Bitcoin-related stocks are surging: The momentum is 'incredible'

00:00 Speaker A

We've seen a lot of the Bitcoin related stocks, you know, and I'll start with Coinbase. Lots of call buying in there as we head through the week. Obviously there was the uh, you know, innovation exemption that was granted last week. as you mentioned at the top of the uh segment, we saw Bitcoin rally significantly. We're seeing some of the Bitcoin ETFs. I look at IBIT up about six and a half percent today. So the momentum that is happening around bit around Bitcoin and around more generally crypto has really been incredible. I use Bitcoin for crypto so often and the reason is not because there's not a difference between them, but when it comes to truly playing crypto, the average retail investor is using more Bitcoin than some of the other coins that may be involved.

01:05 Speaker B

Right. And are investors protected on the downside in case because look, I mean, you've seen this move in Bitcoin up 5% today. On Friday you saw Bitcoin going up 5%. So at some point you would be expecting some kind of pullback.

01:21 Speaker A

Well, you I I would absolutely be a little bit careful of that. No question about it. But I think there are many who are saying, okay, with this innovation exemption, etc, do they get a chance to go and challenge 100 again? I think you're bringing up the the proper point right now. You have to be a little bit careful. Yes, this has been amazing, amazing momentum, but that tends not to continue.