What to expect from bitcoin, ARKK as the crypto asset crosses above $80K

00:00 Speaker A

And Jared Fogo, I know you're watching Bitcoin as well. What do you see there?

00:03 Jared Fogo

Yeah, so first, I was looking at the month-to-day winners in my ETF basket here. GBTC, that is my proxy for Bitcoin. That's up almost uh 24%. Ark Innovation Fund is up 20%. And I was thinking back to uh 2021, early then. Remember uh early in the pandemic trade when we had both of those surging and they both peaked in about January or February of that year. I'm going to come back to that. But first, I want to show you, this is a Bitcoin versus Ark Innovation Fund this month. In the month of August, both of them are up about 20% or more. And you can see they both got liftoff on the same day. That was the debasement trade. That was when Treasury said, okay, we're going to buy more of the long end of the curve. And so that was the catalyst right there. And then I went back in history and I searched for all the months where we had both of those, uh both the Ark Innovation and Bitcoin up 20% or more. And then I looked a month out, three months out, six months out, 12 months out. And you can see the returns are pretty big here for 12 months out in Bitcoin, average gain was 137%. For Ark it was 25%. For Bitcoin, it was four of four hits. So there this is not a big sample size. Only four times before has this happened. And then the Ark Innovation Fund is only two for two. Um although they were not part of the equation coming in, I looked at the Nasdaq and S&P, both of those up more than 20% a year later. So really interesting to look at that. I'm writing up the details for my chart of the day Friday morning, and you can check it out on yahoofinance.com.

01:23 Speaker A

All right, thank you, Jared, appreciate it.