Today micro strategy co-founder Michael Sailor tells CNBC he thinks Bitcoin Could hit $13 million by 2045 Bernstein Predicts the cryptocurrency could hit New highs of up to $90,000 if Donald Trump is reelected in November and the Co-founder of digital lending platform Le in discusses crypto regulatory Advancements around the world and what We can expect for the rest of the Year welcome to cnbc's crypto world I'm Jordan Smith crypto prices in the green To kick off the week as of new Eastern Bitcoin climbed more than 3% to $55,000 Ether Rose 2% to nearly $2,300 and Salana inched Higher by more than 1% the Moves higher come after Bitcoin ether And crypto related stocks saw sharp Sell-offs last week over growing Concerns about the health of the US Economy coinbase has its worst week of The year last week and Bitcoin minor Marathon digital sank 20% as of midday Today Crypt Focus stocks are seeing a Rebound outperforming the S&P with Coinbase climbing nearly 4% and micro Strategy jumping nearly 8% marathon is Today's winner so far soaring more than 8 1.2% as of around noon and speaking of Micro strategy the company's executive Chairman Michael sailor joined squawkbox This morning where he noted that the Company's Bitcoin strategy has paid off Despite all the major price swings since
August uh 10th of 2020 micro strategy Has bought about 8.3 billion worth of Bitcoin and Um bitcoin's Up 4 44% a year on average Since then the S&P is up 12% and since We levered it we're up 8 25% the number one performing stock in The S&P is NVIDIA up 821 per as of Friday so we beat every single company In the S&P index using a Bitcoin Strategy sailor also provided his Long-term projection for Bitcoin this Morning where he forecasted that the Cryptocurrency will SAR to $13 million Over 21 years all right sticking with Bitcoin price predictions as we take a Look at our top stories according to a Report out today from Bernstein the Cryptocurrency could hit new highs if Donald Trump is elected president in November Bernstein predicts a trump win Could lead to bitcoin reaching a price Of between 80 and $90,000 by the end of The year surpassing the current high Above $73,000 reached back in March the Report forecasted that if vice president Kamla Harris wins the election Bitcoin Could fall to as low as $330,000 now Trump has taken on a pro crypto St in Recent months while Harris has yet to Publicly take a position on crypto Bernstein argues that the tone and Clarity between the two political sides On the topic of crypto has been very
Different noting that Trump has Personally been vocal about making the US the Bitcoin and crypto capital of the World and that he has mentioned crypto At every policy speech he's made the Report goes on to say that on the other Hand crypto has not found even one Mention in any of Harris's speeches and That there is no mention of crypto on The recently released policy statement On her website in contrast crypto policy Is clearly articul ated in the Trump Policy statement meantime The Wall Street Journal is reporting that Trump's Digital currency project called World Liberty Financial could create potential Conflicts for the Republican Presidential nominee if he's elected in November the article notes that details About the project are scant but that the Team behind the project said last week That it will focus on spreading US Dollar Peg stable coins around the world And ensuring the quote dominance of the US dollar the report warns that Trump And his children's potential involvement In a digital currency could create Conflicts of interest for the former President if he's reelected that Includes concerns over whether Trump Might be inclined to push Crypto-friendly regulations that benefit His own business we reached out to the Trump campaign for comment but didn't
Hear back right away next a federal Judge ruled that coinbase must face part Of a complaint filed by shareholders This comes in response to the company's Motion to dismiss the lawsuit in the Decision filed Thursday US District Judge Brian Martin nauy said the court Finds that the plaintiffs adequately Alleged that coinbase misleadingly Described a favorable picture of its Odds of facing SEC enforcement action by Emphasizing that the listed crypto Assets were not Securities the lawsuit Alleges that coinbase downplayed the Likelihood of SEC enforcement action Against the company and that it Knowingly concealed that it listed Tokens from 2019 through 2021 that it Knew were likely Securities the Regulator sued coinbase in June of 2023 Accusing it of operating as an Unregistered Securities Exchange at the Same time the judged his Miss claims Related to part of the bankruptcy as Well as proprietary trading where a firm Trades assets with its own money the Judge said the plaintiffs failed to Adequately alleged misrepresentations on Coinbase's part we reached out to Coinbase and a spokesperson said that The court agreed that a significant Portion of the plaintiff's claim should Be dismissed and that it's important to Note that the remaining pieces are
Allowed to move forward because of the Way this motion to dismiss works the Court draws inferences based on the Plaintiff's allegations rather than the Reality of what Happened all right for our main story Crypto world's Mackenzie sealo spoke With marod bartalo co-founder and chief Strategy officer of letin a crypto Platform that offers crypto loans and Savings accounts to investors they Discuss crypto lending and Regulatory Advancements in crypto around the world He also weighs in on the world digital Assets have been playing in the upcoming US presidential Election so your digital lending Platform recently secured the industry's First $50 million Bitcoin backed Syndicated loan we're also learning that Lein handed out more than $1 billion Dollar worth of loans in the first half Of this year what do these developments Signify I'm against great to see you and I think what this is really showing is That Bitcoin is here to stay and that Bitcoin lending and Bitcoin as a reserve Asset is effectively here um our loans L's primary businesses we lend dollars To people that don't want to sell their Bitcoin so that is where that facility That we just got from Signum plays in Because they are lending US dollars that We can then turn around and lend to our
Clients so more dollars for us to lend Means more capacity means better pricing Down the Run means this product becomes Even more compelling for clients and Then on the other side of the house that Rounds up the 1 billion figure that We've lent year to date is our Bitcoin Lending business has also exploded Thanks to the new ETFs coming into the Scene because now market makers and Authorized participants need to borrow Spot Bitcoin in order to make sure that The unit prices are always tracking spot And they need spot inventory to do this So they come to let it so much of the Business obviously has to do with the Markets the price of these top coins so Bitcoin kicked off the new month in the Red trading below that $60,000 threshold Well below the all-time high above $73,000 that it hit in March why do you Think this is and do you think that we Could surpass that March Peak by the end Of the year and if so what would it Take so to answer your F your second Question first I do think we can surpass That by the end of the year I think it Will take a few things but to to kind of Bring you back to the first point you Made which is Bitcoin starting off the Month off the highs I don't think this Is a Bitcoin specific issue I think if You look at the NASDAQ it's also Slightly off the highs if you look at
The S&P it's also slightly off the highs So I think this is sort of a natural Progression of Market Cycles I don't Think this this the fact that Bitcoin is Off the highs is specific to bitcoin or Says anything sort of you know read too Much into it outside of it's just part Of the natural cycle where there's a lot Of uncertainty around us politics and I Think you're seeing this reflected in The markets where they're just sort of Range bound until we probably get some More clarity post elections okay so you Think it's more about the elections Because I think that you know a lot of What what's Driven the price in the last Few years has also been pegged to what's Coming out of the FED of course there's A lot of conversations around whether or Not we'll finally see that First Rate Cut since 2020 uh in a couple weeks from Now and I and I really do feel like so Much of the price momentum that we saw In 2021 had to do uh with decisions Coming from uh fed share Powell what are Your thoughts on on that as as a price Driver versus as you said the elections And what might come out of uh November I think it's both I think it's Bitcoin as any other financial asset Moves to the rhythm of the FED right Like uh so does the S&P and so does Everything else so it'll be very Difficult uh all things uh uh being
Equal that under restrictive monetary Policy you're seeing financial asset Prices sort of run up and to the right As they do when when monetary policy is Is looser so I think it it's it's both It's a liquidity driven issue but it's Also a politics issue because if you Look at um the difference between the Two platforms coming up at up coming up On the elections you you have on one end A platform that wants to build the Future of crypto in America on the other Side you have another group that's been Touting an anti- crypto Army for years So so much of what you can build in us Is going to come down to the stance that Us Regulators take look for instance how Long it took to get the ETFs approved Visa other countries right if this had Moved faster we would probably be Trading at different prices and there Would probably be a different type of Atmosphere around entrepreneurship and Bitcoin and crypto in the United States Today but given where politics has Shaken out we've seen that that has sort Of had an impact on how much investment Can happen in the US or wants to be in The US frankly now let's talk regulation Uh you've got probably one of the most Promising Congressional sessions this Year Chuck Schumer just a few weeks ago The Senate Majority Leader also a Democrat uh saying that he believed that
One of these bills could be passed into Law this this year certainly a lot of Cooperation from both sides of the aisle How are you feeling about it how are you Feeling about politics Capitol Hill Finally getting some hard and fast rules From Congress I think that Bitcoin can no Longer be ignored by either party and I Think that's what you're seeing now with Sort of a a a change in in demeanor or a Change in posture from the Democrats uh Who are now seemingly more willing to Play ball with the industry and to put In the right regulations so that they Can flourish because they've seen how Much donations and how successful the Red Camp has been by basically catering To this industry so they're recognizing That a your voting base wants it and B It can be a great source of uh you know Funds for you to continue pushing your Platform and your campaign so I'm Optimistic that both groups are seeing Bitcoin for what it is a part of the Financial ecosystem that can no longer Be ignored and that's largely thanks to The efforts of bitcoiners and crypto Members of the crypto space that have Been consistently lobbying Washington or The hill in order to get some of this Sensible regulation to bring this Development into the US where many People think it belongs last question
For you obviously crypto the industry RIT large has made itself impossible to Ignore this election cycle and large Part because of the hundreds of millions Of dollars that is being spent uh on Primary elections uh going into the General election in November but what's Interesting to me is that a lot of the Ad spend money where where that crypto Super pack cashes involved is going into Very traditional ad campaigns that don't Mention crypto now the the kinds of Candidates who are winning are are those Who are favorable to the industry so but My question to you is is it that voters Care about crypto or is it that the Power of the purse is making this Industry impossible to ignore this time Around I think again I think it's both I Think you're you're having the the the Bitcoin Lobby or sorry the Bitcoin Cohort or the crypto cohort is funding These parties It's four companies I I think of fair Shake for example more than 94% of their Cash is coming from four companies none Of the ad campaigns so 36 out of 42 uh Primary elections were won where crypto Super PAC money was involved but those Ads weren't mentioning crypto and so What I'm just trying to understand is Whether there's actually a very strong Crypto voting block or if it's just that A handful of companies are willing to
Give a lot of money this year again I Think it's both I think you're seeing The Bitcoin or the C crypto companies That are now publicly traded like the Miners like the coin bases of the world That have really big Pockets they're Stepping up and saying if we don't get Sensible regulation our future can be at Stake or we might have to go find a new Home so they have a big incentive to Make sure that whatever law gets passed It's the law that allows them to Flourish so on the one end you have them Trying to protect their future and Trying to basically you know bankroll The legislation that they want to see uh On one side and then on the other side If you look at the polls or if you look At the the data from surveys and such You have you have millions of Americans That hold crypto and Bitcoin and to many Of them this election is a single issue It's a single issue vote and so it's It's both it's there's enough of a purse That's coming in from these companies That helps you push your campaign your Platform at large Beyond crypto but There's also that Allure of getting that Crypto voting base so I think it's a Combination all right that's all for Crypto world today we'll be back again Tomorrow and we'll see you then
