This Bitcoin Deal Will SHOCK You – Price Is About To Explode!

**Scott Melker** (0:00)
We just saw one of the biggest deals, at least regarding institutions and Bitcoin, that we've seen announced, period. It is actually shocking when you dig into it. Hard to imagine that it won't help push the price of Bitcoin up. Of course, I'm talking about Cantor Fitzgerald alongside Tether, Bitfinex, and SoftBank with Jack Mallers as the CEO to basically replicate on a larger scale what MicroStrategy and Michael Saylor are doing. Absolutely huge news. We're going to break it down today, of course, with Yago and special and very frequent guest, David Duong from Coinbase. Let's go.
What is up, everybody? I'm Scott Melker, also known as The Wolf Of All Streets. Before we get started, please subscribe to the channel and hit that like button. Gonna bring on David and Yago. Now, this is obviously the story of the day. I don't think there's a question about that. Cantor starts crypto firm with backing from Tether and SoftBank. As we dig into it, they're gonna start with about 42,000 Bitcoins, so about $4 billion worth of Bitcoin. Already talking about raising convertible debt, going full micro-strategy. Jack Mollers is also the CEO of Strike, is going to be the CEO of this company. And I think maybe the most shocking part to me is that SoftBank is contributing $900 million in Bitcoin. And at no point had I seen that SoftBank had $900 million in Bitcoin, so that either means they've been holding it quietly or they're buying it. I mean, that could be a part of this kind of steady bid we've seen. But David, I mean, this seems like an absolutely huge piece of news to me.

**David Duong** (1:55)
Oh, absolutely. I think this definitely legitimizes Bitcoin further as a treasury asset for a lot of these major public companies. So I think that we've been seeing it move this direction for a while now. And I'll be honest with you because it was kind of used more speculatively rather than as a cash management tool. I think there was kind of questions around what, you know, corporate accumulation would actually look like. But now I think that this is actually something that's going to set a pretty high floor on Bitcoin. I mean, we were kind of going that direction anyway over the course of the week. But now I think this locks it in and a much higher entry point for a lot of the new players.

**Scott Melker** (2:31)
It's interesting here, Yago, he said, we're very inspired and encouraged by what MicroStrategy, this is Jack Mahler's, and other publicly have been doing in the public market. He says, we're not a pivoting business. We're not a business that sells video games to buy Bitcoin. Obviously, Shots fired at GameStop. We're not a, you know, and to buy Bitcoin or sells hotel reservations to buy Bitcoin. I mean, he's not even criticizing MicroStrategy directly. He's friends with Sailor, but he's saying, I mean, Sailor has an underlying software business, right? That still exists at MicroStrategy. It made him a billionaire in the first place. And then he says, our Treasury is not trading at any premium to net asset value. So we believe it's a very attractive vehicle for those are looking for Bitcoin exposure. And we think it could be one of if not the winner of this trend. So he's basically also saying this isn't going to be like MicroStrategy where it's trading at many multiples to our Treasury. Kind of interesting because this is a lot of money.

**Edan Yago** (3:25)
I don't know how the strategy works if you're not trading at a premium, right? If you're not trading at a premium, then there's nowhere for you to generate yield from. And you're basically just a closed fund ETF, basically your DCG.
I think there's a couple of interesting things here. First of all, the players that are coming together, they need to be able to send a very, very clear signal to the market of credibility. And there's two kinds of credibility here. One is like Michael Saylor, we have a very definitive strategy. We will not move away from that strategy over time. That is extremely important. We have Saylor. Saylor is able to sell that story because he's been selling that story for the last five years. To do the same thing, they had to bring on Taylor, who have a very, very clear strategy. Cantor Fitzgerald, who have an in with the White House. We don't get much more in with the White House than that. And Jack Mallers, who I think is a great figurehead and CEO for this, because he's very, very media savvy and also has been very, very clearly tied to Bitcoin and Bitcoin only. And then on the other side of the credibility is, can we bring in substantial amounts of capital? Are you, when you are buying into this, do you know that there's going to be continued growth because it is basically that growth which is generating the yield and then being able to bring in the deep pockets of SoftBank, the people who are willing to send $10 billion or $20 billion to WeWork and Uber is a very, very strong signal. So I think this is a masterful play and obviously, they're much smaller than MicroStrategy.