The Last Trade: Jackson, Michael, and Brian go signal versus noise with Bitcoin back near $58K and roughly 50% off its all-time high. They make the deep value case against the largest Bitcoin ETF outflows in over two years, arguing the selling is retail capitulation and an AI rotation trade rather than a true institutional exit. They explain why the 200-week moving average is historically the time to accumulate and why DCA beats chasing performance. They break down Saylor's stretch (STRC) rescue plan, X Money's 6% yield launch, gold's quiet underallocation, and Gavin Newsom's billionaire tax. They close on America 250 and Bitcoin as the real No Kings protest.
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The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.
🎙️ About This Episode
The guys open on the Bloomberg "crypto's institutional buyers retreat" headline and a record month of roughly $4 billion in Bitcoin ETF outflows, the largest since the funds went live over two years ago, and argue it is mostly retail capitulation plus an AI rotation into names like Nvidia and Broadcom rather than a true institutional exit. They make the deep value case: Bitcoin near $58K and about 50% off the 2025 peak of $126K, the 200-week moving average as a historic accumulation zone, and a viral River retrace chart that some read as bearish but they frame as a reason to DCA and leg in. The signal-versus-noise segment digs into Strategy's stretch (STRC) confidence crisis, covering Saylor's five-point plan, a dividend bumped from 11.5% to 12%, a Bitcoin monetization program willing to sell up to $1.25 billion of BTC, and Parker Lewis's note on a $1.15 billion equity raise subordinated behind $22 billion in liabilities. They unpack X Money's launch (6% yield, up to $10 million in FDIC coverage, 3% cash back, a Visa metal card), the censorship and yield-source questions it raises, and Ford rehiring 300 engineers after AI failed its quality checks. They close on gold's underallocation from the In Gold We Trust report (over 80% call gold sensible, yet allocations sit near 1%), Gavin Newsom's national billionaire's tax and the Mamdani socialist wave, and an America 250 round-the-horn that ties Thomas Jefferson's warning on banking establishments to Bitcoin as the ultimate No Kings protest.
🧠 Chapters
00:00 - Market Sentiment and ETF Flows
02:55 - Retail vs Institutional Investors
05:54 - DCA Strategies and Long-Term Conviction
08:46 - The Impact of AI on Investment Dynamics
12:08 - Financial Advisors and Emotional Investing
15:07 - Stretch and Market Confidence
17:50 - X Money and the Future of Financial Products
32:39 - Exploring X Money and Financial Integration
36:00 - The Role of AI in Financial Services
40:01 - Gold's Place in Modern Investment Strategies
45:01 - Gavin Newsom and the Call for an Economic Reset
52:03 - Independence Day Reflections and Bitcoin's Role
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