BREAKDOWN: HODL FOMO vs. Speculative FOMO – Why This Bitcoin Bull Market Will Be Different
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 November 2020
⏱️ 17 minutes
🧾️ Download transcript
Summary
As bitcoin crosses $17,000 it’s not retail speculation but a new, long-term investor mindset driving the price up.
This episode is sponsored by Crypto.com and Nexo.io.
Today on the Brief:
- Tesla to join S&P 500
- Airbnb files for IPO
- The Mooch wants crypto
Our main discussion: HODL FOMO vs. Speculative FOMO.
The 2017-2018 bull run was driven by ICO mania and a relentless get-richism that was nothing if not short-term. As bitcoin passes $17,000 and questions of looming all-time highs start to make their way into mainstream press, it is a very new set of actors and a new set of thinking that is driving this movement.
The Twitter thread that inspired today's podcast:
twitter.com/CitizenBitcoin/status/1327276810363670529
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Transcript
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| 0:00.0 | The real juice on this was the COVID-19 response from central banks, especially in that it |
| 0:06.1 | coincided with the having. |
| 0:08.3 | The narrative of a fixed supply in the context of an unlimited supply world finally clicked, |
| 0:15.5 | and in so doing it has driven an entirely new wave of evangelists. |
| 0:24.6 | Welcome back to The Breakdown with me, NLW. |
| 0:30.4 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:37.2 | The breakdown is sponsored by crypto.com and nexo.io and produced and distributed by coin desk. |
| 0:47.4 | What's going on, guys? It is Tuesday, November 17th, and my goodness, happy 17,000. Today we are going to be talking about why this bull run will be different and specifically we're going |
| 0:53.0 | to be exploring the idea of hoddle |
| 0:55.1 | fomo versus speculative fomo. First up, however, let's do the brief. First up on the brief today, |
| 1:02.3 | Tesla is finally joining the S&P 500. Last month, I was joined on this show by Kathy Wood, |
| 1:09.8 | who is currently managing three of this |
| 1:12.2 | year's 10 most successful ETFs with her ARC innovation funds. |
| 1:17.1 | One of the things she's most known for is her early and persistent bet on Tesla. |
| 1:23.2 | She stuck with this stock through so many news cycles, and one of the things she mentioned was |
| 1:28.7 | just how crazy it was that Tesla wasn't in one of the major indices, given how important |
| 1:35.1 | a stock it had become. Well, that is finally changing. Starting on December 21st, Tesla will be |
| 1:41.6 | in the S&P 500 index. Now, inclusion in that index requires four consecutive |
| 1:47.7 | quarters of profit, and Tesla has had five for the first time in its history. As you might |
| 1:53.1 | imagine, the market obviously likes this. Tesla shares soared 13% on the news, and you've got to say |
| 1:59.4 | it's pretty rough for the bears who will finally have to |
| 2:01.9 | own some via index exposure, even as they're potentially shorting the underlying. |
... |
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