Time for the futures outlook Bitcoin slightly higher today after its record rally the crypto up 27, just since Monday, its best week since mid-2019.
So we asked Scott nations now of nations indexes jeff Kilberg of KKM financial, how to trade it.
Let’S see any meanie mining mode. Jeff Kilburn, you go first all right. Let’S do this go Irish, first and foremost, but interesting to see the Bitcoin surge.
I remain constructive and optimistic on Bitcoin and what was the game? Changer judge. We talked about a while ago here on the halftime report.
We talked about PayPal, really adopting its 350 million users allowing to use not only Bitcoin but other cryptocurrencies as a fiat currency inside of PayPal.
Well, there was just a survey that came out 20 of those 350 million users I’ll do the math for Stephen white, 70 million PayPal users are now using bitcoin.
So that’s a big deal and you’re. Seeing this broader adoption, we work with a lot of family offices. They are broadening their exposure going into 2021 for cryptocurrencies, specifically Bitcoin futures, but Bitcoin futures really provide a great opportunity for exposure and also how to mitigate risks.
I know brian Armstrong, coin base CEO talked a lot about the risk asset that Bitcoin inherently, is. You know Trevor’s playing this weekend right who Trevor? Who you know, who it’s give me a heck of a game.
Buddy yeah, we’ll see what happens: Scott nation’s Bitcoin where’s. It going uh well, I understand why it’s higher, I mean if you look at the dollar index actually closed below 90 yesterday and with concerns about real rates, inflation being higher. You know we got some surprisingly high inflation data uh recently and people are looking for a dollar hedge.
I get that. I understand that uh and if you’re over 50 you’re, probably thinking about gold, but there’s so much friction when it comes to actually trading physical gold.
That everybody else in the world is thinking about bitcoin, so I understand that has Bitcoin has Bitcoin come too far too fast. Well, the dollar index is down just over two percent, since the first of the month and Bitcoin is through the roof.
So I understand the use case, and this is the use case that makes sense to me um, but boy are we at lofty levels yeah all right, guys, good stuff? Thank you.
We’Ll talk to you again soon.