Nathaniel Whittemore

As another wave of major financial institutions announce bitcoin plans, it’s getting harder for the MSM to simply print the same old FUD. This episode is sponsored by Nexo.io. Today on the Brief: A follow-up on celebrity in crypto Dapper Labs and BlockFi raising at multibillion dollar valuations Cathie Wood and ARK increase their bitcoin position Our main discussion looks at the latest institutional bitcoin news: Deutsche Bank – the world’s 21st largest – quietly revealed a digital asset custody program with much bigger ambitions in a December 2020 World Economic Forum report Bloomberg is reporting that Morgan Stanley’s $150B investment […]

A reading of Nic Carter’s latest essay for CoinDesk on the inappropriateness of comparing the energy consumption of bitcoin and Visa transactions. Source link

A recap of a swath of news about corporate players coming into the crypto space, and why it could change the landscape of regulation. This episode is sponsored by Nexo.io. On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including: He also argues that more corporate actors investing in bitcoin and crypto makes it significantly less likely the U.S. government would look towards severe regulation. Image credit: Blablo101/Getty Images Plus Source link

Hip-hop mogul Sean Carter and Jack Dorsey are putting 500 BTC in a blind trust. This episode is sponsored by Nexo.io. On today’s episode, NLW breaks down: The Miami Commissioners vote to start educating people about bitcoin and crypto The Nigerian Senate debate following the Central Bank of Nigeria’s recent crypto ban Why Jay-Z and Jack Dorsey’s bitcoin trust matters NLW argues the relationship between the crypto industry and celebrities is very different this time around compared to the previous ICO-led bull market. See also: How Nigeria and India Are Dealing With Crypto Bans Image credit: Shareif Ziyadat/Getty Images Entertainment Source […]

A new analyst report from the Royal Bank of Canada thinks that with a small investment Apple could disrupt the crypto exchange place and pay for it by buying bitcoin. This episode is sponsored by Nexo.io. Today on the Brief: A shifting inflation narrative Reddit raises $250M and has a $6B valuation Castle Island Ventures announces $50M fund II Our main discussion: Might Apple by the next company to dive into bitcoin? In the wake of Tesla’s surprise $1.5 billion bitcoin purchase announcement, many are wondering which Fortune 500 will be next. According to a new report from the Royal Bank […]

A reading of Ben Hunt’s latest essay for Epsilon Theory. Source link

Wyoming’s Cynthia Lummis – the first U.S. senator to publicly hold bitcoin – has been appointed to the key financial regulatory committee. This episode is sponsored by Nexo.io. On this edition of The Breakdown’s weekly recap, NLW discusses: The state of WallStreetBets The Bitcoin for Corporations event ETH all-time highs in advance of CME ETH futures Tether Cynthia Lummis on the Senate Banking Committee This week on The Breakdown: Image credit: Caroline Brehman/Getty Images News Source link

The Ikigai Asset Management investor discusses WallStreetBets, institutional investors and recent bitcoin critiques. This episode is sponsored by Nexo.io. On today’s episode, NLW is joined by Travis Kling, co-founder and chief investment officer of Ikigai Asset Management. They discuss: Image credit: Overearth/Getty Images Plus Source link

Insights from PayPal’s first quarterly earnings report since launching crypto services. This episode is sponsored by Nexo.io. Today on the Brief: Elon Musk back to DOGE trolling Bank of England says to prepare for negative interest rates Janet Yellen on “Good Morning America” discussing retail investors Our main discussion: What did we learn about PayPal’s crypto strategy from its quarterly earnings report? In this episode, NLW breaks down: How PayPal’s perspective on crypto evolved What we learned about the success of its offering in Q4 2020 What’s next for crypto at PayPal in 2021 Why its biggest play is squarely focused […]

As GME plummets and traditional financial media turns its attention elsewhere, where does the retail trading insurgency go from here? This episode is sponsored by Nexo.io. WallStreetBets is having a rough day. Its stocks are crashing. Champions from as recently as last week are selling out. More brokerage apps are turning off buying. In this episode, NLW explores what it means for this set of assets and the larger shift in power from institutional to retail investors. He argues, ultimately, that over the last year retail traders of the type led by WSB have established themselves as too powerful a force […]

The media keeps saying WallStreetBets is going after silver; WallStreetBets members say it’s a campaign to co-opt and divide them. This episode is sponsored by Nexo.io. Today on the Brief: Elon Musk talks bitcoin on Clubhouse India trying to ban crypto? DEXs have best month ever in January Our main discussion: Has WallStreetBets been infiltrated by hedge funds? Reddit community WallStreetBets became headline news last week when its short squeeze of GameStop (GME) nearly brought a famed hedge fund to its knees. According to Twitter personalities and the mainstream media, the community has now turned its focus to squeezing silver. Except, […]

A reading of Dalio’s first long-form essay on his thoughts about bitcoin and cryptocurrencies. Today’s “Long Reads Sunday” is a reading of Ray Dalio’s recent LinkedIn post, “What I Really Think of Bitcoin.” In his interpretation, NLW argues the post shows Dalio and Bridgewater are at the beginning of a deep dive into the space. Source link

The latest in the saga of WallStreetBets vs the world. This episode is sponsored by Nexo.io. In this edition of the Breakdown’s weekly recap, NLW looks at: Robinhood’s ham-fisted explanations for why it shut down buying for GME and other stocks Why the root cause seems to have been insolvency How politicians are gearing up for political inquiries around the trading shutdowns How WSB is reacting to the shutdown attempts This week on The Breakdown: Image credit: Tiffany Hagler-Geard/Getty Images Source link

The price action is fun, but the larger significance is about decentralized alternatives to today’s financial system. This episode is sponsored by Nexo.io. Last night, Tesla and SpaceX founder Elon Musk changed his Twitter profile to a single word: “bitcoin.” He also tweeted a cryptic message: “In Retrospect, It Was Inevitable.” The price of bitcoin surged in the wake of the tweet, as did Google searches for “bitcoin.” The price increases liquidated some $387 million in short positions. In this episode, NLW breaks down the market reaction to Musk, the significance of the tweet and why it all connects to the […]

The retail trader insurgency has massive implications for the future of capital markets. This episode is sponsored by Nexo.io. This week, a collective of foul-mouthed internet memers took down some of Wall Street’s best-known hedge funds. In today’s episode, NLW looks at: Image credit: Spencer Platt/Getty Images News and WallStreetBets Subreddit Source link

One of investing’s loudest critics of China shares his assessment of where the U.S. political and business relationship with the country is headed. This episode is sponsored by Nexo.io. In this episode, NLW speaks with Kyle Bass. Kyle is the founder and chief investment officer of Hayman Capital Management, a hedge fund focused on global events. He is known for correctly predicting the subprime mortgage crisis, as well as for his outspoken and critical views on China. In this episode, he and NLW discuss: Image credit: MicroStockHub/Getty Images Plus Source link

The document that started it all, in audio form. This episode is sponsored by Nexo.io. For this week’s Long Reads Sunday, NLW reads the document that started it all – the Bitcoin White Paper. Interestingly, this document was released under an MIT open-source license, available free to all. Image credit: Emir Hoyman/Getty Images Plus Source link

Reports are that Chris Brummer – author of a volume on crypto assets and frequent speaker on digital currencies – will chair the CFTC. This episode is sponsored by Nexo.io. On this edition of the Weekly Recap, NLW argues that while bitcoin’s price was the short-term story of the week, the medium-term story was all about the transition of power in the U.S. to the new Biden Administration. In it, he discusses what the appointments (reported or confirmed) of Janet Yellen, Gary Gensler, Michael Barr and Chris Brummer suggest about the future of crypto policy. Image credit: Chip Somodevilla/Getty Images News […]

While there was plenty of FUD flying around, it wasn’t the real reason prices pulled back so significantly. This episode is sponsored by Nexo.io. Today on the Brief: Home sales up, home supply down Biden’s first test on the stimulus Euro pessimism Our main discussion: Why the bitcoin dip wasn’t caused by FUD. Anyone paying attention this week had reasons for frenetic worry. Janet Yellen’s comments on criminal activity. Persistent questions around Tether. A non-story about a double-spend that got amplified by mainstream media. In this episode, NLW argues that none of these actually explains the dip. Instead, he argues, they […]

As a new administration is sworn in, how will one if its most important officials – nominated Treasury Secretary Janet Yellen – impact the digital assets space? This episode is sponsored by Nexo.io. Today on the Brief: Jack Ma is not dead The latest in crypto M&A Deutsche Bank survey sites bitcoin as biggest bubble Our main discussion: Yellen’s impact on bitcoin and digital assets In this episode, NLW breaks down the cryptocurrency FUD competing to be the “wall of worry” for the new 2021 bull market, including Tether FUD, environmental FUD and the idea that crypto is only used for […]

According to a Goldman insider, the investment bank will leap into crypto custody soon. This episode is sponsored by Nexo.io. Today on the Brief: Gary Gensler is officially Biden’s pick for SEC chairman Investors are betting against the U.S. dollar Grayscale has best day ever with $700 million in investment Ethereum reaches new all-time high Our main discussion: Goldman Sachs reportedly coming to crypto. Over the last year, many traditional financial institutions have recanted previous skepticism to join the bitcoin space. For most of that time, Goldman Sachs has been a noticeable holdout, saying as recently as last May that bitcoin […]

At the end of an 80-year global debt supercycle, who benefits from having the U.S. dollar as the world’s reserve currency? Source link

This week’s Long Reads Sunday is a reading of the “Stone Ridge 2020 Shareholder Letter” by Ross Stevens, CEO and co-founder of Stone Ridge Asset Management, discussing the history of America, sound money and Stevens’ bitcoin “aha” moment. Source link

The second full business week of January has demonstrated many trends that NLW argues will shape bitcoin and crypto throughout the year. This episode is sponsored by Nexo.io. On “The Breakdown’s” Weekly Recap, NLW argues that this week is exemplary of a set of trends that will define 2021, including: Image credit: glorcza/Getty Images Plus Source link

The entrepreneurial mayor brings his recruitment of tech talent to the crypto space with the potential of a 1% investment of the city’s reserves into BTC. This episode is sponsored by Nexo.io. Today on the Brief: Initial jobless claims grow the most since March Biden unveils emergency relief plan Fed Chair Powell discusses CBDCs and stablecoins Our main discussion: Is Miami about to put 1% of its treasury into bitcoin? Since December 2020 there has been a lot of conversation about whether Miami could become the next Silicon Valley, or at least recruit a big swath of entrepreneurial talent to set […]

After his most recent stint teaching about blockchain at MIT, former CFTC head Gary Gensler is reportedly the next SEC Chair. This episode is sponsored by Nexo.io. Today on the Brief: Visa drops $5.3B Plaid acquisition after DOJ antitrust suit ECB President Christine Lagarde discusses bitcoin and digital euro Acting OCC chief Brian Brooks to step down this week Our main discussion: Gary Gensler rumored to be the new SEC Chair. In this episode, NLW discusses: Gensler’s background at Goldman, CFTC and MIT Gensler’s MIT course Previous statements on Bitcoin, Ethereum, and Ripple The crypto communities reaction to Gensler at the […]

The International Business Times reports China might nationalize Alibaba. Here’s what that has to do with China’s digital currency efforts. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co. Today on the Brief: Whales accumulated during yesterday’s crash Kentucky legislators introduce bill to attract crypto miners UBS lowers the threshold for charging savers because of negative interest rates Our main discussion: What China’s prospective nationalization of Alibaba has to do with the nation’s digital currency efforts. Gives a background on China’s digital currency project Discusses why the DCEP is motivated by a larger attempt to internationalize the […]

As the price crashes more than 20% in 24 hours, NLW describes the “wall of worry” around regulation that might characterize this cycle’s FUD. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co. Today on the brief: Trump ejected from social media Bakkt confirms plans to go public via SPAC NYDIG buys Digital Assets Data Our main discussion: Are we at the beginning of a new bitcoin FUD cycle? In this episode, NLW looks at: What happened with bitcoin’s big price crash How the crypto community is reacting to the dip New regulatory FUD out of the […]

A reading of two recent essays by former bitcoin skeptics who have changed their tunes. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co. On this week’s Long Reads Sunday, NLW reads two pieces from former bitcoin skeptics who have changed their mind about the asset. Image credit: Talaj/Getty Images Plus Source link

Transformative regulatory guidance, important macro tailwinds and, of course, a stunning run-up past $40,000. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co. On this edition of The Breakdown’s weekly recap, NLW looks at what was one of the most spectacular and surprising weeks in bitcoin and crypto history. Specifically, NLW discusses: Image credit: peshkov/Getty Images Plus Source link

What a new package including more direct payouts to citizens plus big infrastructure spending mean for bitcoin and markets as a whole. This episode is sponsored by Nexo.io and this week’s special product launch: Stacks.co. Today on the Brief: U.S. loses 140,000 jobs in December Chamath’s SoFi SPAC A SPAC for Bakkt Our main discussion: upcoming stimulus plans As the dust (finally? sort of?) settles on elections that began last year, the Democrats are looking to jump right out of the gate with a new set of stimulus plans, including both payments to individuals as well as big infrastructure spending. In […]

As the Democrats appear to be headed to victory, how does their new U.S. Senate majority impact markets as a whole and bitcoin more specifically? This episode is sponsored by Nexo.io and this week’s special product launch Stacks.co. Today on the Brief: ShapeShift goes full DEX Neil Young and the changing business of music China stocks delisted from NYSE Our main discussion: What are the implications of Georgia’s runoff elections for bitcoin and markets as a whole? In this episode, NLW discusses: The immediate response of Crypto Twitter to the victory for Dems Why Kelly Loeffler was a disappointing industry rep […]

A new interpretive letter from the Office of the Comptroller of the Currency paves the way for stablecoins and public blockchains to be fully integrated in the financial infrastructure. This episode is sponsored by Nexo.io. Yesterday, the Office of the Comptroller of the Currency released Interpretive Letter 1174. The letter allows banks to participate as nodes in “independent node verification networks” (which you might better know as blockchain networks) as well as use stablecoins for payments settlement. In this episode of The Breakdown, NLW looks at: Source link

Bitcoin has started 2021 off with a bang. Here’s what investors and analysts think is driving the rise (and today’s dip) as well as predictions for what happens next. This episode is sponsored by Nexo.io. The end of December was a momentous time in bitcoin’s history. Not content to clear the psychological barrier of $20,000, bitcoin’s price smashed up almost all the way to $30,000, although it would take the turn to the new year to hit that new high-water mark. In this episode, NLW looks at interpretations of why BTC is rising, why it dipped today and what analysts and […]

The macro analyst looks at unexpected sources of strength in the economy. This episode is sponsored by Nexo.io. Tony Greer is a macro analyst and author of the Morning Navigator Newsletter. In this conversation, he and NLW discuss how central banks continued to kick the can down the road on debt as well as unexpected sources of strength for the economy heading into 2021. Source link

The prominent gold and bitcoin macro commenter discusses a new generation of institutional investors. This episode is sponsored by Nexo.io. Dan Tapiero is an investor and entrepreneur with deep experience in gold and bitcoin. In this conversation with NLW he discusses the new group of institutional investors coming into the space and why, for them, bitcoin represents much more than just a hedge against possible future inflation. Source link

The podcaster and CEO of Onramp Invest discusses DeFi, income inequality and the opportunity for bitcoin in 2021. This episode is sponsored by Nexo.io. The wealth adviser and CEO of Onramp Invest discusses why the Federal Reserve continues to ignore its role in income inequality and what the bitcoin community can do to be a force for positive change. Source link

A look at privacy and infrastructure advances that will shape the bitcoin ecosystem in the years to come. Alyse Killeen is the founder and managing partner of StillMark, and has been investing in bitcoin companies since 2013. While much of the conversation this year has been about high level narratives and new institutional investors, Alyse breaks down the technical advances that happened this year. Source link

The Santiago Capital investor takes a look at what 2020 taught us about his notable economic theory. Brent Johnson is an investor at Santiago Capital and the creator of the well-known “Dollar Milkshake Theory.” In this conversation with NLW, he discusses what 2020 taught us about the state of the dollar around the world. Source link

The popular economist talks about the K-shaped recovery and why we could be in for more pain in 2021. Daniel Lacalle is the chief economist for Tressis SV and a well-known economics personality. In this conversation with NLW he discusses the devastation of small businesses in America and around the world and why the recovery could be less even than people think in the year ahead. Source link

A macro and bond specialist joins NLW to discuss the economics of 2021. George Goncalves has been a macro analyst specializing in bonds for more than 20 years. In this conversation, he and NLW discuss the story bonds are telling the market and why central bank digital currencies are likely to have an important part of the macro conversation in 2021. Source link

One of the most popular economics and bitcoin YouTube host joins NLW for a conversation about how to make 2021 better. Mark Moss is the host of a fast-growing and popular YouTube channel covering economics, bitcoin and more. In this conversation, he discusses why gold, bitcoin and sound money have become even more important in the context of central bank printing gone wild. Source link

The founder of mobile crypto bank Abra discusses the massive expansion of global central bank balance sheets. Bill Baryhdt is the CEO of Abra, a mobile crypto banking app. In this discussion with NLW, Bill talks about the year in bitcoin and why the mass expansion of central bank balance sheets was the most important economic story of the year. Source link

The director of research at Fidelity Digital Assets gives her take on the crypto space. Ria Bhutoria is the director of research at Fidelity Digital Assets. In this conversation she gives listeners a look at how one of the most important institutional players in the space has viewed the evolution of bitcoin over the past year. Source link

One of crypto twitter’s best-known personalities discusses DeFi, bitcoin and how 2020 was and wasn’t like 2017. Bully Esquire is a Crypto Twitter personality, lawyer, founder of AlphaMarkets and host of the “Bully Esquire” podcast. In this conversation, he and NLW discuss what was good and bad about the DeFi boom of 2020 and more. Source link

No one would have expected an economic crisis to bring a new generation of investors to the table, but that’s exactly what it did. Jill Carlson is an investor with Slow Ventures and the co-founder of the Open Money Initiative. In this wide-ranging discussion with NLW she discusses how an economic crisis brought in a new generation of investors and why political moderation will be all the rage in 2021. Source link

MassMutual’s $100M BTC investment has the potential to open a massive new investment category, according to analysts. Last week, when MassMutual announced its $100 million buy, NLW explored whether it would be the beginning of a trend for other insurance companies. A recent note from JPMorgan analysts suggests that even a 1% allocation by that category of company in major markets in the U.S., Europe and Japan could represent $600 billion of new demand.  NLW also discusses recent comments from long-term institutional bitcoin and crypto bulls including Chamath Palihapitiya and Abigail Johnson. Source link

As conventional wisdom grows that central banks can go more deeply into debt than previously thought, one economist asks, how much is too much? This week’s edition of Long Reads Sunday is a reading of “How Much Debt Is Too Much?” by Raghuram Rajan on Project Syndicate. In it, the author explores the shifting conventional wisdom on national debt and worries that countries may reach their limit far earlier than they think. Source link

Banks are moving into crypto and crypto companies are trying to become banks, so how does it all play out? On this edition of the weekly recap, NLW looks at the brewing battle to be the bitcoin and crypto bank of the future. He looks at three stories reporting banks getting into crypto (BBVA, Standard Chartered and DBS) as well as crypto companies applying to become banks. Finally, he examines why this is happening right now, and what are the true stakes of the game. This week on The Breakdown: Source link

MassMutual becomes the latest announced institutional buyer of bitcoin, and this one could be even more significant in terms of precedent.  Our main discussion: Why MassMutual bought $100 million in bitcoin and why it matters. In this episode, NLW looks at recent news that MassMutual had purchased $100 million in bitcoin for its general account, as well as made a $5 million minority investment in $2.3 billion asset manager NYDIG, which helped facilitate the bitcoin purchase. He discusses why insurance company purchases are different than other institutional buyers like MicroStrategy, and why this might be the beginning of a more significant […]

The SEC commissioner explains why the SEC’s approach has been “too slow and too ambiguous” and why she’s optimistic for 2021.  Hester Peirce is a commissioner at the Securities Exchange Commission, sworn in for her second term in August.  Sometimes referred to as “Crypto Mom,” Peirce has been a fierce advocate for the industry in a regulatory context that hasn’t always been on her side.  In this conversation, she and NLW discuss: Source link

The Messari CEO goes over the highlights of his just-released annual “Crypto Theses” report. What were the most important trends? Who were the most important people? Was it the year of Bitcoin Macro, the year of DeFi or both?  Ryan Selkis is the founder and CEO of Messari. Each year he puts together a massive “Crypto Theses” report that looks at the year that was and the year to come.  On this episode, he and NLW discuss the highlights of Selkis’ 2020 report, including:  Source link

Michael Saylor announced plans to offer convertible bonds with the express intent to buy BTC. The community reacts. The CEO of MicroStrategy and Giga Chad himself announced MicroStrategy would be offering $400 million in convertible bonds with the intent to purchase more bitcoin.  On this episode, NLW looks at the community’s reaction, including the comparison of MSTR stock to a BTC exchange-traded fund. He also discusses Saylor’s recent comments about censorship resistance as a reminder of the (potentially) divergent values of bitcoin retail HODLers and institutional investors. Source link

More money, more participants, more participating banks and merchants – a look inside the latest DC/EP trial in Suzhou. Our main discussion: Why the newest trial of China’s central bank digital currency is its most important trial yet. In this episode, NLW discusses: Source link

The well-known economic historian connects the dots between bitcoin and CBDCs in the COVID-19 money era. In it, Ferguson argues that bitcoin’s sovereignty and “built-in scarcity in a virtual world characterized by boundless abundance” are driving its adoption.  He also argues that rather than adopt a China-style central bank digital currency, incoming President Joe Biden should look to integrate bitcoin into the U.S. economic system.  Source link

A new crypto outlook from Bloomberg suggests BTC could reach $50,000 in 2021, topping off a month of major institutional momentum for the asset. On this edition of the weekly recap, NLW looks at the consolidating narrative of a bitcoin rally that is: Being driven by institutional investors Shifting the center of the industry from East Asia to North America  Winning converts from major research houses and institutions  Driving the price of bitcoin to new all-time highs This week on The Breakdown: Source link

Since 1969, 34 out of 45 years have seen a late December rally. Here are 5 reasons why a Santa Claus rally might not happen this year. This kind of rally refers to the fact that in about two-thirds of years since 1969, late December has seen a stock market rally, averaging a 1.4% gain.  This year, vaccine optimism combined with new stimulus seems poised to once again jingle Wall Street’s bells. A piece in Bloomberg, however, provides five charts and reasons why this market rally is already overbought and overblown, so this year might be more coal than eggnog. Source link

The STABLE Act would force all stablecoin issuers to have bank licenses, a shot across the bow that portends an emerging legal challenge for the industry. On Wednesday, three U.S. congressional Democrats announced the STABLE Act, an 18-page bill that would require, among other things, stablecoin issuers to acquire banking charters, get approval from the Federal Reserve and hold FDIC insurance.  The bill’s authors claim stablecoins represent a continuation of the shadow banking system that preys on poor communities. The crypto industry argues this overly burdensome would not only stifle innovation but ensure the only players in this new space are […]

One of finance’s most colorful personalities joins NLW to discuss how advisers spend their money, Robinhood traders, bitcoin and more. Josh Brown is the CEO of Ritholtz Wealth Management. He is also the host of “The Halftime Report” on CNBC, author of the “Reformed Broker” blog and host of “The Compound Show” podcast.  In this fun and freewheeling conversation, Josh and NLW discuss: Source link

In a research note intended for clients, investing giant AllianceBernstein says it changed its mind on bitcoin’s role in asset allocation. Yesterday, CoinDesk received access to a private client research report from AllianceBernstein, a global investment giant with more than $631 billion in assets.  In this episode of the Breakdown, NLW reads excerpts from the memo and discusses: Source link

Another look at the bitcoin valuation models that could possibly lead to a six-figure bitcoin valuation over the course of the next year. On this edition of The Breakdown’s Long Reads Sunday, NLW reads a recent piece by Hong Fang, CEO of OKCoin.  In it, Fang provides a set of valuation models and scenarios that plausibly lead to bitcoin achieving a significant $100,000 value over the course of 2021. Source link

NLW looks at price action in crypto, the ETH 2.0 Beacon chain launching Dec 1, the Dow at 30,000 and Janet Yellen’s nomination as Treasury secretary. On this edition of The Breakdown weekly recap, NLW looks at what was an absolutely action-packed holiday week, discussing: Source link

As some start to wonder about a post-Bretton Woods economic system, macro analyst Luke Gromen explains how that post-World War II system came to be. One of the most significant macroeconomic questions facing the world is what the future of the global reserve system, dominated for the last 80 years by the U.S. dollar, holds.  Today’s episode is a replay of NLW’s epic conversation with macro analyst Luke Gromen from April 2020. In it, Luke discusses the entire history of that U.S. dollar system, including: Source link

A reading of one of the most enduring early investor arguments for bitcoin. When NLW asked Crypto Twitter for recommendations of the best way to convince friends and family about bitcoin and crypto, one of the ideas was to review old articles that have stood the test of time.  Even among prescient early pieces, this one is particularly salient. Source link

This year, come prepared to explain the asset that has everyone from famous financiers to political dissidents talking about a money revolution. Today’s Breakdown is a prep kit for the inevitable conversations about bitcoin as friends and family sit down at the Thanksgiving table this year.  NLW discusses arguments ranging from price action to who is buying to why they’re buying to good old-fashioned supply and demand. He leaves with one big conclusion: If there was ever a year to discuss bitcoin, this is it. Source link

One of the sharpest analysts in macroeconomics looks at how monetary and fiscal policy are likely to change in the coming years. Today’s guest is Lyn Alden. Lyn is the founder of Lyn Alden Investment Strategy and one of today’s best-known and most-respected macro analysts. In this conversation, she and NLW discuss: Anti-deflation vs. inflation Why money printing is nonpartisan  Why we’re headed for deeper MMT experiments How she increased her conviction around bitcoin (her journey in memes) Why the beginnings of a new, post-Bretton Woods era are starting to show  Source link

Jay Clayton is stepping down as chairman of the Securities Exchange Commission. Here’s what that means for crypto and traditional markets.  NLW expands upon the piece, discussing Clayton’s legacy in crypto and how a Biden economic team might impact the space. Source link

Recapping a wild week in bitcoin price action that has drawn out numerous previously-quiet HODLers.  On this edition of The Breakdown weekly recap, NLW discusses: Traditional markets: The tension between vaccine optimism and a growing national wave of economy-disrupting lockdowns Regulatory landscape: Crypto ally Brian Brooks nominated for full term at OCC while SEC Chair Jay Clayton steps down early  Bitcoin Miners: Sold out until Spring Celebrities and Financiers coming to the Bitcoin space  This week on The Breakdown: Source link

While we haven’t achieved the elusive $20,000 spot price all-time high yet, these other metrics show where bitcoin has grown far beyond previous peaks. In this piece, NLW goes over those metrics that have achieved all-time highs, and adds one more that happened after Nic published his piece. The metrics include: Source link

President Trump has nominated former Coinbase counsel Brian Brooks to a full five-year term as Comptroller of the Currency, but will he be confirmed in time? Brian Brooks was an executive at Coinbase when he was tapped by Treasury Secretary Steve Mnuchin to be the number two at the Office of the Comptroller of the Currency, the nation’s main bank regulator. Within two months he was acting Comptroller and now Brooks has been nominated for a full term.  In his short tenure, he has given banks the OK to provide custody of crypto and banking services to stablecoin issuers. In so […]

Breaking down a recent Citibank report that has Bitcoin Twitter salivating and skeptical at the same time. That’s the prediction of one Citibank exec in a report called “Bitcoin: 21st Century Gold” sent last week to institutional clients. In this episode, NLW breaks down the report, including the macro justification that sets the stage as well as the technical analysis that led to these numbers. Ultimately, he argues that what matters isn’t the report’s predictions, but the fact that its very existence suggests a shifting narrative for institutional buyers. Source link

A reading of Kenneth Rogoff’s latest piece on the strange reality of the dollar’s global status.  On this week’s edition of Long Reads Sunday, NLW reads former IMF chief and current Harvard economist Kenneth Rogoff’s latest Op-Ed, “The Calm Before the Exchange Rate Storm” in Project Syndicate. Source link

In an otherwise extremely bullish week, famed investor Ray Dalio reiterated his skepticism of bitcoin and digital assets. On this edition of the weekly recap, NLW looks at bitcoin’s surge past $16,000. Additionally, he explores some recent FUD from Ray Dalio, which NLW argues seems strangely locked in years-old narratives.  Source link

Crypto Twitter reacts to the announcement and answers the question: Just how big a deal is PayPal?  PayPal is rolling out crypto to all its users and increasing transaction limits from $10,000 to $20,000. In this episode, NLW breaks down the community response to the news, including an interesting discussion of whether the company’s BitLicense requires PayPal to hold 1:1 all the BTC its customers pay for. Source link

One of the (quietly) largest players in the institutional bitcoin space discusses the changing investor landscape in his first-ever podcast interview. Robby Gutmann is the co-founder of Stone Ridge Holdings Group, a $10 billion alternative asset manager and co-founder and CEO of NYDIG, the group’s bitcoin subsidiary. In this first-ever podcast conversation, Gutmann discusses:  Source link

When the Nigerian government shut down EndSARS protestors’ bank accounts, bitcoin and crypto became a way around. Yele Bademosi is CEO at Bundle social payments app and the founder of investment firm Microtraction. Akin Sawyerr is involved across the industry and leads operations at BarnBridge.  Over the course of October 2020, the world’s attention became firmly fixed on a growing movement in Nigeria. With the hashtag #EndSARS, the movement was, on the one hand, about addressing police brutality. On the other hand, as our guests discuss, it was a broader awakening and a demand for generational economic opportunity. At one point, […]

The billionaire investor made his pro-bitcoin comments on an appearance on CNBC. A few months ago, Stan Druckenmiller told CNBC that he could imagine inflation of 5%–10%. Yesterday, he returned to the network to discuss why bitcoin had captured his attention as a potential hedge. Source link

According to the bright minds of FinTwit, the biggest event isn’t the U.S. presidential election but today’s Pfizer vaccine update. Our main discussion: The stock market soars on promising Pfizer COVID-19 vaccine trials.  The S&P 500 and DJIA hit new all-time highs after Pfizer announced its experimental vaccine had prevented COVID-19 in 90% of patients. Travel stocks soared, work from home stocks suffered and safe havens fell. In this episode, NLW explores the shifting market sentiment, as well as what it means for bitcoin. Source link

While MMT may be the de facto policy of rich Western governments, applying it to developing economies could be disastrous. The argument is that while Western governments debate just how far we can take the idea of money printing without paying a dubious price, for emerging-market governments there simply isn’t the same capacity to print their way out of problems. Source link

Hany Rashwan, CEO of Amun/21Shares, explains how the proverbial bitcoin lightbulb went off when his native Egypt’s currency devalued in 2016. Hany Rashwan is the CEO of Amun/21Shares, the creator of a variety of publicly traded crypto products with over $100 million assets under management.  In this conversation, he and NLW discuss: Source link

In a year when the popular narrative says money printing went crazy, the host of “Making Sense/Eurodollar University” says the problem is actually too little money. Emil Kalinowski is the host of “Making Sense/Eurodollar University” collaborations with Jeff Snider.  In this illuminating conversation, Emil and NLW discuss: Source link

Bitcoin Twitter interprets today’s massive price action. As the U.S. election picture starts to become more clear, bitcoin has smashed through $15,000 – its highest price since 2017’s record-breaking run. Alongside the price action has come a wave of mainstream media coverage.  In this special he-was-supposed-to-be-on-vacation episode, NLW breaks down Twitter’s response and shares interpretations, including: Source link

One of the hosts of NPR’s legendary “Planet Money” takes us on a whirlwind tour of some of the key moments of money history in the last 1,000 years. In this conversation, Jacob and NLW discuss: How China invented paper money and then forgot about it for centuries Why the invention of the lightbulb was a pivotal money history moment  How money market funds set the stage for the Great Financial Crisis  Where bitcoin fits in the world that comes next: without cash, without banks and with government printing Source link

In a chaotic year of dueling recriminations and very different visions of the future, the real question of this U.S. presidential election is: Who is better for bitcoin? Our main discussion: Which U.S. election outcome is better for bitcoin?  After a surprisingly close Twitter poll with more than 1,600 respondents answering the question “Is Trump or Biden better for bitcoin?”, NLW breaks down the most common themes, including: Source link

A Long Reads Sunday reading of Grayscale’s recent “Bitcoin Investor Survey.” On this week’s Long Reads Sunday, NLW diverts from our normal opinion and long-form essay to pursue Grayscale’s recent investor reports. In its survey of investors, Grayscale found more interest in bitcoin investing than ever before, with a significant amount of the growth in interest being driven by economic and monetary policy following the coronavirus pandemic.  Source link

The Breakdown weekly recap looks at bitcoin buying by Iran, JPM Coin and the latest round of lockdowns coming to Europe. On this week’s weekly recap, NLW looks at: Bitcoin’s resilience in the face of a week where many investors went risk off, causing a drop in stocks and gold JPMorgan’s dramatic three-year attitude shift around bitcoin and crypto  Iran stockpiling bitcoin to be able to pay for imports A new round of COVID-19 lockdowns and the stimulus that will follow This week on The Breakdown: Source link

Was it an allusion to the Reformation or something to do with the ancient pagan tradition of Samhain? One of the most powerful aspects of bitcoin is its mythology.  In this episode, NLW explores the 12th anniversary of the Bitcoin white paper and the choices that went into its release date.  Whether it was something to do with the Reformation or an allusion to the longstanding pagan tradition of Samhain, the one thing that’s clear is the choice adds all the more mystique to bitcoin’s incredible origins. Source link

The Department of Commerce’s new report shows 33.1% annualized GDP growth in Q3, but does this really tell us much about the state of the economy? The Department of Commerce released its Q3 GDP numbers. Touted as record growth, this is actually a much more complicated story. In this episode, NLW breaks down what the numbers tell us and what they don’t, and why we should be more focused on understanding long-term consumer behavior shifts than short-term numbers.  Source link

Stocks, oil, even gold are down on fears of resumed COVID-19 lockdowns, but bitcoin hodlers are keeping the faith. Source link

The investment banking giant says the blockchain hype cycle has moved past inflated expectations and into the realm of being commercially viable. Source link

As cases rise and the U.S. settles in for a fresh wave of COVID-19, the economic fallout from round one is still being felt, from hedge funds to bankruptcies and beyond.  Our main conversation is about the rise of a new wave of COVID-19 and the economic fallout we’re still trying to address. NLW discusses why we’re starting this next wave more emotionally drained, politically divided and economically fragile than we were in March. Source link

A reading of two recent op-eds on central bank digital currencies (CBDCs). Source link

A recap of an exceptionally bullish week for bitcoin and crypto as a whole.  On this week’s Breakdown weekly recap, NLW looks at: The initial price action that started the week Debates about whether BTC was thriving at the expense of alts and DeFi The PayPal news News of more public companies putting treasury reserves into BTC Paul Tudor Jones’ optimistic take on the human ingenuity driving bitcoin’s success This week on The Breakdown: Source link

From Brazil to Argentina to Turkey, bitcoin priced in local currencies is reaching all time highs. But is this a story of bitcoin succeeding, fiat failing or both? Our main discussion: fiat failures, 2020 edition. In this episode, NLW looks at a raft of geographies in which bitcoin has recently reached all-time highs, priced in the local currency. The story, he says, is about fiats floundering more than mispriced local bitcoin. Special focus on economic happenings in Brazil, Argentina and Turkey. Source link

The author of “Goliath” gives his take on the history of American antitrust politics and what it means for the just-announced Google case. Matt Stoller works with the American Economic Liberties Project and is the author of “Goliath: The 100-Year War Between Monopoly Power and Democracy” as well as the popular Substack newsletter “BIG.” In this conversation, he and NLW discuss the history of American antitrust sentiment and politics including: Source link

Who has the most recent bitcoin move right, the bulls or the bears?  Our main discussion: bulls vs. bears as bitcoin passes $12K Someone recently tweeted, “Bitcoin price has never been this high with such bearish sentiment.”  On this episode, NLW looks at the bullish case (growth in open interest on CME backed by strong macro narrative around stimulus) and bearish case ($12K BTC sell wall and bleeding from alts and DeFi). Source link