Lunch Money #244: Paul Tudor Jones, Jay Clayton, Sacramento Kings, Sotheby’s, NFT vows, & #ASKLM

what's up guys bang bang it is lunch money time while wall street is trying to get rich the rest of us just trying to get our lunch money right that's right i'm here with clint evita louisville marinova p-i-m-p and she got her shirt on theprofile.com go check it out but don't forget that block five is now the sponsor lunch money read the profile.com guys i don't even know the website no problem blockfi is the sponsor of lunch money that means you can earn up to eight point six percent ep wide an interest bearing account or you can go and you can sign up for the bitcoin rewards credit card it's a normal credit card that is going to pay you bitcoin back rather than cash back that's right can't not complain about that go to blockfy.com pomp blockby.com pomp what's up okay guys sorry that we haven't been here for the last two days it's been two days a lot friday and monday we didn't film we didn't do friday one day i was sick yesterday i don't know what happened it's okay this year it was my fault we're here now okay bang bang we're here so when paul tutor jones bet one to two percent of his assets on bitcoin it was unclear where the billionaire had bought his crypto or how but in the year since his firm the 44.5 billion dollar tudor investment corporation has indeed established rams for direct crypto ownership it secured custodial ties with institutional powerhouses coinbase and backed you're gonna have to get exposure and if you're gonna have to get exposure and you're a big firm then you're gonna have to do something uh with these companies and so coinbase uh block fi backed nydig lmax digital just go down the line over and over and over again there's all these companies that are finding out uh what does the institutional world need and they're building solutions for it so it's pretty cool that the public disclosures uh is what allows us to figure that out but uh let's go public disclosures okay uh jay clayton the former chief of securities and exchange commission said bitcoin was not considered to be a security of the agency but this does not mean it should not be regulated he said where digital assets land at the end of the day will be driven in part by regulation both domestic and international and i expect that regulation will come in this area both directly and indirectly what is he saying you have to remember that uh the assets themselves can't be regulated so the dollar is not regulated bitcoin is not regulated gold is not regulated the institutions that participate with these assets or support these assets so that is what gets regulated what are you gonna do to the dollar are you gonna go arrest a physical dollar are you gonna arrest a digital bitcoin or a wrestling a borrower of gold no what you do is the institutions that support it but here is what everyone forgets about this conversation is that the bitcoin and crypto world is more heavily regulated than any other industry in finance or vertical and finance what i mean by that is one if you're in the state of new york you have to get a special license to operate so on top of all the other financial licenses and approvals that you have to get for just being in finance you also have to get a crypto license so that is more regulation rather than less regulation than the traditional financial companies the second thing is that bitcoin as a currency is taxed every time you use it if i go use a dollar at the grocery store i don't have to pay tax when i spend the dollar but if i spend bitcoin i actually have to pay a tax again bitcoin the asset is more regulated it's more taxed than these other currencies and so this idea for some reason that bitcoin is unregulated uh or the institutions uh using bitcoin and supporting bitcoin are unregulated it's just all talk that's not true and actually the counterfactual ends up being where people need to focus and so jay clayton did a great job of stamping down on all the nonsense around icos and and kind of all the bad acting that went there so he should get kudos for that but when it comes to bitcoin we also have to have serious conversation about it already is regulated it's over regulated in many cases and we probably should be looking at creating an even playing field between the traditional financial system and the new digital financial system you're so smart i don't know about that just okay the sacramento kings are set to become the first major sports franchise to offer a bitcoin payment option to all players and staff team owner vivec rana devay sat on clubhouse on monday coined us confirmed with fellow speakers on clubhouse that uh vivec had preview previewed his announcement schedule for later this week wow would they get anything else up in here keep going what you mean damn they just ain't going all right here's the true story do we get an exclusive i think i think vivec will uh will enjoy me telling this so i met vivec we two or three years ago uh there's a person that works with a vec named ian wheat ian was i think the director of innovation uh and then ryan montagna was the uh cto i think of the uh sacramento key money exclusive right here and i've known these guys for a while they're very very forward-thinking the sacramento kings have an amazing stadium uh everything from uh led lights to a retractable roof solar panels they've got a state-of-the-art data center within the sacramento king stadium all this stuff so i went out there planet came with me uh we spent a bunch of time talking to uh vivec to ryan to ian to uh the president of the team and we basically just went through that what are all the different things that they could do everything from tokenizing ownership of the team to uh bitcoin to mining etc many people don't remember that the sacramento kings actually set up a mining facility bitcoin mining facility uh inside of their data center and they donated the proceeds so they've been ahead of the curve for a while about a week ago i had a phone call with ian and vivec and they were talking about hey what are the things that we should be thinking about and i gave them a whole bunch of different ideas uh and one of them is listen every single team is eventually going to pay the players in dollars and in bitcoin they're gonna let the players choose so why not be the first now here's where the story gets interesting it's simple to give somebody an idea but what ends up happening and ian's been a big part of this but vivec is ultimately kind of the driver as the owner of the organization is vivec immediately took action and so that propensity for action is exactly why he is a great entrepreneur and he said let's do it let's go figure out how to go do that and so they start to put the wheels in motion to actually execute on this but what ends up occurring is that when one nba owner does it another is going to do it another and eventually the lee's going to do it and then all these other leagues are going to do all these other teams are going to do it and so what ends up happening is similar to michael saylor being the first public company ceo to go ahead and say i'm going to take majority of my balance sheet i'm going to put it in bitcoin then open the floodgates and all these other people started to do it people started to talk about it vivec is going to end up being the forward-thinking innovative leader when it comes to paying players in bitcoin he's gonna be the first one to get it done i think and when he gets it done i don't know how many players are gonna take some bitcoin maybe some of them take one percent or five percent maybe somebody says hey pay me all of my salary bitcoin i'm not sure but we've seen russell kong do this in the nfl i think we're going to see this happen now in the nba i know there's a number of people who i don't know if they want to be uh told or not but he's tweeting it so i'm going to say his name matthew dellavedova i've had him on the podcast i've become uh friendly with him and he he now is tweeting out things like pay me in bitcoin and so you can see the players starting to uh really really push into this world understand it they understand their their careers don't last forever and they want to understand uh investing alternative assets bitcoin crypto etc and so i think this is a really really cool thing people are going to laugh at it people are going to uh kind of mock the fact that an mba owner is doing this but i think that vex is going to be on the right side of history here and so it's awesome to see them doing this if you work for the profile i can pay you in bitcoin i ain't got paid a bitcoin you don't work for the profile okay uh must be an unpaid internet okay top auction house sotheby's uh has announced its first auction with nft based digital artworks created by anonymous artist pack uh that scrutinizes our understanding of value so the visa launched on monday the fungible collection by pac will be taking place april 12th through the 14th on nifty gateway which is the marketplace marketplace owned by gemini which is owned by um um the winklevi twins which there is a great profile and forbes on them right now uh yeah that's it this is going to be really really cool he's already did the 69 christie oh that was christy christie's did it now southerly southern is a very old uh auction house i think it was 19 or 17 44. you think you saw it right here established in 1744 in london i tried to test her knowledge got her uh but i think when you watch this play out what you're starting to see is there's a blending is value in the art or is value in the format uh and what i think we're starting to understand is maybe it's actually more in the art and the story than it is in the format what's the difference between painting a mural or simply having it digital well the value is derived by the audience and so some people are going to say i want the painting and the digital thing is worthless other people are going to say i want the digital version and the painting is worthless so what you're starting to see is you're seeing a transition in the audience and the demand side of the equation and so now there are auction houses they're saying wait a second maybe we should get in the game and serve the people who want the digital piece not just the physical piece and so i think that you're going to continue to see this happen more and more do you think it was a big deal when like wine started being auctioned off for insane prices no why because that's how auctions work because people show up and the market decides should i should should i create an auction house for what i might create an auction house that's what i should do that'd be fun huh what can i auction i'ma auction you off anthony i don't have energy or time for this today okay this is fun okay speaking of nfts two coinbase employees have managed to find a heartwarming use of for nfts by incorporating them into their wedding exchanging the digital tokens as part of the ceremony rebecca rose and peter kotcherzynski uh say that alongside their traditional jewish ceremony the couple will also send each other digital tokens as virtual rings to each other wow that's so funny i love this so their virtual rings now exist on the blockchain for all to see is proof of our commitment to each other i love this this is amazing i think we got married on the blockchain however we not we exchanged real rings except his is like 17 on amazon he didn't want a real one he didn't want a real he wanted a pla like show them how it stretches yeah it stretches 17 on amazon but a lifetime of memories it wasn't it was it was something else i can't remember all right next it was seventeen dollars though uh next is ask lunch money time hashtag ask ellen below we aka you still have not messaged moist moisten is coming i am sorry but alexandria had a great question she says what does paulina skincare um okay well so i don't really wear makeup but i do have in terms of skincare i have this face wash god what is it called it's the one with like the the bacteria that like oh i'll i'll drop it in the comments but basically it's this is not a beauty influencer moisturizer and i really really like the mario badescu is that how you say it uh products they're cheap and they're super effective and high quality do you want to tell people what you got me to do finally he uses moisturizer now aveeno my my entire life for for all you men out there you know real men i was 27 years old when i met my beautiful wife right here and she asked me once how do you wash your face what do you use and i had to think for a second and then i said to her one of the most scary things that she's ever heard well which was i don't think i've ever washed my face other than in the shower with the bar of soap going like this that's what scared me because he washes his body and then his face no face then body it's soap it's clean okay but the the thing for men it's a little different because you don't wear makeup you don't have like for yourself whatever like you can just like wash your face it's not as bad but no i never like i i don't think i ever even knew that there was special soap for your face that's okay but see now i upgraded your life and now every morning i wake up and i put this stuff and i go like this and i try not to get it in my eyes he puts it like uh like i do i mean i'm going to go to battle today so i might as well put on the war painting like what's right face cream and then i feel like yeah i'm ready to take on the day ain't nobody gonna mess with me today i'm going to battle i got my face paint war paint on let's go and then i like do it so it doesn't look weird for the rest of the day well there you go guys now you know see ya bang bang hope you guys enjoyed this episode of lunch money as much as we did and don't forget lunch money is now sponsored by block five so go check them out there's a link in the description that you can click on i'm an investor a user and a huge fan what you're a bigger fan of block five than you are of me block five is my second favorite thing in the world behind polina they've got three products they can give you a us dollar loan you can earn up to eight point six percent interest on an interest bearing account or you can buy and sell cryptocurrencies on their crypto exchange i personally use the interest bearing account there's not very many places where you'll find up to eight point six percent interest on a deposit in an interest bearing account go do your own research there's risk associated but eight point six percent is pretty compelling so click on the link in the description say thanks to the folks at blockfly subscribe to our channel like the video annoy pulling in the comments and we'll see you guys tomorrow and be kind to your friends

Channel: Anthony Pompliano

Views: 9,885

Keywords: bitcoin, btc, podcast, pomp, anthony pompliano, crypto, cryptocurrency, blockchain, finance, investing, fintech, tech, technology, investing news, financial news, btc price, bitcoin price, markets, bitcoin news, media, pomp podcast, NFTs, Crypto, Stocks, Stock Market, FED, Federal Reserve, Personal Finance, Financial Education, Tesla, Joe Rogan, Dollar, USA, Saving, Money, Education

Id: emaumLd0kWM

Length: 14min 33sec (873 seconds)

Published: Tue Apr 06 2021