Bitcoin (BTC)

• Bitcoin hit a new all-time high, touching $118,900 and trading around $117,700 at the time of the podcast. The host noted the past 24 hours have been "pretty crazy."
• The host mentioned that a technical analyst on the channel, Jason, had previously set a price target of $120,000 after Bitcoin broke $80,000.
• Catalysts for the price surge:
  • Anticipation of "Crypto Week": Rumors of upcoming crypto legislation and conferences.
  • Short Squeeze: $415 million worth of short positions were liquidated, forcing short-sellers to buy back, which accelerated the price increase.
  • ETF Inflows: A massive $1.17 billion flowed into Bitcoin ETFs in a single day, the first billion-dollar day in nearly two months. BlackRock's IBIT saw $448 million in inflows.
  • Macroeconomics: The rising US national debt is seen as a long-term philosophical catalyst for non-inflatable assets like Bitcoin.
• A long-time friend of the show, Carlos, is mentioned as a long-term holder with an average cost of around $8,000, highlighting the rewards of conviction.

Takeaways

• The sentiment around Bitcoin is extremely bullish, driven by strong institutional and retail inflows, a significant short squeeze, and positive macro tailwinds.
• The $120,000 level is being watched as the next major psychological target.
• The massive single-day ETF inflow suggests that institutional demand remains very strong and can be a primary driver of price action.
• Investors looking for exposure can consider direct ownership of Bitcoin or through related ETFs like IBIT (BlackRock) or FBTC (Fidelity).

NVIDIA (NVDA)

• NVIDIA's market cap briefly closed above $4 trillion for the first time.
• The stock showed significant strength, hitting new all-time highs during the podcast at $165, $166, and then $167.
• Bullish Catalysts:
  • AI Dominance: The host emphasizes that "everything goes back to NVIDIA when it comes to AI" and that it's at the center of the greatest technology S-curve.
  • Institutional Buying: The host believes the recent price action is driven by fund managers, hedge funds, and retail investors who missed the earlier rally "piling in."
  • CEO Meeting: CEO Jensen Huang met with President Trump, presumably to discuss easing export controls to China, which could unlock significant revenue.
• An anecdote was shared about a long-term investor who holds 91,000 shares with an average cost of $2, having identified its AI potential back in 2016.

Takeaways

• The sentiment is overwhelmingly bullish. NVIDIA is viewed as a "blue chip" AI play that continues to attract significant capital even at a $4 trillion valuation.
• The stock is demonstrating powerful momentum, breaking through multiple resistance levels.
• Any positive news regarding the easing of China export controls could serve as another major catalyst for the stock.

Robinhood (HOOD)

• The stock showed significant volatility, but ultimately strong performance, breaking through $100 and hitting $101 during the podcast.
• Bullish Catalysts:
  • Crypto Momentum: As a major platform for retail crypto trading, Robinhood's stock is seen as a direct beneficiary of Bitcoin's all-time highs. The host stated HOOD "would be over $100 with all this crypto momentum."
• Bearish Headwinds / Risks:
  • Florida AG Probe: The Attorney General of Florida launched a probe into Robinhood's marketing practices related to crypto.
  • The host believes this is a minor issue, calling it a "parking ticket" that the company will likely settle for $40-50 million and move on. He viewed any sell-off from this news as a buying opportunity.

Takeaways

• The primary driver for HOOD is the excitement and volume in the crypto market. The stock is a high-beta play on crypto sentiment.
• The Florida AG probe is a short-term risk that created a buying opportunity, as the market seemed to shake off the news and push the stock to new highs.
• The $100 level is a key psychological barrier. The stock's ability to break and hold above this level is a strong bullish signal.

Tesla (TSLA)

• The stock was trading around $308 - $310.
• Recent Developments:
  • Opening its first showroom in Mumbai, India.
  • Officially reached out to expand its Robotaxi service to Phoenix, Arizona.
  • CEO Elon Musk stated that the AI chatbot Grok will be integrated into Tesla vehicles by next week.
• Host's Personal Strategy:
  • The host is planning to build a position in Tesla, likely before its upcoming earnings report.
  • He identified a buying range of $280 to $320.
  • His plan is to start with 100 shares and sell covered calls (e.g., a $350 strike call) against the position to generate income and lower his cost basis.
  • He believes that despite the drama, it's very hard to bet against Elon Musk long-term, seeing Tesla as the "real world manifestation of AI."

Takeaways

• Tesla has multiple potential catalysts on the horizon, including global expansion (India), Robotaxi progress, and new software features (Grok).
• The stock appears to have found a stable trading range between $280 and $320. For investors looking to initiate a position, this range could be a strategic entry point.
• Using options, like selling covered calls, could be a strategy to manage risk and generate yield while holding a long-term position, given the stock's high volatility.

Crypto Treasury & Proxy Plays

This section covers companies that are used as investment vehicles for underlying crypto assets, primarily Bitcoin and Ethereum.

MicroStrategy (MSTR)

• Described as a leveraged play on Bitcoin. The host humorously calls the dynamic between MSTR, its options, and Bitcoin a "nice little Ponzi scheme."
• The cycle works as follows: As Bitcoin rises, MSTR rises -> options on MSTR go in-the-money -> market makers must buy MSTR shares to hedge -> MSTR share price rises further -> CEO Michael Saylor uses the higher stock price to raise more capital to buy more Bitcoin, pushing Bitcoin's price up.
• There was a discussion about the company's debt. Michael Saylor claims that even if Bitcoin's price fell dramatically, the company has financial strategies to avoid selling its Bitcoin holdings, though it would likely involve diluting shareholders.

BMNR (Bitcoin & M.A.P.S. Treasury) & SBET (Sharplink Gaming)

• These are discussed as Ethereum treasury plays, analogous to what MicroStrategy is for Bitcoin.
• BMNR, Tom Lee's fund, took a "nasty hit" and was trading at a high premium (mentioned as 12x NAV). The host is personally avoiding it due to the risk and dilution. Tom Lee's defense is that it's similar to the early, volatile days of MicroStrategy.
• SBET (Sharplink Gaming) recently purchased 10,000 ETH. It was noted as being potentially more attractive as it was trading at a much lower premium to its Net Asset Value (NAV) than BMNR (mentioned as 2x NAV).

Takeaways

• Investing in crypto treasury stocks like MSTR, BMNR, or SBET is a high-risk, high-reward way to get leveraged exposure to Bitcoin or Ethereum.
• These stocks are highly sensitive to the price of the underlying crypto asset and can be extremely volatile.
• Investors should be aware of the risks of dilution, as these companies frequently issue new shares to fund more crypto purchases.
• When evaluating these plays, understanding the premium to Net Asset Value (NAV) is crucial. A lower premium (like SBET) may present a better value than a very high premium (like BMNR).

Drone Sector Stocks

• A major investment theme discussed due to a recent announcement from the Department of Defense (DOD).
• Catalyst: Pete Hegseth of the DOD announced a new initiative to "unleash American drone dominance," including rescinding restrictive policies and bolstering U.S. drone manufacturing.
• This news caused a significant pre-market rally in several drone-related stocks.
• Watchlist created on the show:
  • Arrow (Ticker not specified, likely AVAV): Up ~10%
  • Red Cat (RCAT): Up ~18-30%
  • UMAC: Up ~12-25%
  • AeroVironment (AVAV): Up ~4-7%
  • Kratos (KTOS): Up ~4-11%
  • Ondas (ONDS): Up ~8%
  • Archer (ACHR): Up ~4%
• A guest noted that while hardware companies can be low-margin, the real value may lie in platform companies like Anduril (private) or those with a software/systems edge.

Takeaways

• The US government's focus on domestic drone production is a powerful bullish catalyst for the entire sector.
• This is a high-momentum, speculative trade. The stocks mentioned saw large initial pops and could be volatile.
• Investors interested in this theme could look at a basket of these stocks to diversify risk within the sector. AVAV and KTOS are larger, more established players, while names like RCAT are smaller and more speculative.

Health Insurance Sector

• The sector is facing headwinds from regulatory changes in the "Big Beautiful Bill" (BBB).

Oscar Health (OSCR)

• The stock was "tanking" after receiving downgrades from Wall Street.
• Wells Fargo downgraded the stock to $10.
• Jeffries downgraded the stock to $9.
• The downgrades were based on concerns about rising medical loss ratios and the impact of the BBB on their business model.
• The host noted that while the stock looks cheap, he is avoiding it because he doesn't have a deep understanding of the complexities of the healthcare industry.

UnitedHealth (UNH)

• Mentioned as a much larger, more established player in the space.
• A guest, Chris, stated he has been adding to his UNH position with the stock below $300.
• It's viewed as a more mature, potentially safer investment compared to the high-risk, high-reward nature of OSCR.

Takeaways

• The health insurance sector is currently under pressure due to regulatory uncertainty.
• OSCR is a high-risk turnaround play. It's cheap, but investors need to do significant due diligence on its business model and the impact of ACA subsidies.
• UNH is presented as a "leader" in the space. For investors looking for exposure to healthcare, buying the industry leader during a period of weakness could be a viable long-term strategy.