BREAKDOWN: The CIO of $230B AUM Guggenheim Just Called for $400,000 BTC
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 17 December 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
A recap of 5+ insanely bullish stories that got buried in the bitcoin price action.
This episode is sponsored by Crypto.com and Nexo.io.
With so much focus on bitcoin’s record-setting price run, a number of huge (and hugely bullish) stories have gotten comparatively short shrift. In this episode, NLW looks at:
- Ruffer LLP’s $744 million bitcoin buy
- Hedge Funder Alan Howard and One River’s $1 billion digital assets bet
- Northern Trust getting into crypto custody
- Guggenheim Partners’ CIO calling for $400,000 BTC
- CoinDesk sister company Grayscale as the fastest-growing asset manager in history?
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Transcript
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| 0:00.0 | Alan Howard is an extremely well-known hedge funder. He's the founder of Brevin Howard Asset Management. |
| 0:05.3 | Howard has quietly teamed up with Eric Peters, the CEO of One River Asset Management, to buy |
| 0:10.5 | $600 million in crypto over the last few months unbeknownced to anyone. On top of that, |
| 0:16.5 | One River Digital Asset Management has commitments that will bring its holdings of Bitcoin and |
| 0:21.6 | ether to $1 billion early next year. |
| 0:24.8 | Peters, the CEO of One River, said, this is the most interesting macro trade I've seen in my |
| 0:31.1 | career. |
| 0:33.1 | Welcome back to The Breakdown with me, NLW. |
| 0:37.3 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:42.9 | The breakdown is sponsored by crypto.com and nexo.io and produced and distributed by CoinDes. |
| 0:50.9 | What's going on, guys? It is Thursday, December 17th, and my goodness. Yesterday before Bitcoin started |
| 0:59.1 | absolutely ripping, I had a whole show prepared on how Pornhub had gone crypto only, what it meant, etc. |
| 1:07.8 | There is a lot there that I think is genuinely important. I think this story exemplifies |
| 1:13.5 | the complicated role vis-a-vis freedom and power and questions of corporate power that are |
| 1:20.2 | going to be so important to how the crypto industry develops. Then yesterday happened, |
| 1:25.7 | and my goodness, first of all, the price continues to rip. |
| 1:29.8 | We got as high as 23,700 this morning before pulling back slightly to 23,200 when I'm recording. |
| 1:37.0 | My dollar cost averaging is going to buy less than ever today, and I love it. The point is that |
| 1:42.5 | there are so many bullish stories even on top of just |
| 1:46.4 | the price news that I had to do one more day of just pure, shocked insanity. So with that in |
| 1:52.7 | mind, let's dive in. First, let's give some more details about the deal that I mentioned yesterday |
| 1:59.0 | with Ruffer. At the beginning of the week, news broke that a |
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