Ideas
System signal buys BTC and ETH.
Max bought BTC and ETH as part of a 'majors' trade after his systematic model flagged yesterday's selloff as a high-time-frame extreme buy signal. He thinks the dislocation produced a short-term trend reversal opportunity, although he flags that some higher-time-frame structures look broken.
Buy hated Plasma on offside positioning.
Max bought Plasma/XPL around 27 cents because it is extremely hated, has high OI-to-circulating-market-cap but still large volume, suggesting offside positioning; his systematic signals seek reversals in the most-hated names.
Holds Aerodrome in core portfolio.
After cleaning up his book, Jonah says his only crypto positions are Bitcoin, Aerodrome, and Hyperliquid; the cleanup indicates he consolidated into these core crypto holdings while reducing short-term risk.
Refuses to sell Bitcoin; megatrend to $1M.
Jonah refuses to sell his Bitcoin despite OG whale distribution; he views Bitcoin as a long-term fiat-debasement/mega-trend asset potentially reaching $1M and expects a further ~5x before national redistribution risk becomes a trigger to liquidate. He also thinks downside targets like 70k are not scary for long-term holders.
Short altcoin DATs after first blowup.
Max's trade for altcoins is to wait for the first altcoin DAT to blow up, watch the underlying alt's price action, then short the next 10 altcoin DATs likely to follow; he believes DATs were a major marginal buyer and only ETH/SOL have meaningful size.
DATs lose funding; avoid treasury companies.
Jonah is cautious on DATs because many trade below NAV and cannot raise more cash; they were a big driver of Bitcoin/alt buying, so their inability to raise forces the market to find a new marginal buyer and represents a wealth transfer from steady holders to fair-weather DAT investors.
ETH value accrual questionable; avoid.
Jonah is worried about ETH and thinks it is not investable now because he questions how value accrues to ETH if the future is Base/L2s, and he sees the next large marginal buyer (Tom Lee's vehicle) stepping back while ETH's store-of-value properties are inferior to Bitcoin.
Solana institutional role unclear; watch.
Jonah wouldn't write Solana off because it keeps coming back and onboards young users, but he is unsure how Solana fits institutional adoption when institutions build on Base and he sees the ecosystem as extractive; he calls it tempting to short but not an active position.
Government-backed DeFi exports US capital.
Max is very bullish on internet capital markets as a government-mandated initiative: stablecoins are Eurodollars 2.0 that export the dollar, and DeFi can export US stocks, bonds, and real estate to foreign bag holders as US assets are repatriated/sold by foreigners. He says you never want to fade a government-mandated initiative.
Average Punks capped near $1M.
Max has his Punk offered and thinks average CryptoPunks should not trade above $1M; buyers use fresh dollars, so Punks are more tethered to dollar prices than ETH, and he would sell around half a million, leaving the last 2x for someone else.
Buy HYPE dips on fee burns.
Jonah likes buying HYPE on dips because the Hyperliquid Foundation uses fees to buy and burn HYPE, giving it a non-retail buyer; on-chain finance could be a trillion-dollar category and HYPE stands out because it was fully airdropped with no VC cap table. Key risks are regulation/lobbying and centralized-exchange KYC pressure.
HYPE consensus can still win.
Max likes Hyperliquid's business model even though it is consensus/over-owned because fees get passed back to token holders as long as the product is used, similar to Meta/Nvidia being over-owned but still performing; he is worried about regulatory/Aster risks.
BitTensor best distributed-resources play.
Max sees distributed resources as one of crypto's four trillion-dollar long-term use cases and calls BitTensor the best example of that category.
Short Aptos on founder unlock exit.
Jonah highlights Aptos as a good short candidate because the project is 'obviously never going to happen' in his view, and the founder/team gets unlocks, sells, and quits, leaving no reason to be long.
Privacy coins hedge redistribution risk.
Max thinks political redistribution risk under Mamdani/AOC-type politics makes privacy assets valuable; he says you definitely want some Zcash or Monero stashed away, noting Zcash has been going up and privacy coins provide obfuscation beyond centralized-exchange Bitcoin mixing. He doesn't own any for context.
AI lifts S&P 500 efficiency.
Jonah argues that short-term AI makes every S&P 500 company more efficient with more EBITDA per employee, so asset prices should go up, even though he sees longer-term political redistribution risk.
This 1000x Podcast video, published November 05, 2025,
features Max Bronstein, Jonah Van Bourg
discussing BTC, ETH, XPL, AERODROME, Altcoin DATs, Digital asset treasury companies (DATs), SOL, DEFI, STABLECOINS, CRYPTOPUNKS, HYPE, TAO, APT, ZEC, XMR, SPY.
16 trade ideas extracted by AI with direction and confidence scoring.
Speakers:
Max Bronstein,
Jonah Van Bourg
· Tickers:
BTC,
ETH,
XPL,
AERODROME,
Altcoin DATs,
Digital asset treasury companies (DATs),
SOL,
DEFI,
STABLECOINS,
CRYPTOPUNKS,
HYPE,
TAO,
APT,
ZEC,
XMR,
SPY
