Is A Bitcoin Supply Crisis Incoming? Michael Saylor Is Buying Everything!

**SPEAKER_1** (0:00)
Is a Bitcoin supply crisis incoming? I would actually view that as a good thing, not so much a crisis, but I like it. Why? Because Michael Saylor is buying everything. It's absolutely insane what he is pulling off right now with his infinite money glitch. I'm gonna break all of that down for you and everything else going on in the news right now. Let's go.
What is up, everybody? Welcome to the show. My ear fell out.
This one, I've got an ear. It looks really cool. This one, less cool. Now I can hear everything happening around me, which is great. And also we have Peter Chear scheduled to join today as the guest who we've had here many times. Absolute macro, expert and legend, works with generals, was planning to ask him all kinds of questions about macro and Iran, and now I'm alone. So what you get is an impromptu solo show from yours truly, which is great because it's basically an excuse for me to practice for my new show, The Daily Wolf on Yahoo Finance every single day at noon for 15 minutes.
That's going to be our commercial for that.
That starts on Monday, 420, by the way, 420, Monday. That's going to be the first time we've been running dress rehearsals. It's going amazing. It's perfect, and I can't wait for you all to watch it, because that's going to be me completely unhinged 15 minutes a day on mainstream media. Guess we could start today by taking a quick look at the market. We have the Bitcoin trading at $74,000, Ethereum at $2,300. We had this interesting scenario yesterday where Ethereum was actually outperforming Bitcoin to the upside. There was a point where Bitcoin was up 6% or 7% in 24 hours, and Ethereum was like 12% or 13%. Even at the daily close, I think it was up 3% more than Bitcoin. Of course, now underperforming slightly after the rejection there on the upside. I mean, I don't have the Bitcoin chart pulled up. I can go ahead and do that since we're ringing it today. But pretty clear to me right now when you take a look at the chart what's going on. Let's hope this is the right one. And that is that we have a very strong level here.
Of course, we can look at the one at 74,000 there. But if we're taking a real look, we can draw a new line, I think, on this chart, which is from that March high that we just recently had. We can pop it in right here, right about 76,000, and that's the line, right? And you can see that if you drill this in on the daily from the weekly here, that that's exactly where yesterday's move was rejected. I mean, almost to the penny we put in a high, that's a disgusting daily candle. I'm not saying that the top is in. I'm saying that it's hard to get really excited until we start clearing these important levels and seeing higher prices. But I did find yesterday particularly interesting because it was one of those rare unicorn days where we did see something other than Bitcoin outperforming. So what does it mean when Ethereum actually outperforms?
To me, it means that A, people are more willing to take risk. Within the circular crypto economy, we know that you can basically view Bitcoin as like a bond, right? It's the risk-free rate. It's the benchmark that you need to beat to do anything else. So when there's a flight to quality or flight to safety within the crypto community, people sell their altcoins and they buy Bitcoin. So we largely see Bitcoin outperform to the downside. And then we largely see people fumbling into Bitcoin on the upside. So on days where Ethereum is outperforming, we saw 41% week-over-week increase in Ethereum transactions. I did all this research for my test run of The Daily Wolf yesterday in case you're wondering. So you can actually get data there and stuff. So I'm theoretically prepped. 41%, we had Ethereum ETF inflows actually outpacing Bitcoin ETF inflows, which was a very interesting scenario. And we have clearly a risk on environment with stocks back up to nearly all-time highs and people shrugging off any concerns about the war. So I don't know if there's much signal there or not. But we are having at least days here where we see the broader crypto market performing either in line with Bitcoin or even outperforming. So I thought that that was really interesting. But the story of the week, and there is no other story. We're going to dance to Skate To One Song and One Song Only, Lady Humps, by Michael Saylor.