Bonds, Inflation and the GBTC Premium with Lyn Alden - WBD328
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 31 March 2021
⏱️ 66 minutes
🧾️ Download transcript
Summary
Location: Remotely Date: Friday 26th, March Company: lynalden.com Role: Macroeconomist
This month we have seen the markets signal an expected increase in inflation; while bond prices are a good indicator, Lyn Alden explains that just looking at bonds or the Consumer Price Index (CPI) does not tell the whole story. Price changes can vary wildly in services, commodities, and especially asset prices, but inflation affects different people in different ways.
Outside of inflation, Bitcoiners have been looking closely at the Grayscale Trust (GBTC) recently and specifically the premium. I asked Lyn why people would pay less (or more) than the market price of Bitcoin for shares of GBTC.
There are several reasons that GBTC is down recently, one of which is the potential approval of a Bitcoin ETF. Canada recently approved a Bitcoin ETF, with significant demand.
An ETF in the United States is still being held up by regulators, despite increasing applications from institutions like Fidelity. But the rumour is one is right around the corner, and it would likely have significantly more demand than Canada's.
In this interview, I talk to Lyn Alden, a macroeconomist and Lyn Alden Investment Strategy founder. We discuss bond yields, the effects of the rising inflation rate, the GBTC premium, and potential Bitcoin ETFs.
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Transcript
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| 0:00.0 | If there's a Bitcoin EDF that then trades on a major exchange, more people can |
| 0:07.0 | essentially access it than they would if they're not willing to buy over-the-counter products. |
| 0:11.7 | And so it should increase overall demand. |
| 0:14.7 | Hello there from Bedford in the United Kingdom, the Bitcoin capital of the world. |
| 0:21.2 | How are you all? |
| 0:22.2 | How's your week going so far did you go and listen to |
| 0:25.2 | my show with willy earlier this week that's an absolute banger make sure you do go |
| 0:29.7 | and check it out the Bitcoin price is bouncing around as I was about to record this it looked like we're about it's about |
| 0:34.0 | about to record this it looked like we're about to break through 60,000 |
| 0:37.0 | and then it's just dumped 3,000 |
| 0:39.0 | Bitcoin doing what Bitcoin does. |
| 0:41.0 | Anyway, welcome to the What Bitcoin did podcast, |
| 0:44.3 | which is brought to you by the mighty Cracken, |
| 0:46.1 | the best place to buy, sell and trade Bitcoin. |
| 0:48.2 | I'm your host, Peter McCormack, |
| 0:49.7 | and today I have Lynn Alden back for our monthly macro review, but before that I do have a message from my amazing show sponsors. |
| 0:58.0 | And first up today we have Cracken and after sponsoring the show for more than two years, this is Krakhan's last show, so let's send them off with a massive bang. |
| 1:08.0 | Jesse and Krakhan have been instrumental in supporting the growth of what Bitcoin did, and I will always be grateful to them and their team. |
| 1:15.0 | Whenever I've travelled, traveling around the world, recording interviews, |
| 1:19.0 | the cracking team has always come out for a drink and to make me feel welcome in the cities I've been in. Big love, big thanks. |
| 1:25.4 | And for the last few years I have been using Krakhan for buying and selling Bitcoin, |
| 1:29.6 | specifically at Krakan.com or via their mobile app. |
... |
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