Good morning allegedly squad the daily members. Thank you for joining me in today's video. I have some incredible stories, but first i want to tell you how much i love bitcoin bitcoin is amazing. It's being adopted by institutions.

Elon musk absolutely loves hold on i'm getting some news. Huh hang on a second, yes, news are just in elon. Musk does not love bitcoin anymore. In fact, he just assassinated it on twitter.

A lot to talk about. I'm gon na cover elon musk, his tweets. What's actually going on behind the scenes also, we got an amazing interview from henry rollinson, the ceo and founder of lucid, embarrassing himself. In my opinion on television.

Also, jim cramer is opening up a new beef with kathy wood, calling her names believe it or not. I'm not even lying kevin o'leary apparently predicted this move by elon about two weeks ago. I'm gon na play you that clip which i dug up as well as speaking of kevin. He just bought six million dollars worth of palliative stock during the dip, which is actually very interesting a lot to cover, as always, don't click, nothing, don't smash, nothing don't subscribe, don't buy! Nothing.

Just give me your attention for the next five minutes and i'm gon na give you the most interesting stories from the stock market. Speaking of my name is tom. I used to be a former senior financial analyst. I just punched my chair, but now i'm a full-time youtuber here to bring you the most interesting news from the stock market and let's just get started.

First of all, we absolutely have to talk about elon killing bitcoin. Now i just said killing with such a russian accent. I can't believe it, but it is what it is now. The whole story actually started.

Yesterday elon put out this tweet about 12 hours ago, saying tesla and bitcoin, and then there was an image attached that pretty much had tex saying. Tesla has suspended vehicle purchases using bitcoin, we're concerned about rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal, which has the worst emissions of any fuel. Cryptocurrency is a good idea in many levels and we believe it has a promising future, but this cannot come at a great cost to the environment. Tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy.

We're also looking at other cryptocurrencies that use less than one percent of bitcoin's energy, slash transaction and just about an hour ago, he tweeted out this this one cbeci.org. By the way he collapsed, the website it's down, nobody can get in energy usage trend over the past few months is insane. He followed it up with this image, basically showing what went on from 2016 all the way to today. As far as energy consumption from bitcoin mining, which seems to be very parabolic now here's the thing, let me clarify a few things here, because this is getting out of hand, video game, enthusiasts and mma fans will know exactly what just happened.

We had a great combo, a left hook, followed by an uppercut ela, took two shots and absolutely killed bitcoin and took every other cryptocurrency down with it. Now. First of all, i'm sure a lot of people will come out from their holes. Essentially hating elon you're, going to see a lot of pitchforks a lot of torches.

Essentially, all the bitcoin community cryptocurrency community is basically going to be disengaging from elon, saying he's a hater and what not he's a hypocrite he's a hippothes hippothe, i can't say hippopotamus anyway, you know, that's probably what's gon na happen, he's gon na catch a lot of Flack for saying that and, however, let's put things in proportion, first of all, he's not gon na be selling any bitcoin. By the way, i don't think he can, if you sell some bitcoin after all, the hyping he's been doing, he might get in trouble with the sec, so not sure how long this will last this bitcoin hold, but he's definitely in the trenches with this one. He can't really sell and by the way shout out to patrick boyle, who actually brought this down to me on twitter. A few minutes ago, very interesting discussion go check out.

His channel link is going to be below so he's not going to be selling any bitcoin. So nothing dramatic happened here. However, i want to just caution you a little bit about. What's going to happen, a lot of people will be reading the statement, because, if you take a look at the actual statement, it says that they're going to be exploring less energy consuming coins, i'm going to read you the exact quote.

Essentially, a tesla will not be selling any bitcoin and we intend to use it for transactions as soon as mining transitions to more sustainable energy. We are also looking at other cryptocurrencies that use less than one percent of bitcoin's energy and transaction. A lot of people will be jumping into conclusions way too early about stuff like ethereum or doge. So what's going on here, so i think a lot of people will be speculating with all these altcoins because he did say they're exploring new alternatives with less energy consumption.

So i'm sure a lot of people will be talking about ethereum and the change the theorem is going through as far as energy consumption, a lot of people will be talking about doge because he did post a poll a few days ago asking people on twitter if They want tesla to accept doge as payment for cars, not sure how serious that paul was. That might have been just a joke. I honestly don't know the thing with elon he's as crazy as they come, so that thing might have been real. It might have been.

Not it's essentially a crapshoot, there's a 50 chance that that was actually serious or not. Nobody knows now. I don't think you should go crazy about the statement in any capacity as far as what's the future of bitcoin, i think this statement changes in any way shape or form the future of cryptocurrency and bitcoin. The same factors still are in play: altcoins are dangerous, bitcoin and ethereum are the least dangerous of them, and i think they do have a massive future ahead of them as far as their play in our economy.

So i'm definitely still long-term bullish on bitcoin. Nothing has changed, however, that doesn't mean we won't see a massive dip even further in bitcoin and other cryptocurrencies, because if you notice bitcoin is kind of like a magnet when it goes down, it pulls everybody down with them like a guy who's like i'm not going To go down myself, i'm taking you all with me to jail, so see ethereum, ripple, doge everything's going down, however, in the long run. Whatever needs to happen with cryptocurrency will happen, regardless of this tweet. This tweet changes nothing good or bad.

So if you were long on bitcoin and crypto before this doesn't change nothing if you were hating or shorting whatever you want to call it that doesn't change nothing. So i guess the bottom line here is that the sky aren't really falling if you're a fan of bitcoin, nothing change. If you don't like bitcoin, nothing change. What's interesting that a few days ago, kevin o'leary went on tv.

I believe it was yahoo and he was talking about the fact that bitcoin and renewable energy is the next thing he was essentially saying. Well, i don't think people will be accepting bitcoins that are not from renewable energy, so i'm gon na be starting up. This whole new trend, we're gon na, be loading up on bitcoin that was mined with renewable, responsible energy. There is a big problem brewing in this space because i you know - and i've mentioned this a couple of times when i disclosed that i was moving to three percent waiting.

I got a mountain of calls from institutional investors. Saying wait. A second uh. Where are those coins from, and i said? Well, i mean everybody knows you can tell the time of creation, but you can't tell location of creation, because currently 60 of coins mined in bitcoin come from china, where they don't care about sustainability, and they certainly have you know, issues around human rights, and so there Are many institutional uh clients that do not want to own so-called blood coin from china and, as a result, we've got a really interesting situation, emerging um that you know the actual province of a coin over time.

One that's mined sustainably, one, that's mined in in the jurisdiction that that you know supports human rights and everything else. The ethics committee's approval could be worth more than than just a generic coin. That can't prove its providence and i'm not sure when that's going to happen, but i have certainly shifted my uh holdings. I don't own random uh, you know etfs with blood coin in them.

I know the providence of where my my my wallet coins were mine now, and that means i've had to take equity positions in minors. I've had to start investing in them and for the next story of the day we got henry rawlinson going on cnbc and may f full of himself, allegedly in my opinion and like everything here, it is just my opinion. By being accurate, might be wrong might be the ramblings of a madman. You got ta, do your own research, allegedly blah blah blah? Let me play the clip and i'll tell you what i think about this interview.

Peter rawlinson is the ceo of lucid motors and a former tesla engineer, peter thanks for being back with us, give our audience an update on production and supply chain and whether you're still on track to hit the targets that you laid out previously. More than 20 000 vehicles in 2022 and 10 billion in revenue in 24., so very much on track, uh for startup production of what i hope will be an outstanding product in the second half of this year. Right, peter start a production, but are you on track for 20 000 vehicles in 2022, we're on very much on track for our plan uh we're aiming for over 577 vehicles this year and uh a significant increase throughout next year, as as we grow the business okay. But you won't repeat that 20 000 number - i'm i'm noticing peter - are there some hesitations around? That is there any reason to think that you might not be able to hit that number that you laid out, i'm very optimistic about our future potential for manufacturing.

Where are we going to start production this year in the second half uh, we're predicting uh 577 vehicles this year and significant growth next year and here's why? I think that this interview was as embarrassing as they come because he was asked mickey mouse questions and here's the problem dodging questions, it's much worse than admitting that you're not going to perform up to par just say: hey, i'm not sure i don't know we made Those projections back in the day not sure we're much more committed to quality than to meeting some number. Essentially, he could have said we'd rather put out half the amount of cars but make them quality rather than hit that number. So i can't commit to that. Instead, he was just repeating himself like a robot, essentially ignoring her question, which is the worst thing you can do and the reason it's so shocking to me that this actually happened, because i think it's a good company with a good ceo with a good product with A very interesting concept: why would you dodge these things? That's a rookie move, so embarrassing very disappointing.

Let's see what happens for the next story of the day, we got kevin durie again with another cameo, not that cameo by the way he's on that cameo as well. You can get him to play you a song and sing you a happy birthday. Whatever now kevin already spoke on cnbc, he participated in the stock draft. He picked palletier as one of his two stocks and he said that it's an amazing stock.

Whatever now, it seems that they're walking the walk, oh shares, which is this company, just purchased six million dollars worth of parenting, stock, 283, 000 shares and change of planetary almost 284. That means that he actually believes in the company enough to put in a couple million, not a huge investment. This isn't cathy wood with 2.8 million shares, but hey he's walking the walk and speaking of kathy, you can't let a good crisis go to waste, and jim cramer is right on that bandwagon of people hating on caffeine, 2020. Cathy wood is the best thing since sliced bread, 2021 mainstream media, actually hates cathy, and you can trust jim he's going to be jumping on that bandwagon and as long as it's not bear stearns, which he recommended literally before they went out of business.

I'm not saying that john stewart actually proved that we can show you that clip, but i'd rather not in any case. So jim cramer is a populistic entertainer and that's fine, and i think that him calling kathy with names and calling her etf woodstocks is entertaining. And it's funny and it's not a huge deal, i'm not sure she's even familiar with this, but he was actually saying something really interesting, which i think should not be taken out of proportion. He was saying: well now it's not a good time to trade.

These talks. She has in her etf we're rotating we're cycling whatever now, here's why i think both of them might be right, because jim cramer is thinking like a trader he's thinking, okay, which stocks i want in my portfolio today, so they can outperform for the next three months. Cathy wood is thinking in a five six seven years span, so she doesn't really care about that. So what you have here is almost like a scene out of a fellini movie.

You have two people arguing about two different things on two different languages. When they can't see or hear each other he's talking about trading and she's talking about long-term investing, that's why i think this argument is completely cachophonic as hell, which is amusing, good tv and, as always, a huge thanks for the channel members and the patrons for making This possible, thank you so much by the way this shirt is available in the merch store, go, get it low quality high prices just the way we like it, we'll see you guys next, video.