Bits + Bips: Does Macroeconomics Point to a Potential Crypto Supercycle? - Ep. 642

Unchained

Laura Shin

News, Tech News, Business News

4.5 • 1.3K Ratings

🗓️ 8 May 2024

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this first episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann explain why the macroeconomics could point to the markets actually being in a crypto supercycle. They discuss the recent Federal Reserve meeting and its impact on the markets, as well as the irony that leveraged Ethereum futures ETFs will likely be approved while spot Ethereum ETFs will likely not. James also reveals his pet theory on where the SEC is going with its investigation into ETH. They cover why the bottoming of emerging market currencies in Asia is good for Bitcoin, dismiss the recent Wells notice issued to Robinhood, and speculate that Tether may be the most profitable company per employee in the world. Agreeing that the current market cycle is different, Seyffart and McCann suggest that there is still a long way to go, and assert that the market may be underweighting the possibility that crypto goes to a $10 trillion market cap in the next few years. Show highlights: The Fed's recent decisions and how they lower the chances of more rate hikes The importance of global liquidity in the performance of risk assets like Bitcoin and crypto assets Why a bottoming in the value of the yen, yuan and other emerging markets currencies is good for Bitcoin and crypto, according to Joe The irony that leveraged Ethereum futures ETFs are likely to be approved but spot ETFs are not James’s pet theory about how the SEC will rule on whether ETH is a security Whether trading in Hong Kong's crypto ETFs shows how little interest there would be in an ETH ETF compared to spot BTC ETFs Grayscale’s Bitcoin Mini Trust ETF Whether people are underweight on a “crazy bonkers rise” in crypto Why Robinhood's Wells Notice is a "minor story," according to Alex Whether Tether is the most profitable business per employee in the world Why James believes that it's not a good idea for the US Congress to be against stablecoins CZ's sentence and whether it's a "good ending for the story" Hosts: James Seyffart, Research Analyst at Bloomberg Intelligence Alex Kruger, Founder of Asgard Joe McCann, Founder, CEO, and CIO of Asymmetric Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi all I'm excited to launch our new crypto and macro podcast, Bit and Bips today.
0:05.0	It's in the fun conversational style that I know many of you enjoy and we have a great set of hosts with different backgrounds across both
0:11.4	crypto and TradFi. It'll come out every other week on
0:14.3	Wednesdays to give the scoop on the latest news and how crypto and macro are coming together.
0:18.4	Let us know what you think of the show.
0:21.5	Alex, what do you think? Where do you think we are in the cycle right now?
0:24.6	You know, like we had a ripper of a Q1, we had a pretty big draw in April, May seems to be some recovery, like, where's your head at as it relates to this cycle right now?
0:37.4	I think it's a different kind of cycle, to be honest.
0:40.0	I'm on the super cycle boat, so with people like to hate about that but it just makes
0:45.6	sense like on one hand the thing is on the macro side of things on on macroeconomics
0:52.4	it the economy the side of things on macroeconomics. The economy, the global economy is what you could call early
0:57.3	stage. This could be something like the 90s and we're like 1997. Hi everyone, welcome to bits and bips, exploring how crypto and macro collide one basis point at a time.
1:10.0	I'm your host James Safert, TradFi Archimaster, Lord of Lumberi's end,
1:14.3	here with Alex Krueger, Guger Macro of House Asgard, protector of the realm, and Joe McCann,
1:19.9	Lord Commander of Asymmetric and Master of Bonk.
1:23.0	We're here discussed the latest stories in the worlds of crypto and macro news.
1:26.7	Just remember that nothing we say here is investment advice.
1:29.0	Check on Chaincripto.com for more disclosures.
1:32.2	Let's get into it.
1:33.0	Alex and Joe, you guys are both portfolio managers, traders.
1:37.0	This last week we had a Fed meeting, we had some other economic reports, non-farm payrolls.
1:42.0	What were your takeaways? I guess we'll start with you. some other economic reports, non-farm payrolls.
	...

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