BREAKDOWN: Bitcoin Is Economic Empowerment
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 June 2021
⏱️ 17 minutes
🧾️ Download transcript
Summary
Driven by El Salvador, a new narrative for global bitcoin adoption is emerging.
This episode is sponsored by Nexo.io.
On this edition of “The Breakdown’s Weekly Recap,” NLW looks at:
- Why the El Salvador news didn’t (immediately) impact bitcoin’s price
- How narratives set the tone for new entrants to the bitcoin market
- How the digital gold/inflation narrative relates to the economic empowerment narrative
- The bitcoin game theory for small nations to invest in bitcoin
- How this could impact ESG critiques
-
Nexo.io lets you borrow against your crypto at 6.9% APR, earn up to 12% on your idle assets, and exchange instantly between 100+ market pairs with the tap of a button. Get started at nexo.io.
-
Image credit: bakgwei1/Flickr, modified by CoinDesk
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:16.0 | The breakdown is sponsored by nexo.io and produced and distributed by CoinDes. |
| 0:23.7 | What's going on, guys? |
| 0:30.0 | It is Saturday, June 12th, and that means it's time for the weekly recap. This week I want to talk about the idea of Bitcoin as economic empowerment and what I see as a new narrative emerging |
| 0:36.7 | that could bring in the next set of Bitcoin users. |
| 0:40.5 | But to set the stage for that, I actually want to go back to Tuesday night. |
| 0:44.9 | The El Salvador Bitcoin bill had been released in full, and the assembly was about to debate it. |
| 0:50.2 | I was inspired to do a thread on Twitter answering a question that I had seen a number of different |
| 0:55.3 | people ask, all of which amounted to, how could this possibly not cause the price to go up? |
| 1:01.7 | I have a theory about this, that individual events don't actually impact Bitcoin's price, |
| 1:06.7 | really. And a lot of the issues that I get into, I think, are salient for this conversation today. |
| 1:11.9 | So I'm going to read in some places paraphrase that thread. |
| 1:16.1 | On this momentous night in Bitcoin history, I've seen a number of people ask, |
| 1:20.0 | how could this possibly not cause the price to go up? My theory, individual events don't impact |
| 1:25.6 | Bitcoin's price, at least not really and not alone. |
| 1:29.1 | Bitcoin markets are driven by big structural narratives that create the raise on debt for new |
| 1:33.7 | entrants to participate. Obviously, we've been in one of those big structural narratives since |
| 1:38.8 | March 2020. This is the money printer go burr, means inevitable inflation, means institutions get in here. |
| 1:45.9 | Within the context of those meta-narratives, individual events that validate and amplify the narrative |
| 1:52.5 | can impact price, both by drawing new people in on the strength of the evidence for the narrative, |
| 1:57.6 | as well as by arming bulls and traders who are inclined to go long. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from CoinDesk, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of CoinDesk and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.