Brett:

I want to welcome our next guest. He’s on a mission to help us level up our crypto IQ by providing consultations to global citizens in the industry. So they are not left behind during the next transfer of wealth and technology revolution. He’s the founder and CEO of Crypto IQ Consulting, and he’s out of the Washington DC area. He’s also a native from there. He’s been studying and educating people on how to invest in a cryptocurrency market since 2012. With a diverse background, over 20 years of experience in business management, finance, and accounting. He’s become wealthy from a variety of crypto investments. Please welcome to the show with me, Zachary Yorke. How are you doing?

Zachary:

I’m doing great. Thank you for welcoming me to your podcast. I appreciate it.

Brett:

Absolutely. For our listeners to get to know you for the first time, would you give us a little bit more about your story and your current focus?

Zachary:

My story is I got into cryptocurrency about seven years ago. I heard it through a friend of mine who brought this something new to me. I’ve always been into finance going into numbers, never really got into the stock market. So this was kind of my wave in order to kind of touch something that’s similar to a stock market, in essence. So I got into that early on, took some investments out, took some loans, got into Bitcoin and Ethereum at a fairly early stage, and then also moved my money into some bitcoin IRAs, which I may speak on briefly today in regards to that, and so started early into the crypto industry seven years ago, and then always just continued to gain exposure to it. Then over the recent last year, I started my own business and quit, quit my job to start this full time just to educate people. Because due to some of the investments I’ve made, I’ve been able to do so for myself, and also just trying to help other people out to educate them on the good and the bad of the industry. So that once people start to learn more about crypto, they’ll have a good way to navigate the industry.

Brett:

Fantastic. Before we dive right into that and help us level up our crypto IQ, I do want to take one other step back, I want you to go back maybe to the earlier days when you’re in high school or just kind of growing up. I believe Zachary, we’ve all been given certain gifts in this life, given to us to be a blessing and help to others. So I’m curious, what are those one or two gifts you believe you’ve been given? How does it help how you help bless people today?

Zachary:

Sure, I would say one of those gifts was definitely having a big heart caring about people supporting others. That’s kind of why I created this business in order to get back, educate people and take people out of some of their financial woes. So really caring about others and trying to just do the best for people humanity in the world. So that’s always been my passion. That’s kind of why I’ve gotten created this business.

Brett:

Fantastic. Love that. By the way, you can learn more about Zachary York by going to crypto-iq.co. So let’s dive right into that, Zach. So what’s the number one secret to leveling up your Crypto IQ right now?

Zachary:

The number one secret is really educating yourself on the market, understanding that Bitcoin predominantly is about a third of the cryptocurrency market. So if you understand how Bitcoin moves and understand the market trends, that will kind of help you decide when it’s good to enter the market. I think that’s really the main key, even though I don’t personally have some investments in Bitcoin. I don’t fully educate people to invest in Bitcoin, just because it’s long term, it’s great, but it depends on what your desire is, if you’re looking for short term gains, Bitcoin may not get you that but Bitcoin will lead you into getting to other gains and other alternative coins, which are called altcoins that you may hear. so the main thing is really just to stay abreast of the trends of the market. The market has various different trends. Currently, the metaverse trend is very popular as Facebook is changing as far as Nike and Apple and another in other aspects of that nature. So trying to find the right trends in the industry is always good. But the key is really watching Bitcoin and knowing once it starts to make its move you want to be in, you want to be in prepper, you want to have some good coins, you don’t want to be never obviously never buying at the top, I’m always buying at the bottom,

Brett:

Got it. So Bitcoins, are a third of the market, and you want to make sure you understand how it moves and when it moves and what to do about that.be stay abreast of that. Also clarifying that you’re looking for long-term investments, which can be Bitcoin. But if you’re looking for a shorter-term, it could be something else. Is that a fair summary so far?

Zachary:

Yes, exactly. Awesome.

Brett:

So let’s dive right into the trend of the metaverse and how that maybe is changing the marketplace for crypto we saw Bitcoin hit a close to an all-time high at 69,000. dropped to about 35,000 to 36,000. Now it’s working its way kind of back up. So I’m curious, these last three months, and it’s been kind of a big truck for crypto, in general, these last couple of months. So what’s been your take on what’s happening right now? How is that affecting and changing the way you’re investing?

Zachary:

Sure. So I mean, for my elevation, it looks like the market tends to shift every three or four months, which is pretty much every quarter. So if you look at the market, back in July, was probably the last bottom and then it ran up through November. Then now we’re kind of getting, we’ve just hit a bottom and it’s slowly running up again. So I’m kind of analyzing the market as a three to four-month quarter market, where we’ll have some highs and then we’ll kind of hit a low. So even if you try to strategize your trading in that aspect, I think that may be good. Obviously, nothing is financial advice. But the aspect of it is those are the tools and immediate learning so I try to time when the bottom is in the market and then try to see where the growth is also a lot of things in the world that are going on right now obviously, with the interest rates rising in the war with Russia and Ukraine, those things kind of make the market a little more volatile. To those issues within the news become settled. Once those become settled, you can kind of see Bitcoin regaining strength and kind of get it kind of move up. So I think since the interest rates information is kind of pretty much fully out there that’s already been somewhat already priced into the market, as well as it looks like things tensions are slowly dying within a possible war. So those things kind of helped me to kind of maybe determine when to enter and exit the market. But I think keeping a close eye as far as the news is because those are the times when I want to watch now that it looks like the news is out there. Maybe things are starting to move and then like I said the three to four-month trade seems to be where bitcoin is moving it before used to be cycles of three to four years now like cycles of three to four months.

Brett:

Do you think that’s because of just the amount of information and how quickly things people know things? Or just the evolution of more people in cryptocurrency, more and more capital in that? What’s shorting in those cycles down to three to four months versus the three-year period?

Zachary:

Yep, I believe, definitely more institutional growth. As well as many new customers, just random customers from everybody moms and pop. So I think that that kind of is doing a lot of it as well. Then also some of the additional training mechanisms that they have within the stock market in the various different ETFs and things of that nature that they work towards sometimes kind of does some things to the price around each month. So I think some of that is all aspect of growth and aspect of kind of how the current market is engulfed into crypto.

Brett:

So let’s talk about the metaverse now in like real estate that’s a lot of our listeners are heavy into real estate investing, 1031 exchanges, deferred sales trust, opportunity zones, different ways to defer capital gains tax and invest. Now crypto has been out there. It’s kind of been like, is it for such real estate people? Should I get a little bit into it? I think it’s becoming more applicable. Now you add the metaverse where you can buy basically real estate pieces inside of the metaverse. So talk a little bit about just the practical application of how you see the metaverse and then also applying that to cryptocurrency and how that’s going to help that also rise?

Zachary:

Sure. Would that be in relation to real estate or just in general?

Brett:

Kind of in general, like the correlation. I feel like it’s the metaverse, it is kind of a hybrid between the real estate world and then the cryptocurrency world just that whole thing. So I’m still trying to wrap my mind around how this all correlates. Curious if you had an opinion on that one way or the other?

Zachary:

Sure. I think the metaverse industry is just in its infancy. So a lot of companies are going to indulge in it. They already have put millions of millions of dollars into it. So I feel that it can only grow it. There’ll be so many different layers of the metaverse. So that’s where you’ll get a little convoluted of this company has this and this company has that. But I think in essence, it creates an identity for people, especially once you incorporate NFTs and things of those natures that mix into the metaverse to give people utility and give people the ability to like earn things and things of that nature. I think it’s here to stay. I mean, I’m just reaching, seeing the article recently where McDonald’s is creating actual McDonald’s stores and within the metaverse and you can actually order and get your food through there. So I mean, I think that a lot of companies, even Walmart and things of those natures are entering the metaverse, they have a video out, I can check on YouTube about a sample of how they anticipate the metaverse to be so everyone has their own idea of what the metaverse will be. I think that will generate a lot of new users and new people. So I think that the thing is intriguing to me. I’m invested in it.

Brett:

Let’s now shift to capital gains tax. So one of the biggest challenges we find is people want to sell high and buy low especially cryptocurrency. They bought a coin, and it went from $100,000 to $2 million in a three-month period. But then it crashes down to $600,000 in another three month period. I’m like, I lost it all. They feel trapped by this capital gains tax because if they sold high when they want to, they’re gonna get hammered with 30% to 40% is going to be wiped out. So, it’s a real thing where they don’t they do not want to sell. I mean, they want to sell, they don’t want to be hit with a tax. So what’s been the biggest frustration that you’ve seen when it comes to wanting to exit but having to pay that tax?

Zachary:

That’s an excellent question. I’ve had that dilemma several times. So I would say in essence as I said, my opinion, though some investments that I’ve had, it may not be worth waiting for between short term and long term capital gains tax, depending on how much profit you’ve made, or at least worth, it’s always worth taking some profits. But obviously, if you wait 366 days, which in essence is considered a long term capital gain, then you’ll obviously be taxed less than short term capital gains, which is in that first 365 days, but in my opinion, I’ve had some coins that have ran up and made a lot. Sometimes I had that dilemma, do I want to take out now where I can receive a lot of this profit, but I know I’ll be taxed maybe 15% to 20% higher? Or do I wait, but do I don’t know what that coin will be in a year? So that’s the dilemma that you will face. But I think it depends on how large profit, real profit margins are, and how much you’re willing to take a tax it depending on the difference between long term and short term.