made news on monday saying it allowed the use of crypto currency u.s.d. coin to settle transactions on a payment network so tying that with the pay pal news how do these moves by these companies move the crypto space forward well i think it does move the critical space for it is interesting here because with these is doing is they're working with a very specific kind of crypto which is as you said is the u.s.d. coin basically it's a what's called a stable coin it matches whatever the value of the u.s. dollar is at the time is tied to the actual coin itself so it doesn't fluctuate as much as others because of that announcement went up and went up but it doesn't actually affect that quite or theory it is just another example of how digital currencies are becoming a part of the landscape so visa's doing something very different than one bastard card is doing master cards working with more crypto currencies these is keep it to that u.s.d. coin even so though it does move the whole space forward because it creates more of a mainstream usage of crypto which sho

made news on monday saying it allowed the use of crypto currency u.s.d. coin to settle transactions on its payment network so tying that with the pay pal news how do these moves by these companies move the crypto space forward well i think it does move the bill space for it is interesting here because with these is doing is they're working with a very specific kind of crypto which is as you said is the u.s.d. coin basically it's a what's called a stable coin it matches whatever the value of the u.s. dollar is at the time is tied to the actual coin itself so it doesn't fluctuate as much as others because of that announcement went up and went up but it doesn't actually affect that quite or theory it is just another example of how digital currencies are becoming a part of the landscape so visa's doing something very different than one bastard card is doing master cards working with more crypto currencies these is keep it to that u.s.d. coin even so though it does move the whole space forward because it creates more of a mainstream usage of crypto which shoul

this move into the crypto space for pay pal. yeah i think it's a pretty big move certainly it's a big move for pay pal is actually a good move for for people who hold their any kind of bitcoin like coin theory i'm becoming cash those are the currencies right now so here's how it works with basically pay pal is saying is if you hold those particular forms of crypto if you go to check out from pay pal with any one of its 29000000 merchants around the world you will be able to use your crypto currency by converting it into fee to make the payments so in some ways it's like pay pal is taken on the role of an exchange because they're taking your your bitcoin or crypto currency select ones and it's converting those currencies into right there at checkout the merchant gets the feel and pay pal is making the conversion for you and taking a fee so it's actually a pretty good system in terms of creating some real world usage for crypto i got news for you if your pay pal is the name most people who hold big are not going to spend it but th

is exactly what it seems like especially when you're talking about the world of crypto and whether or not the i.r.s. has a lot of familiarity with that now ben as jeffrey mentioned crypto can be very confusing are there people who are facing legal action and they don't know that they've done anything wrong. well that's that's possible remember that when we talk about tax evasion tax evasion has to be a willful act which means that you know you're doing something wrong and you're trying to get around the laws that you know that are in place if that is if the i.r.s. is sincere about what they're going after and that's what they're going after then no i don't think there's a lot of people necessarily that would be in trouble here because if you don't know you don't know the question will be whether or not the i.r.s. and i'm skeptical of this will attempt to make an example out of people because ultimately what they want to do is discourage multiple kinds of crypto currency and they start trying to really focus down on just one or 2 to say you know let's let's make big points to preen bec

is exactly what it seems like especially when you're talking about the world of crypto and whether or not the i.r.s. has a lot of familiarity with that now ben as jeffrey mentioned crypto can be very confusing are there people who are facing legal action and they don't know that they've done anything wrong. or that that's possible remember that when we talk about tax evasion tax evasion has to be a willful act which means that you know you're doing something wrong and you're trying to get around the laws that you know that are in place if that is if the i.r.s. is sincere about what they're going after and that's what they're going after then no i don't think there's a lot of. people necessarily that would be in trouble here because if you don't know you don't know the question will be whether or not the i.r.s. and i'm skeptical of this will attempt to make an example out of people because ultimately what they want to do is discourage multiple kinds of crypto currency and they start trying to really focus down on just one or 2 to say you know let's let's make big points to preen becaus

made news on monday saying it allows the use of crypto currency u.s.d. coin to settle transactions on a payment network so tying that with the pay pal news how do these moves by these companies move the crypto space forward well i think it does move the cripple space for it is interesting here because with these is doing is they're working with a very specific kind of crypto which is as you said is the u.s.d. coin basically it's a what's called a stable coin it matches whatever the value of the u.s. dollar is at the time is tied to the actual coin itself so it doesn't fluctuate as much as others because of that announcement went up and went up but it doesn't actually affect that quite or theory it is just another example of how digital currencies are becoming a part of the landscape so visa's doing something very different than one baster card is doing master cards working with more crypto currencies these is keep it to that u.s.d. coin even so though it does move the whole space forward because it creates more of a mainstream usage of crypto which shoul

is not backed by anything does of dismissal of crypto hurt the industry in any way. no no we've been hearing this nonsense for 11 years so there's not a single becoming owner hasn't been told by you know a great uncle that don't buy that assad backed by anything so the answer is that it is backed by an extraordinary ledger technology that keeps for a careful track of ownership rights and allows a geographically noncontiguous chance transfer of those rights between any 2 people in the world peer to peer without financial mediation and does so cheaply and rather quickly so that that is the underlying value so a chairman you know listen to that but i tell you what i find so easy about this guy and he's like well it will never be a substitute for the dollar it's more like gold more like gold that's exactly what carter's been safer to need. to say is more like gold gold pretty awesome for 6000 years has been a trusted safe haven asset the basis of the monetary system during the world's greatest economic expansion when the 19th century and a good part of the 20th century o

with tax season in full swing in the interest in crypto currencies at an all time high the i.r.s. is looking to get its cut with a new program aimed at targeting taxpayers who haven't reported their crypto related income it's called operation hidden treasure and according to the agency's director of the office of fraud enforcement damon rowe it will train i.r.s. agents to look at block chains to root out tax evasion among cryptocurrency users so what does this mean for the future of crypto and how will this crackdown take place i mean out of the jazz's boom bust co-host and investigative journalist ben swan and jeffrey tucker editorial director of the american institute for economic research all right ben i'll start with you here i know you probably have a lot to say about the name of this program in and of itself so what do you know about operation hidden treasure and how will it run. its kind of an interesting name is it operation hidden treasure as if it's something that is. being hidden from the i.r.s. in some cases i guess it is but the problem of course is going to be the fa

boom bust co-host christi i kristie in layman's terms how does crypto currency work. well crypto currency at a very pure and simplest form is a peer to peer form of payment that can be exchanged online for goods and services and there's uses a technology called block $10.00 which is a decentralized technology spread across many computers that manages and record these transactions in an immutable ledger so because of the security and permanent digital permanence that the ledger is documented and copied across all these computers and that's a big part of the technology the feel this means that no one person no one entity the organization owns the block and can have control over it and that's really the big difference between crypto currency that other kid if you're forms of pain and things like paper our vendor yes they kind of do the same thing they do payments in exchange for goods and services but the big difference is that paper and pen and square and all of these other forms of payment they're centralized entities and they dictate a limit of who you cannot can or c

what does this mean for the future of crypto and how will this crackdown take place i mean out of the gases boom bust co-host and investigative journalist ben swan and jeffrey tucker editorial director of the american institute for economic research all right ben i'll start with you here i know you probably have a lot to say about the name of this program in and of itself so what do you know about operation hidden treasure and how will it run yeah it's kind of an interesting name is it operation hidden treasure as if it's something that is being hidden from the i.r.s. in some cases i guess it is but the problem of course is going to be the fact that suddenly after years of not really caring about crypto the i.r.s. is obsessed with it and they want to make sure that they're getting their share so here's what we know parents the agents are going to be trained to look at block chains they say to root out tax evasion and get this apparently they're going to be working with private contractors and also with vendors to presumably develop signatures what they're calling the signatures or tel

>> i think it's actually a good thing for crypto, emily. first off, coin-based listing, it's a defined moment for industrial, why? if you look at the source of funding that are shaping industry, it's like selling tokens for future cash flows. for rental capitalists, for the first time, they saw a company that is incubated, go all the way to public market listing $7 billion or plus. for venture capitalists, what the space could mean. we are seeing a very good influx of high quality money. i think that's very powerful. the second part of the question that you asked in terms of what does it mean, institutions in general are looking for better regulatory clarity. if you look at what's going on, some are not available, but having 5% of expectations around market data and integrating, how trades are reported, all these things, the clarity around that is going to be very powerful for institutions in general for approving things like best execution. while the delay is pushed off by two, three, four weeks, it's actually a welcomed change for institu

is not backed by anything does of dismissal of crypto hurt the industry in any way. no no we've been hearing this nonsense for 11 years so there's not a single becoming owner who hasn't been towed by you know a great uncle that don't buy that a sub backed by anything so the answer is that it is backed by an extraordinary legit technology that keeps free trade careful track of ownership. and allows a geographically noncontiguous chance transfer of those rights between any 2 people in the world peer to peer without financial mediation and does so cheaply and rather quickly so that that is the underlying value so the chairman you know listen to that but i tell you what i find so easy about this guy and he's like well it will never be a substitute for the dollar it's more like gold more like gold that's exactly what carter's been safer to. me to say is more like gold gold pretty awesome for 6000 years has been a trusted safe haven asset the basis of the monetary system during the world's greatest economic expansion when the 19th century and a good part of the 20th centur

a warning from crypto mom. she's here next live on the one mistake that she says issuers of nonfungible tokens better not make. closing bell ringing in 26 minutes. we're coming right back. ♪ ♪ with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) [announcer] durán catches leonard with a big left. ♪♪ you can spend your life in boxing or any other business, but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ ♪♪ ♪♪ liz: well, put your cash and credit cards away, paypal now giving shoppers the chance to, quote, check out with crypto, a new feature unveiled today the that allows u.s. customers to buy items from merchants us

is not backed by anything does of dismissal of crypto hurt the industry in any way. no no we've been hearing this nonsense for 11 years so there's not a single becoming owner who hasn't been towed by you know a great uncle that don't buy that a sub backed by anything so the answer is that it is backed by an extraordinary ledge a technology that keeps strict or a careful track of ownership. it's an allows a geographically noncontiguous chance transfer of those rights between any 2 people in the world peer to peer without financial mediation and does so cheaply and rather quickly so that that is the underlying value so the chairman you know listen to that but i tell you what i find so easy about this guy and he's like well it will never be a substitute for the dollar it's more like gold more like gold that's exactly what carter's been safer to. me to say is more like gold gold pretty awesome for 6000 years has been a trusted safe haven asset the basis of the monetary system during the world's greatest economic expansion when the 19th century and a good part of the 20th

government crackdown on crypto could be a detriment to stocks? mike: gary is going to be great for crypto. gary is smarter than a with. he understands bitcoin, he taught a course at m.i.t.. i actually went to his lectures. clarity around the rules can only help the space. jay powell just didn't want to deal with bitcoin, didn't want to deal with crypto. so we just kept punting it. now, we have an sec chair who is going to do with it head on. a clear set of rules is nothing but bullish in this space. emily: let's talk about bullish. the ceo was on the show yesterday and said he think that is going to get to $1 million within a decade. do you still think against a $100,000 before the end of the year? and what you think about $1 million within 10? mike: my brain is this big. not this big. so i can think and 1, 2 year horizons. i think against $100,000 or higher by the end of the year because i see all these new participants. if it doesn't, it will be there next year. i am not so concerned. what is interesting to me is that the downside has been take

what are crypto industry leaders doing about it? oh, they're on the move. charlie gasparino has it next. stay with us. many. ♪ ♪ ♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa it all starts with an invitation... ...to experience lexus. the invitation to lexus sales event. lease the 2021 is 300 for $359 a month for 36 month's and we'll make your first month's payment. experience amazing. this is decision tech. find a stock based fi on your interestst. or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. - as the original host of wheel of fortune, i was blessed to be part of building one of the greatest game shows in history. during that time, we handed out millions of dollars to thousands of contestants. i thought, what if we paid the contestants their winnings and gold instead of cash and priz

. ♪ ♪ romaine: the talk of this this week, and we did not talk about crypto. morgan stanley, at least its rich clients, with bitcoin. what about the poor clients? joe: finally the rich clients can get access to bitcoin. and that has been the story for a while, people talking about the diversification. even saying, this is the new 60/40. romaine: who said that? joe: i literally made that up when i saw the chart. i want to bring in coin shares team strategy officer, milton. is this the new thing, just add 1% of your portfolio to bitcoin and everything suddenly takes care of itself? >> j.p. morgan says wind and we did some research where we saw you are better off with four, so i'm going to be aggressive and safe for, which is four times one, believe it or not. romaine: this is interesting move here, we have already seen this sort of move already with folks adding this to their portfolio and has a legit asset and as -- if you have a big portfolio and also trying to balance out the risk, do you think there is adjustments that still need to be made given some of the

there's been teammates talking about crypto money i've had friends talking about crypto money, and i never really understood it. during the season that crypto stuff, i'm live, i'm not digital during the season. football is live so i was like, yeah, that's sweet and everything i didn't know much about it. and now that the season is over, adam, joe from medium rare came to me and told me about these nfts, nonfungible tokens, and how crypto money works, how this is all working and everything. i'm not no expert or anything but i'm starting to learn about it now and i'm starting to understand it and i saw a good friend who just had one of the biggest nfts in history and i took a lot of advice and feedback from him on how to do things throughout these nfts so adam, joe, blou they helped me drop one of my first nfts and be one of the first athletes to. the auction is live now and it will be a success. it's going to be amazing >> yeah. we're looking at the site right now looking at some of the high bids coming in adam, rob is clearly the intellectual property here can you discuss the busines

and thousands of man hours to build out over the past 50 to 100 years are available with crypto it's a it's very very nascent it's very very simple my view is that all this stuff goes underground and it disappears behind the scenes in the i.t. and the i.t. labs the major banks and they basically strip it for parts and start using it for themselves all this talk about creating mainstream usage and implementing it so i don't i go to cross the street to the bodega and i buy a sandwich with bitcoin it's not going to happen there are methods that you could use associated with that but all those methods have to be regulated you're going to be in a situation where a vast majority of the stuff requires know your customer information i have to send my picture at the sun no d.n.a. samples and also the crazy stuff to these exchanges just to do business with them and it's only going to get worse unless it basically said get subsumed in the entire banking system and all these images that you're showing right now the big question a.t.m.'s and also the stuff goes away because. as it stands the curr

crypto space has been all private. you have to speculate about how the public market would value these businesses. i think it will be for the entire private market. i think it was and valuations of other crypto currencies even higher. >> what you think about in terms of your own ipo? there are reports that this could be a possibility as early as next year. what is the plan for yourself? >> we are on track to go public next year, probably the second half. there is a lot of time between now and then. anything could happen in the crypto space. no guarantees at the moment but we are gearing up to be able to do that. unfortunately, the rules with the sec as they are today -- fcc keeps our client from being able to just been in the business. >> what does gearing up involved? does that mean you will be raising more money before going public? jesse: it is possible. it's not necessary, we've got a strong balance the sheet and the company is profitable. raising more capital at this point would be about doing more acquisitions. i

>> i think it's actually a good thing for crypto, emily. first off, coin base listing, it's a defined moment for industrial, why? if you look at the source of funding that are shaping industry, it's like selling tokens for future cash flows or rental capitalists, for the first time, they saw a company that is incubated, go all the way to public market listing $7 billion or plus. for venture capitalists, what the space could mean. we are seeing a very good influch of high quality money. i think that's very powerful. the second part of the question that you ask in terms of what does it mean, institutions in general are looking for better regulatory clarity. if you look at what's going on, some are not available, but having 5% of expectations around market data and integrating, how trades are reported, all these things, the clarity around that is going to be very powerful for institutions in general for approving things like best execution. while the delay is pushed off by two, three, four weeks, it's actually a welcome change for institutions

how high will bitcoin go the crypto currency has just hit another record and demands on the virtual coins is only rising so could it one day become a real currency something we use in everyday life this is inside story. hello and welcome to the program today with me peter w. one man's pizza bought with 8 to bitcoins in 2011 was worth just a few cents way back then now that very small amounts of the virtual currency is equal to around 480000 u.s. dollars that's how much big coal in the skyrocketed hissing and you all time high of $60000.00 as of saturday just to be clear that's one coin so cold now worth $60000.00 the surge is mainly fueled by a growing number of institutional companies embracing this virtual currency is also thought to be driven by the approval of president joe biden's $1.00 trillion dollars stimulus package in the u.s. it's fear the pandemic relief bill will push inflation higher in effect devalued the u.s. dollar and the digital currency is seen as a good hedge against all of that but critics warn cryptocurrency is are a bubble on track to burst the money asset has a re

how high will bitcoin go the crypto currency has just hit another record and demands on the virtual coins is only rising so could it one day become a real currency something we use in everyday life this is inside story. hello and welcome to the program today with me peter davi one man's petes bought with 8 to bitcoins in 2011 was worth just a few cents way back then now that very small amounts of the virtual currency is equal to around 480000 u.s. dollars that's how much bitcoin the skyrocketed hissing and you all time high of $60000.00 as of saturday just to be clear that's one coin so-called now worth $60000.00 the surge is mainly fueled by a growing number of institutional companies embracing this virtual currency is also thought to be driven by the approval of president joe biden's $1.00 trillion dollars stimulus package in the u.s. it's fear the pandemic relief bill will push inflation higher in effect devalued the u.s. dollar and the digital currency is seen as a good hedge against all of that but critics warn cryptocurrency is are a bubble on track to burst the money asked. it has

is not backed by anything does of dismissal of crypto hurt the industry in any way. no no we've been hearing this nonsense for 11 years so there's not a single becoming owner hasn't been told by you know a great uncle that don't buy that it's not backed by anything so the answer is that it is backed by an extraordinary ledger technology that keeps for a careful track of ownership rights and allows a geographically noncontiguous chance transfer of those rights between any 2 people in the world peer to peer without financial mediation and does so cheaply and rather quickly so that that is the underlying value so a chairman you know listen to that but i tell you what i find so easy about this guy and he's like well it will never be a substitute for the dollar it's more like gold more like gold that's exactly what carter's been safer to. me to say is more like gold gold pretty awesome for 6000 years has been a trusted safe haven asset the basis of the monetary system during the world's greatest economic expansion when the 19th century in good part of the 20th century of

plus, everyone seems to want a piece of crypto. i talked to the ceo of kraken about future plans to go public and demands for bitcoin. and it was one of 2020's top apps. timber -- tender offer it those lonely -- tinder offering those lonely and lockdown with a chance at love. all of those guests in a moment. first, u.s. stocks falling for a second day as traders weigh the consequences of more stimulus from the biden administration. >> a lot of red on the screen except for when it comes to big tech. you can see the s&p 500 index in the red, the nasdaq and the red. a lot of selling pressure. big tech rising above it. a lot of this was a reaction to yields. at one point, they were up six basis points. that is the kind of move that usually spooks your apple, microsoft, teslas. i also want to look at some of those capital fund related stocks. the idea that the biggest banks abroad were the ones that were more exposed to that blowup. the losses were immaterial, the likes of goldman sachs and morgan stanley, those were higher on the day.

we have seen crypto come off of it ties there. having peaked in february, a little off of it ties, still an incredibly six-month run. we will see. right now, it feels like everything is everything, it is all one trade. caroline: all one trade, but they are getting creative when it comes to nft's. there is a virtual house that sold for more than any real house really sells for, $500,000, here is the pictures of it. meanwhile, did you see the story about nft's for the new york times, then became an nft, and then sold for charity. it gets quite met up quickly. joe: $500,000 is a good deal for that fake house. joining us is priyanka desai, member of the nft focused dao, what is an nft focused dao? priyanka: great question and nft's are all the rage. dao stands for defensive autonomous organization, and you can think of them as curators or case makers of this emerging art landscape we are seeing. there is no leader, so basically people come together, pull their capital, and then democratically vote on where that capital goes and basica

mongolia has been a crypto favorite because it's cheap power helps. china has spent years trying to shrink mining. former french president nicholas are causing has been convicted of corruption and given a year in jail. he was found guilty of offering to have a magistrate do favors. he is charged with illegally exceeding campaign spending limits. his lawyer and a court official were also convicted. man must affect a leader has appeared via a video, accused of an additional charge of incitement. she has no legal team and what was her first appearance since being arrested last month. the army continues to crackdown, firing tear gas at demonstrators. that u.n. says at least 18 people were shot dead by security forces. to americans accused have been moved to japanese custody. michael taylor and his son peter face up to three years jail time. they argued that the allegations against them -- [indiscernible] they say they can face torture in japan. global news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analyst

is not backed by anything does of dismissal of crypto hurt the industry in any way. no no we've been hearing this nonsense for 11 years so there's not a single becoming owner who hasn't been towed by you know a great uncle that don't buy that a sub backed by anything so the answer is that it is backed by an extraordinary legit technology that keeps free trade careful track of ownership. and allows a geographically noncontiguous chance transfer of those rights between any 2 people in the world peer to peer without financial mediation and does so cheaply and rather quickly so that that is the underlying value so the chairman you know listen to that but i tell you what i find so easy about this guy and he's like well it will never be a substitute for the dollar it's more like gold more like gold that's exactly what big craters have been safer to. me to say is more like gold and gold pretty awesome for 6000 years has been a trusted safe haven asset the basis of the monetary system during the world's greatest economic expansion when the 19th century and a good part of the

the sec is looking into crypto, the treasury is developing regulations. this is such a new phenomenon, it is appropriate that regulatory agencies do their job. i cannot state whether or not the cftc is investigating binance, that is not for me to say, but i know that they are looking at, not investigating, looking at a lot of exchanges because it is the right thing to do and binance is just part of the general effort of the cftc to figure out what is going on because it is an exploding area. amanda: it seems to me, forgive me, it is obvious what binance wants to do. it claims to have no headquarters, there are concerns it is a big regulatory headwind. why did you want to be involved? max: one, it is an exciting new technology, it part of the future. second, i spent some time with the founder. i'm not going to join binance unless i am assured that what you do is on the up and up, following all the laws. he assured me that is the case and after a long conversation, that is my conclusion. in addition, i checked with lots of people who know a lot about binanc

and another week another all time high for big coin as the world's largest crypto currency topped out at just over $61000.00 it's been an incredible run for the digital currency even though as of monday it's fallen back to around $56000.00 so what continues to drive this incredible surge for big oil and will it come to an end anytime soon joining us now to discuss boom bust co-host and crypto analyst ben swan an editorial director with the american institute for economic research jeffrey tucker thank you both for being here it seems like every other monday we're in the same position talking about the latest meteoric rise of bitcoin so ben what happened. and what happened over the weekend to drive the price so i. see it's kind of interesting so we you're absolutely right we're talking about this all the time now it seems like every single week there's a new high and it's not just a new high right it's 5 to 10 $1000.00 higher than we were before which is a pretty significant jump and watching kind of move through this meteoric pace there's a couple things happening what is institutional

i started working for crypto, right, like once i discovered crypto i've been day in and day out working with crypto since 2013 only 2013, i made multiple stock tips but along the way the more important thing was the knowledge acquired about all of these companies that were growing in the space and the opportunity it gave me to enlist in them, not have equity, because that's still very hard to get into, right like it's -- it's only for a few people to get into the equity lines of a lot of companies but crypto gave me an opportunity to buy the space in high-growth technologies, right, like in the early stages so that's how mostly i made my money. yeah like my net worth, you know, it depends on the market, but, yeah i could say, i -- i don't want to give a specific number to my net worth that varies. but what i can say, most of money is not in nfts it's in other crypto >> hi, thanks so much for being here, vignesh. >> thank you >> we've been speculating that whoever bought this was doing it because they wanted to diversify their assets and have something else to put it in something besides

how high will bitcoin go the crypto currency has just hit another record and demands on the virtual coins is only rising so could it one day become a real currency something we use in everyday life this is inside story. hello and welcome to the program today with me peter davi one man's pizza bought with 8 bitcoins in 2011 was worth just a few cents way back then now that very small amounts of the virtual currency is equal to around 480000 u.s. dollars that's how much bitcoin the skyrocketed hissing and you all time high of $60000.00 as of saturday just to be clear that's one point so cold now worth $60000.00 the surge is mainly fueled by a growing number of institutional companies embracing this virtual currency is also thought to be driven by the approval of president joe biden's $1.00 trillion dollars stimulus package in the u.s. it's feared the pandemic relief bill will push inflation higher in effect devalued the u.s. dollar and the digital currency is seen as a good hedge against all of that but critics warn cryptocurrency is are a bubble on track to burst the money asset has a reco

we'll stick with nfts because our next guest is behind the first-ever piece of crypto, crypto real estate we have one. the world's only nft house, artist krista kim joins us now here on "squawk alley. krista, thanks for being with us what are your thoughts on sort of this nft tax that many have been unaware of? is this a conversation in your circles when you're thinking about selling pieces of nfts as art? >> basically right now i think the smart thing to do is not to cash out and to keep your funds in crypto and, you know, just wait till it's better tied to plan an exit strategy and have a proper tax plan in place with tax lawyers or professionals >> right but many people actually buying nfts like the buyer of people's digital work, are able to do so because they've seen incredible gains in cryptocurrency. so if they can't use their crypto, they shouldn't cash out, does that really limit the market here? >> no. i believe that a lot of people are basically, you know, hedging their values and investments in crypto right now right now the bull market is just starting, so basically people ar

and another week and another all time high for big as the world's largest crypto currency topped out at just over $61000.00 has been an incredible run for the digital currency even though as of monday it's fallen back to around $56000.00 so what continues to drive this incredible surge for big oil and will it come to an end anytime soon joining us now to discuss boom bust co-host and crypto analyst ben swan an editorial director with the american institute for economic research jeffrey tucker thank you both for being here it seems like about every other monday we're in the same position talking about the latest meteoric rise of bitcoin so ben what happened. and what happened over the weekend to drive the price so i. see it's kind of interesting so we're absolutely right we're talking about this all the time now it seems like every single week there's a new high and it's not just a new high right it's 5 to 10000 dollars higher than we were before which is a pretty significant jump and watching kind of move through this meteoric pace there's a couple things happening what is institutio

and cooked a lot it's it's just the same nearly but they only exist in the ditches to full term crypto are there's just this whole explosion around. i don't think many of us had heard of crypto art not long ago and now it is the big thing in the world what's going on where it's new it's fresh it's wasn't because of the auction at christie's maybe it's now a topic not only for this fringe group of odd. now it's available for us for everybody. but here is a few 1000000 absolutely and a lot of people are trying to experiment now with n f t sample. she created the series with new bone flying fighters and sold this op collection for $6000000.00 maybe you'll remember also this iconic cats and internet mean from levon the artist behind turn it was just creating and if t. out of her and sold this well fold millions so you can create nearly everything which is digital as an f t as an original a very exciting project was another one a very exciting into the it's a group of fans. bought this print from banksy and burned it in a live stream so that the physical art of work now is destroyed but thi

lawmakers are seeking to clarify federal regulations on crypto currency so what does that mean their digital portfolio will discuss that you've heard about the end of the phrase but how is the music industry in ball we're going to take a look at one company that's including fans in the music right marketplace we have a lot to get serious so let's get started. hours after signing the $1.00 trillion dollars stimulus package president biden said the goal for the u.s. vaccination efforts is to make every adult eligible by may 1st he described coded 19 as the latest war the u.s. is fighting us is still untangled in a number of wars right now biden highlighted the progress that has been made in recent weeks and said the goal is to allow small public gatherings as early as july 4th that says mean everyone's going to have that shot immediately but it means you'll be able to get in line beginning may 1 every adult will be able to get their shot to do this we're going to go for a 1000000 shots a day that i promised in december before ours was sworn in to maintain between our current pace of 20

bitcoin bump unfocused next what's behind it the chances of the rally last thing on who opposes the crypto currencies roys all ahead in moments in the latest boom bust. this is the one business show you can't afford to miss branch of war in washington coming up big oil price has yet again after a difference a major news from both institutional and national government straight ahead we get some expert analysis on the matter plus the fact the nation process in the u.s. just picked up even more steam as johnson and johnson's vaccine has been cleared for use we'll bring you up to speed on the rollout and where global numbers stand and later u.s. equities are rallying after a dismal week we'll break down the market movement with a packed show today so let's dive right in. and we lead the program with the latest in the world of bitcoin big coin has rallied again after dropping to its lowest price in weeks at a time of broadcast the world's largest crypto currency is now sitting just above $48000.00 after dropping to just over $43000.00 now even so consider this from last march until now the pric

for big oil and will it come to an end anytime soon joining us now to discuss boom bust co-host and crypto analyst ben swan an editorial director with the american institute for economic research jeffrey tucker thank you both for being here it seems like about every other monday we're in the same position talking about the latest meteoric rise of bitcoin so ben what happened. and what happened over the weekend to drive the price so i. see it's kind of interesting so we you're absolutely right we're talking about this all the time now it seems like every single week there's a new high and it's not just a new high right it's 5 to 10 $1000.00 higher than we were before which is a pretty significant jump and watching kind of move through this meteoric pace there's a couple things happening what is institutional investment we've talked about this a lot over the last few weeks which is that we see institutional investors coming in you know companies like tesla buying up $1500000000.00 micro strategies buying $1500000000.00 they keep placing orders it's remarkable master cards and it's getting in

has jurisdiction over a particular token or crypto currency so joining me now to go further in depth on this topic are boom bust co-host ben swan and christy i ben let's start with you here what specifically is this bill attempting to clarify. well there's a lot that needs to be clarified with that i'd say the number one thing is sure to me to clarify is when a token is considered a security and when it's considered a currency she right now the f.c.c. doesn't have very clear guidelines about this at all in fact one of the problems that we've seen over the last couple of years you'll have a token that's created and then the f.c.c. at the time that it's created won't be sure exactly what it is the way to a couple of years money is raised i c o's take place that's an initial coin offering or in some rare cases we've had things called s t o securities tokens offerings that take place people buy in and then the f.c.c. comes like a couple years later and says actually that was all illegal you weren't supposed to do that that's happened with multiple projects in the past so one of the probl

i think crypto has a real chance here. but people need to be careful x there really is no substitute for buying into good, quality u.s. companies. or foreign companies for that matter, right? >> i think you're absolutely right from an investor standpoint. a lot of when we talk about these cryptocurrencies, these fts, what we're talking about there is it's very speculative. you can make a lot of money, but you're going to get burned. we remember the tech bubble, all these companies that came out of nowhere. all you had to do was put dot.com in front of your name, and your tock would go through -- your stock would go through the roof. i even have concerns about bitcoin's sustainability. everybody's talking about it, it's the dirtiest currency in the world. all the energy it takes to produce the bitcoin, to transact the transactions,. [inaudible conversations] in the long one. >> i guess you're kind of in the same camp, right? [laughter] liz: yeah. well, india, of course, is saying let's ban all cryptos because we don't want

sonali: bitcoin has been such a big driver of crypto. where else are you seeing retail traders in the crypto markets? yoni: we have been big fans of a cerium as well. we have seen other cryptocurrencies gain currency. there are a lot of interesting developments within the crypto space and we are seeing significant engagement of users on etoro within the crypto market, available on our platform. guy: we will leave it there. thank you for the time today. really appreciate on such an important day. yoni assia, etoro ceo joining us out of tel aviv. and of course our thanks to sonali basak. next we will take it back to what is happening with volkswagen. stock is surging. we will talk to arndt ellinghorst. that conversation is coming up. this is bloomberg. ♪ ritika: this is "bloomberg markets." coming up, frank sorrentino at 12:30 in new york, 4:30 in london. this is bloomberg. guy: volkswagen up 1.22% today. that is the most in a year. quite a big swing for volkswagen. as we now know volkswagen planning to sell one million electric vehicles

preferred currency for international trade well joining us now to discuss just that is our panel of crypto experts boom bust co-hosts ben swan and christy i thank you both so much for being here i know you guys love talking about this so much christine i want to start with you let's talk about this is big point at a tipping point as some are saying. well this is a really interesting idea that citibank pose and it certainly is bullish for a bit quiet the fact that the international players now such as tesla master card pay pal and micra strategy have now publicly embraced i mean this could be the start of a massive transformation into the mainstream so big question which started out as a peer to peer payment has now transformed into its current status as a store of value and it's really has lived up to that being a tremendous store of value especially in the facebook pandemic and so its core properties combined with its global reach and neutrality it really could morph into the currency of choice for international trade so of course this will take some time but perceptions about what makes

over and over and over again it has to do with kind of institutional investors buying in there are crypto analysts who are watching this especially security securities and exchange analysts who are watching this who are saying that this week and what we saw was somewhat different and what they're saying is that possibly this is just the movement of coins by whales moving them into different exchanges and wallets so that might have driven some of the prices well not new investors necessarily mind then but the whales moving their their coins around and if that is the case then it could indicate that maybe some of that growth maybe has stalled. jeffery you know as ben just mentioned we're seeing a lot of big institutional investors making large purchases including micro strategy is making a 3rd round of purchases of bitcoin the question here is why is this so important and if institutional investors keep piling in are we going to continue to see this price rise. you know i'm feeling pretty pretty good about the firmness of all the gains we've seen over the last 6 months it's actually feels r

yeah but i'm crypto 'd i mean i guess gary gensler could be a positive in that yes that he is if he runs the s. and see if he believes the digital currencies are the future and they're all seeing i think it's important to recognize though that there has to be clear guidance given by the f.c.c. on these issues because at this point it's still very unclear what constitutes an initial securities offering that come through cryptocurrency so there's a lot of confusion about what that consists of you know one of the things again sort of said in the past he says that that crypto currencies are rife he says with scams well actually that's true that's not an untrue statement the problem is though is what does he classify as a scam does he believe that only certain group of currency should be allowed to exist and others should not i mean we don't know the answers to those questions and honestly about what exactly this crypto currency landscape will shake out to be in the future so we just don't know now and i am crypto currency exchange crack in theo has made headline mission what we listen and le

in crypto assets meaning trading volume susceptible to that that cuts both case as crypto assets continue to ascend volatility have i they are doing phenomenally well did in fourth quarter last year safe to imagine they are doing so right now, but their business model is not going to be a recurring revenue business model not o are a a mile there is going to be ups and downs part of the crypto category what is unique they are somewhat adverseed is -- diversified. >> i when you come back when they debut, on the exchange we can see how they actually do? >> a would appreciate that absolutely. >> happito. thank you very much amc positive reviewers after last night's reflection quarterly numbers beat top and bottom line estimates, shares move another 4% higher today wait till you hear, what ceo aaron just told me exclusively this afternoon, about the compact date he says his l.a. theatres will fire up popcorn pro rejectors sling back open doors could hill anticipated block the buster maverick be top gunning to superior over one crucial hollywood hurdle before any movie sources are exclusively t

has jurisdiction over a particular token or crypto currency so joining me now to go further in depth on this topic are boom bust co-host ben swan and christy i ben let's start with you here was specifically is this bill attempting to clarify. well there's a lot that needs to be clarified with that i'd say the number one thing is sure to clarify is when a token is considered a security and when it's considered a currency see right now the f.c.c. doesn't have very clear guidelines about this at all in fact one of the problems that we've seen over the last couple of years you'll have a token that's created and then the f.c.c. at the time that it's created won't be sure exactly what it is the way to a couple of years money is raised i c o's take place that's an initial coin offering or in some rare cases we've had things called s t o securities tokens offerings that take place people buy in and then the f.c.c. comes like a couple years later and says actually that was all illegal you weren't supposed to do that that's happened with multiple projects in the past so one of the problems is

to clarify when he asked the sea has jurisdiction over a particular token or crypto currency so joining me now to go further on the topic are boom us co-host bents ron christie i bang on start with you here what specifically is this bill attempting to clarify. well there's a lot that needs to be clarified with it i'd say the number one thing is sure to me to clarify is when a token is considered a security and when it's considered a currency to right now the f.c.c. doesn't have very clear guidelines about this at all in fact one of the problems that we've seen over the last couple of years you'll have a token that's created and then the f.c.c. at the time that it's created won't be sure exactly what it is the way to couple of years money is raised i c o's take place that's an initial coin offering or in some rare cases we've had things called s t o securities tokens offerings that take place people buy in and then the f.c.c. comes like a couple years later and says actually that was all illegal you weren't supposed to do that that's happened with multiple projects in the past so one of

>> i think it's clear crypto solves a problem for people who want asset exposure. as jesse said, there is a lot of inflationary dynamics from major currencies into money supply here in the united states, grew about 20% year on year, but as bill gates was quoted recently saying, bitcoin has a payment -- bitcoin as a payment mechanism is among the least efficient that man has ever created because as the price of bitcoin goes up, the energy consumption and carbon footprint of it, that mining that happens, that continues to scale aggressively also, and i think we cannot lose sight of the fact that one bitcoin transaction is the equivalent of about 75 gallons of gasoline being burned. emily: i'm glad you said that because bill gates said that on this show, said that he was not a fan of bitcoin specifically because of all the energy it uses. what is the solution? >> i am a fan of bitcoin, i just think we need to be clear what problem it is solving. as a store of value, i think it is exceptional. both bitcoin and i theory him -- and ethereum use proof to validate transact

he said we need to crack down on crypto fraud but he also praised crypto currencies. >> people are looking to provide payment systems that operate 24 hours a day and seven days aweek at lower cost both cross border and domestically. >> kate rooney joins with us the story of one big company betting big on bitcoin. >> paypal announcing an 70 in tax bit. it is a utah based start-up that offers software to help the crypto tax filing. it was part of a 1-million funding round announced this morning. in addition to paypal, tax bit is backed by coin base ventures, winkel base and bill actelman. currently paypal is looking to buy the crypto can be curve. they do custody. meaning they hold cryptocurrencies on their customer's behalf. paypal had been in talks to buy another crypto custody firm bit go but those talks reportedly fell through, paypal and bit go declining to comment paypal tells me the company is exploring m&a in the crypto space and is still talking to a number of start-ups. analysts have been expecting paypal to do some sort of m&a based on the level of cash on its balance sheet. they