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Bitcoin News: TESLA Buys 1.5 Billion in BTC (ETH Next?) - YouTube
Channel: BitBoy Crypto
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welcome to bitboy crypto my name is ben
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everyday on this channel i show you how
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to make money in cryptocurrency if you
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like money in crypto
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make sure to hit that subscribe button
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if you like bitcoin and ethereum
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and you want our youtube overlords to
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know to show this to more people
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make sure to smash that like button guys
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i don't have my gimbal
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uh thank you to the super bowl last
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night they took it i was really upset
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about it
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uh you think in 2021 that the nfl would
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want people to make content at the super
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bowl
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uh but i guess not so guys today huge
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huge huge news uh bitcoin
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pumping there's a very specific reason
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for this ethereum right behind it
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getting ready to pop off who knows
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ethereum could be 2000
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by the end of the day depending on how
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things play out uh but the the fact is
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something happened we're gonna be
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talking about that also guys uh
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i want to say my contest the buyback
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contest is over now
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i did finish in uh 10th place i turned
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four bitcoin into 17 bitcoin during that
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contest
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uh i really should have been higher in
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the rankings if you watch the channel
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you know why i wasn't it was just kind
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of like a
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mistake in the rules of the contest uh i
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really was up probably about 250 300
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that would be about 400 actually if you
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do that math
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but anyways uh the point is we drew a
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bunch of the money from buy bit last
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night we took some profits and so
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uh we're going to be starting the next
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leg of the competition we're going to be
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hopefully setting up an ethereum one
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soon
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uh so if you want to go ahead and uh or
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if you want to go and sign up for buy
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bit make sure to visit bitboycrypto.com
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deals all right guys bitcoin pumping why
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well it's a very very very simple reason
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why bitcoin is pumping
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today an sec filing from tesla and elon
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musk reveals
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they just bought 1.5 billion dollars
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in bitcoin that's bigger than the last
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great scale buy
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uh and here's here's what i want you
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guys to keep in mind about this okay
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keep in mind that it is a public
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publicly traded company tesla is so they
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have to they're forced to say how much
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they bought
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and make a little prediction about
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what's about to happen here soon okay
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but remember this spacex
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spacex elements other company
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does not have to file because they're
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not a publicly traded company
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so what that means is not only did they
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buy 1.5 billion
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worth of bitcoin from tesla how much
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does spacex own
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how much does elon musk own how much the
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holding companies he has owned
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it's really crazy when you start doing
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that math and thinking about how much
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they own
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bitcoin of course pumped all the way to
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like forty four thousand dollars i think
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when i woke up this morning and checked
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it
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uh slept in a little bit this morning
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after the super bowl uh getting ready
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with the fam to head back to the atl
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uh but it was such a nice surprise
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another thing i'm the most disappointed
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about
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i think i'm the most disappointed about
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in this is that i had closed along last
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night i really love having logs open
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while i sleep
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because man i would have made so much
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uh i dropped my bed account down to uh i
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think there was 1.67 bitcoin in there
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and i ended up i transferred out like a
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whole bunch
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uh like 15 bitties and then i flipped
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that
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up almost to two yesterday at the super
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bowl so pretty pretty fun times we'll
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see how high i can get that thing
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tomorrow we're gonna be starting our uh
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one thousand to ten thousand dollar
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challenge by the way
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i want you guys to be giving me some
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ideas of some coins you think i should
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be looking at for that portfolio
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uh but right now bitcoin is feeling
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pretty nice
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uh it it definitely everyone sees now
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bitcoins probably fifty thousand dollars
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by the end of the month
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and people are freaking out saying like
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oh well you know
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uh ethereum you know by valentine's day
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twenty five hundred dollars is not going
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to get there it's only a week away
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you don't know what's gonna happen i i'm
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still standing by that prediction i was
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standing by that prediction all the way
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until the day of
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and the thing about ethereum is is that
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when it pops it pops
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off hard it could go from 17 to 2500 in
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two or three days and a lot of people
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are thinking that's gonna happen
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now what happened yesterday with
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ethereum we talked about last night from
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my super bowl video
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was that obviously people were selling
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out of the fear of what was going to
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happen today
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with the ethereum futures contracts by
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cme
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guys they're just not that big of a deal
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compared to the
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other you know institutional investing
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channels that we have right now
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uh you know and when it when it comes to
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what these you know hedge funds are
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thinking when they're getting these
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futures contracts is
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let's say that they've invested now
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number one
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what this means is is they're hedging
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their bets remember this that's what a
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hedge fund is right
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they're hedging their bets against loss
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by ethereum nobody thinks ethereum's
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going down anytime soon
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with bitcoin they knew it was the top of
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the market and so
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they were hedging those bets they were
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they were betting on ethereum
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futures the ethereum future price to
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drop
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or excuse me they were betting on the
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bitcoin
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future to drop the price of the bitcoin
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in the future
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it sounds so weird to say it the price
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of bitcoin in the future was going to
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drop they knew we were at the top of the
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market
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so they were hedging that to the
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downside and then when the market
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started to tumble
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i mean did it play a role in it yeah
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obviously it played a role in it because
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it was like the day of the top of the
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market was the day they launched
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but was it the driving force no it was
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kind of a manifestation of people
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wanting to hedge against the top of a
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market
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all these things that you've been
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looking at where you've been seeing
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market cycles and you've been seeing
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uh you know the psychology of a market
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chart and that cheat sheet and things
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like that
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these people have known this forever
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this might be new information to you but
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they have known this for a long time
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which is why they knew to hedge at the
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top of the market right now nobody
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thinks ethereum's at the top
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now once it's 3000 could it play a role
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maybe possibly
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okay i don't think it's going to
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ethereum is nowhere at the top
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and so there's not a lot of reason for
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them to hedge
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low numbers on the downside and these
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are paper bitcoin
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the only people that are hedging this
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think about this guys
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the only people that are going to be
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hedging these huge contracts or ethereum
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are people that already own ethereum
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that that's what you do you own ethereum
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and then you hedge it
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in case the price drops you don't lose
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money and you know that's basically kind
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of
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that's a short summary of how those work
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and for me i think that yesterday was
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strictly fear and panic selling over
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what could happen today
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but what we're seeing now is it don't
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look like that's going to happen
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what a day for this elon musk news to
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come out what a day
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because this is basically uh going to
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hedge
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a potential ethereum drop i believe and
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that's where we're seeing it back over
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1700 but you know as far as dogecoin
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goes i know a lot of people are
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interested in dogecoin and people on
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tick tock and kill me because i say it's
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you know it's not
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i mean you guys watch the channel know
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what dogecoin is it's a fun coin
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you know dogecoin is for fun
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bitcoin is for business bitcoin is for
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investment dogecoin is fun but
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it is not ever going to be what bitcoin
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is uh there's just no way that it's
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going to be that
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elon musk is making little tweets about
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dogecoin
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meanwhile he's buying 1.5 billion
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dollars worth
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of bitcoin so something for you guys to
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think about in terms of dogecoin
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which is let's have fun with it while we
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can have fun with it i hope for all your
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sakes it goes to the
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i hope it goes to a dollar i promise you
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i hope it goes to a dollar uh we've got
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small holdings in dogecoin
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uh compared to other things uh but i
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hope it goes up for your sake if you own
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dogecoin i mean what a cool
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story that you've got a guy you out
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there the richest guy in the world
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talking about your coin it's making it
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move so much i'm so happy for a lot of
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you guys that are making money with that
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but i'll say what i always tell you make
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sure to lock in profits and you're
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definitely gonna be better off in the
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long run doing what elon
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did and moving that money over to
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something more secure
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like bitcoin something that has a more
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guaranteed future
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if you will so those are my thoughts on
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the market this morning heading back the
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atl we'll be back live streaming
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tomorrow
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killing me not to be live streaming
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right now but you know what
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i got the bit squad and i got the fam
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got to spend some time with the fam
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got to be a good family family guy god
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don't make don't make a meme out of that
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family guy
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uh but anyways guys definitely enjoy the
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time down here the super bowl look
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forward to being with you guys tomorrow
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that's all i got drop some comments down
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below be blessed
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big boy out
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