Bitcoin has unlimited supply; Michael Saylor selling signals a purge. Bitcoin is a leading indicator for risk assets, and the stock market is starting to follow.

There's unlimited supply of cryptocurrencies. Michael Saylor, who said he would never sell, has started to sell. The key theme is everything is getting tokenized, and Tether is on track to potentially flip Ethereum.

Cryptocurrencies and precious metals have no earnings; stock market earnings are strong. Investors are selling cryptos (duds) and buying stocks (studs). Expect continued selling of Bitcoin as speculation is purged.

Cryptocurrencies and precious metals have no income, no earnings, no revenue. The earnings from the stock market are off the charts. You sell the duds and buy the studs. The stock market is the only game in town.

Reiterates call for Bitcoin to lose a zero (to 10,000). Sees a pattern of pumping and dumping across assets (Bitcoin, natural gas, corn, silver). Warns that surging volatility in gold and crude oil often precedes stock market declines.

My call starting last year was for Bitcoin to go back to 10,000. Bitcoin pumped in the beginning of the year, now it's dumping. Natural gas pumped, now dumping. Corn was up, now down. Silver was up 60%, now down. We have never seen surging volatility in gold and crude oil without it trickling up to the stock market.

Retirees are overexposed to risk assets. Cryptocurrencies declining and gold's rally are warnings. Investors should adjust, not be overweight the most expensive risk assets. US Treasury long bond at 5% is attractive.

Being in Florida, you see a lot of retired people way overexposed to the stock market. We have more exposure of wealth to the stock market than any time in history. Cryptocurrencies are declining, warning you. Gold's big rally last year was warning us. US Treasury long bond at 5% is just too attractive.