#1185 Will Clemente On Bitcoin: Start Of The Next Bull Run?
The Pomp Podcast
Anthony Pompliano
4.8 • 1.9K Ratings
🗓️ 10 April 2023
⏱️ 19 minutes
🧾️ Download transcript
Summary
Will Clemente is the co-founder of Reflexivity Research. In this conversation, Anthony Pompliano and Will Clemente discuss a new report that explains bitcoin's performance in Q1 and how this sets up the asset for the rest of the year. Report includes core network activity, wallet addresses, ordinals, miners, and the lightning network.
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Pomp writes a daily letter to over 200,000+ investors about business, technology, and finance. He breaks down complex topics into easy-to-understand language while sharing opinions on various aspects of each industry. You can subscribe at https://pomp.substack.com/
Transcript
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| 0:00.0 | All right, guys, bang, bang. I've got Will here with me. Will Reflexivity Research just published a brand new Q1 report on the Bitcoin network. |
| 0:08.0 | Bitcoin obviously isn't a company, doesn't produce a normal quarterly report like a public company would. |
| 0:13.0 | And so there's been a couple of people in the past who have done this, but you guys just put together this report and released it to summarize what's been going on in Bitcoin, had a monster Q1. Let's start with the core network activity itself in terms of transactions |
| 0:25.1 | and transaction volumes. What are you guys seeing there? Ready to launch your business? Get started |
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| 0:57.3 | Yeah, Bitcoin passed a major milestone this quarter. If you look at the cumulative value of all |
| 1:02.9 | the transactions, the number of transactions that have taken place on the network, |
| 1:06.0 | Bitcoin's now settled over 800 million transactions worth the cumulative value of over $107 trillion, |
| 1:12.4 | which is an incredible feat for a fully decentralized protocol that's only been in existence |
| 1:16.4 | for just over 13 years. |
| 1:18.1 | When you think about active addresses, right? |
| 1:20.4 | So you just talked about transactions. |
| 1:21.7 | You talked about the value of those transactions. |
| 1:23.4 | But is this just like one person doing 800 million transactions or is the number of active addresses continuing to grow? |
| 1:29.9 | No, yeah, absolutely. When we look at the active addresses, which is looking at sending and receiving |
| 1:33.9 | transactions on both sides, we can look at essentially on like a high time frame view through a 30-day moving average and look at what's the kind of multi-year usage of the network. And what we see is that |
| 1:46.1 | over the last 10 years, the number of active addresses continue to make higher lows. And so, |
| 1:51.4 | of course, in a bull market, you have a ton of new kind of tourists and new network users that |
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