thing. So anyways, anyways, it's not soccer anymore. And it's fine. I think the whole controversy, it like gave Belgem a little fire.

**Andrew** (2:32)
Sure. Yeah, sure. Absolutely. A little extra motivation. And, you know, FYI, when you win a game four to one, they're just better than us. Yeah, there's also that, you know, if it was a two to one and and, you know, one of them was on a penalty kick or something, then OK. But it was four to one might as well be 52 to seven in actual real football here in the United States.
So, yeah, not a great showing, not a great showing at all.

**Tillman** (3:01)
OK, well, I think you gave everybody something to do. Distraction for a good week or two.

**Scott Melker** (3:08)
Yeah, it's speaking of distractions. Bitcoin rebounds after Trump says he's become a big crypto guy. I don't know if you guys saw this, but somebody asked him, you know, the Trump accounts, which I think are, I think it's amazing, obviously, to like give children investments. Somebody asked him if there was a chance Bitcoin would be in the Trump accounts. He said, oh, big crypto guy.
And he went full Trump. So, by the way, just for those, because I've seen it reported that, of course, that's a headline that people will grab and be like, we're getting Bitcoin in the Trump accounts. We literally can't. It would require basically an act of Congress for that to be possible. Like they can't do it. Right? You're not allowed to put spot Bitcoin assets inside of these investment accounts. They can do broad indexing ETFs and certain things, but that's not happening.

**Andrew** (3:55)
Yeah. Spot Bitcoin in those accounts isn't going to happen, whether or not ETF wrapped Bitcoin is another part of the conversation because ETFs are ETFs. But the 47 people left on crypto Twitter, of course, are going to grab this headline and squeeze it and hope that it's warm and soft and feels good.
It's been a rough, it's been a rough six to nine months. It has, even though, you know, we can talk about all the qualifiers that you want, that, you know, still 64, 63, wherever we're at this morning is effectively the top of the last cycle. I can only say that so many times, it just starts to just ring hollow. We are where we are and it feels the way that it feels. I will say, you know, a ray of hope after 4 billion in movement out of Bitcoin ETFs, there was, you know, I think 200 million that got tossed in.

**Scott Melker** (5:00)