Okay folks, so honestly, we've got a lot to talk about. While the overall market was fairly flat today, Bitcoin has just been going parabolic up over 17 midday when I shot this video. all on a new hype. Catalyst And of course, Maura Lovely and Riot Riot Riot saw some Love today as well.

Finally, best attempts at a bounce back yet. But Bitcoin's run over the last week has been nothing short of intense up over 30 percent. And for many of us, let's be real. It's hard to grasp just how much that is, But just to put it in perspective, from last Monday, Bitcoin has gone from a market cap at about 559 billion to 758 billion.

Today that is nearly a 200 billion dollar increase for relevance, The entire market cap of Mcdonald's is 182 billion, The entire market cap of Starbucks is 148 billion. So in exactly one week, Bitcoin has grown the financial equivalent of growing Starbucks or Mcdonald's from scratch and then having a little left over. But anyways, folks, I want to talk about what the heck is going on with the cryptocurrency market, where it's headed, and what you need to know about this latest catalyst. Of course, we're also going to be giving an update on major plays as well as of course, Ooga booga and the only thing that I ask in return is that you hit that ravishing like button And also don't forget to subscribe either.

Okay, let's go ahead and get started with an update on plays: Lucid Lcid After more than seven months of covering the Lucid merger with Cciv, it's finally here in the flesh. It had a nice pop-up introduction, but regardless of what happens, the real kicker is to see how it performs as vehicles start leaving the factories and getting into the hands of consumers. Remember, their first model has 11 000 reservations miles of travel per charge. It reaches the first 200 of those miles within 20 minutes of charging, and it can go zero to 60 in about 2.5 seconds.

It's certainly going to be one of the most competitive Ev sedans in this market, And while this introduction hype can be fun, the truth is that this is really a long-term play. Okay Tesla. So Tesla reported earnings today. They beat large on earnings per share 145 versus 98 cents Expected They beat slightly on revenue 11.97 billion versus 11.30 billion expected.

They've grown total revenue 98 year-over-year That's almost doubling. Net income has skyrocketed to over a billion For the first time. They dramatically increased their solar and energy storage business. A lot of people said that, hey, you know Tesla shouldn't have made this acquisition because it's not in the best shareholders interest.

Elon Musk is trying to scare me by making you too much money, but this is increasingly driving growth for the Tesla brand. Tesla's not just a car company. I understand people like that's a lot of valuation there. For an electric vehicle company, we don't even know if electric vehicles are going to do that Well, It could be a fact Tesla has and is going to revolutionize a lot more than the electric vehicle.

And the fact of the matter is that this quarter report shows that by all means this was a stellar quarterly report. Keep in mind, hey, Tesla has been dealing with industry-wide shortages. it's been dealing with China fud and recalls, been dealing with overall increasing competition. People said a couple years ago, hey, all these new companies are coming onto the market.

Tesla can't survive. There's all these companies that have a hundred years of experience in the car market. While Tesla continues to surmount all of the flood, and we're seeing really, really good numbers, we are seeing a little bit of delays in terms of certain segments, but hey, it is Tesla. I find it so interesting though, you'll see a lot of analysts bash Tesla and then they'll go and recommend a company that has a much much much slower growth rate and they'll say, oh, that's a safe play And then you look at Tesla, it's like hey, wait a second.

almost a doubling of sales and you're just going to ignore that. There's nothing safe about lackluster revenue growth. I'm sorry thinking it's safe because the company's not doing anything is a huge mistake. That's called the value Trap.

Okay, next Amc. What is new with the ooga-booga Well honestly I hate to break it to you and I know a lot of you are going to be shocked at this. but Motley Fool is saying that Amc Entertainment is likely to let investors down. This, to me quite frankly, is totally out of left field and I am very shocked to see this.

Never would I ever, ever have expected them to say something bad about Amc. I bet you that none of us knew that movie theater struggled during the pandemic. So thank you Mr. Fool for telling us.

But fatty daddies aside, Amc had a nice day today, up more than nine percent at highs retail, winning the battle and retaking into the 40s. Now there's this popular theory on Reddit about why we're going to have the massive squeeze in August. and it has to do with the fact that August is the eighth month in the year, and eighth sounds like Eight Eight. as in, I ate too much.

I can't fit my shorts anymore. What happens if you ate too much and your shorts don't fit well, They rip if they rip. That's pretty damn embarrassing to be in public with ripped shorts. so you have to cover.

If you have to cover, What happens, well, you get the squeeze. So that is why we have this very intellectual and sophisticated theory going around saying that, hey, well, August could very, very well statistically be the month where that molasses comes. The mother of all short squeezes. That was, of course, a terribly bad joke.

But in all seriousness, I do want to talk about this concept of a controlled squeeze. Rumors have been spreading around about different proposals, and the regulations have some interesting wording and a lot of people are speculating that, hey, this means that the regulations are going to try to make it so that Amc can't squeeze very far. There's actually controls in place to say like, okay, well, if it hits 80, we're gonna have a controlled squeeze to control the damage so that hedge funds don't take on massive losses in a situation where this does actually squeeze Mcsqueeze. And overall, there's a lot of fun in terms of ideas that regulators are proposing different ways to figure out how to stop the squeeze from happening.

The regulation proposals that I've personally seen don't suggest that, but rather suggest how regulations can protect the rest of the market. Should there be a mother of all squeezes? How do you fix some of the collateral damage in other asset classes? If hedge funds have put themselves in a really, really bad situation that endangers the rest of the market now, you could take that as you. Well, you could say okay, well, they're acknowledging that there's a huge threat of a short squeeze. or you could say this is just general gatekeeping.

But as I promised a couple weeks ago, I want to make sure that I'm only talking about the big details in terms of Amc, because honestly, at the end of the day, the main situation is hey, there's a lot of shorts out there and they have to cover. Eventually we can talk all day about the different figurations of dark pull transactions and how public share price probably can't be trusted too much. We could talk about naked short selling, we could talk about the different derivatives, and honestly, if you comment, asking me to talk more about Amc, I'll talk more about Amc, but I try to focus on the main details in the ancient books of text. They said exactly that there be a day where the funds of hedge met at the markets of stock and a squeeze would occur.

If you do believe legends and you see the math in a pretty interesting situation. okay, Bitcoin. So ever since last week's Bitcoin B conference with Kathy Wood, Elon Musk, and the hippie Ceo of Square and Paypal, Bitcoin has been on the right pathway. At that conference, Musk stressed that Tesla will likely start accepting Bitcoin again.

Jack Dorsey stressed the ability of Bitcoin to empower citizens of poorer countries, and Kathy Wood did what Kathy Wood always does: Projects rapid innovation, groundbreaking innovation, and all that certainly set Bitcoin off on a good train track. But this week, the new story is Amazon hiring a digital currency and blockchain expert to its payment team, seeking an experienced product leader to develop Amazon's digital currency and blockchain strategy and production roadmap. which leads many to the speculation that hey, Amazon is either working on their own currencies, working on accepting cryptocurrency transactions for their massive, massive, and leading e-commerce network. At the very least, Amazon is considering using cryptocurrencies for their platform and their millions and millions and millions and billions and billions of dollars in sales.

And the minute they do the whole argument for cryptocurrency as an actual currency instead of just a store for value, I actually like it as a store of value. but the whole idea of cryptocurrency as an actual currency is going to become a lot more vivid. You look at Amazon's 2020 386 billion in sales, bitcoin, or even smaller cryptocurrencies. Grabbing a chunk of those sales would be insane.

And overall, this is accelerating the trend of positive catalysts for Bitcoin. During the Bitcoin sell-off we saw that Elon Musk fought in terms of the sustainability of bitcoin mining, and how we said Tesla's not going to be accepting bitcoin for transactions until it becomes sustainable. We had Chinese regulatory crackdowns, we had massive deleveraging from the funds of hedge trying to pull back a ton of money from the market. Of course, a lot of research indicates that there's a massive amount of leverage in the crypto market to the extent of maybe one to a hundred, if not more, but we saw that massive cascade of negative catalysts come out earlier this year, but now we're starting to see an increasing cascade in the other direction.

Now You have Amazon dropping some hits in terms of their exposure and their thought process on cryptocurrencies certainly starting to suggest that we may be in the beginning stages of a comeback. And you look at some of the stocks that have massive upside. If Bitcoin does indeed to come back, which in my opinion, it's almost inevitable that it will at some point. You know, many of these stocks, like Moral Lovely Mara and Riot Riot D Riot both have massive upside.

To get back to Huzz, you have micro strategy with a lot of upside. And amidst the bitcoin inflows today, Bt Bt went really crazy up over 100 at highest. This was on a new agreement to expand their hash rate and production capacity. When do cryptocurrency and crypto mining agreements start coming out, they come out when those crypto assets are going up.

Why? Because that way the public company can capitalize off the hype. I'm not saying that Btbt specifically did this, but if you look in general when you actually announce something big in terms of the crypto space, if it's on a day or a week or a month where crypto is in euphoric mode, then you're gonna be much, much more likely to get these 100 plus rallies in a day. And in those cases, they can be very, very well worth it because you can go and do a share offering a couple days later and seize on that price. And so, if it's possible, if you are a crypto miner and you're looking to expand your exposure to Bitcoin, you're trying to expand your exposure to a certain crypto asset or a certain mining facility or whatever.

You're going to announce that when you have euphoria in the market, that way you can capitalize on it very very quickly. and you also get the acquisition. So strategically, if you're a publicly traded Bitcoin miner, you're going to announce it during time periods where Bitcoin's going up. Now again, I'm not saying that Btbt specifically did this, but you're going to see and mark my words, If Bitcoin continues to go up over the next couple of weeks, you're going to see a lot more of these agreements come out with a lot of other cryptocurrency mining stocks.

They're going to have a lot of these similar trading patterns where it goes up 50 to 100 in a day. So anyways, be prepared. Very, very excited. After today, we're gonna have a lot of opportunities out there and we'll keep you posted anyways.

folks that caps off today. If you have any questions, feel free to reach out to us below or join us on the lovely Ziptrader Circle Facebook group if you'd like to learn how to trade. With our step-by-step lessons, our private chat, and of course our daily morning briefings where we brief on all of our favorite catalysts each and every single market open morning? Well, we'll go ahead and put a link to Zip Trader you below. Fudstopper50 will get you 50 off before checkout.

And if you're wondering what brokers to trade these stocks on, well we like to send new traders over to Weeble. They have a great free stock promotion, they have a great platform and you can get all of that just by clicking the link below. Anyways, that caps off the video and I'll see you in the next one.