Tom Ellsworth
👤 SpeakerAppearances Over Time
Podcast Appearances
Rob, where's Bitcoin at right now?
Bitcoin crashes to around $60,000 as historic free fall worsens.
$68,000 is back up a little bit.
Prices down over 50% over four months.
This week, equities.
Yesterday, equities, nearly $600 billion lost in equities because of AI.
I think crypto this week lost $500, $600 billion.
$2 trillion since the high in October.
Tom, what's going on over here?
So what has happened is, remember crypto...
IT'S GOING TO BE A HEDGE AGAINST INFLATION.
IT'S GOING TO BE AN ALTERNATIVE TO FIAT.
IT'S GOING TO GO THIS WAY WHEN THE MARKETS GO THAT WAY.
HERE WE HAVE THE BIG TEST.
WE'VE GOT LAYOFFS, WE'VE GOT GOLD, WE'VE GOT THE U.S.
DOLLAR WEAKENING, WE'VE GOT A K-SHAPED ECONOMY WHERE THE CONSUMER IS INCREASINGLY UNDER STRESS.
Whereas Wall Street with PE, especially in tech, has been doing okay.
And so we're all waiting for the shoe to drop.
The shoe to drop is the market and some economic things and some layoffs and everything.
And all of a sudden, Bitcoin goes with it.