Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexor.io and BitStamp and produced and distributed by CoinDess.

What's going on, guys? It is Sunday, May 17th, and that means it's time for Long Reads Sunday.

There has been a huge amount of talk of ESG as it relates to Bitcoin this week.

Specifically, obviously, in the case of Tesla, reversing

policy and no longer accepting Bitcoin payments for cars because of environmental concerns.

However, I think that sometimes when we talk about ESG, we forget about the S and the G.

And if we want a complete picture of how Bitcoin fits within this

ESG mindset, we can't only discuss the energy and environmental side. So today I'm reading

Alex Gladstein's latest piece called Check Your Financial Privilege. While those comfortable in the

dollar bubble deride Bitcoin, the stories of three emerging market

users demonstrate why it is so important. If you like this essay, go back and check out my episode

called Bitcoin Investing is ESG Investing. But for now, let's get to reading. In the eyes of most

Western elites, investors, journalists, and academics, Bitcoin rates anywhere

from an annoyance to a disaster. Just a few days ago, American billionaire Charlie Munger described

Bitcoin as disgusting and contrary to the interests of civilization. Warren Buffett, once the

world's richest person, sat next to Munger in obvious agreement. He has said Bitcoin is a delusion

and rat poison squared,

and is warned that he is sorry about its rise because people get their hopes up that something

like this is going to change their lives. Bill Gates, who also used to be the world's richest

person, has said Bitcoin is a greater fool-theory investment, and that he would short it if he could.

...