BREAKDOWN: The Mainstream Media Narrative Shifts as Deutsche Bank and Morgan Stanley Come to Bitcoin
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 February 2021
⏱️ 12 minutes
🧾️ Download transcript
Summary
As another wave of major financial institutions announce bitcoin plans, it’s getting harder for the MSM to simply print the same old FUD.
This episode is sponsored by Nexo.io.
Today on the Brief:
- A follow-up on celebrity in crypto
- Dapper Labs and BlockFi raising at multibillion dollar valuations
- Cathie Wood and ARK increase their bitcoin position
Our main discussion looks at the latest institutional bitcoin news:
- Deutsche Bank – the world’s 21st largest – quietly revealed a digital asset custody program with much bigger ambitions in a December 2020 World Economic Forum report
- Bloomberg is reporting that Morgan Stanley’s $150B investment unit is considering a direct bitcoin position
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Transcript
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| 0:00.0 | CNN posted a story on Saturday titled Everything You Need to Know About Bitcoin and tweeted it out |
| 0:05.7 | saying, if you've been ignoring Bitcoin thinking it might just be a financial fad, now's the |
| 0:10.6 | time to start paying attention. On Sunday, the banner headline on Bloomberg was, Bitcoin's |
| 0:16.3 | epic run is winning more attention from Wall Street. Bitcoin nears $50,000 as it hits a record in weekend |
| 0:22.9 | action. We're so used to the stories of Bitcoin Fudd and why it's boiling the oceans and everything |
| 0:29.2 | else that to see that start to focus on this momentum that we all feel, the tectonic plates of |
| 0:35.2 | finance shifting under our feet is a remarkable thing. |
| 0:39.6 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big |
| 0:46.9 | picture power shifts remaking our world. The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk. |
| 0:57.3 | What's going on, guys? It is Monday, February 15th, and today we are talking about even more |
| 1:04.4 | institutional involvement in Bitcoin. First up, however, let's do the brief. First up on the brief today, a quick follow-up from a |
| 1:13.1 | show last week. On Friday, I discussed Jay-Z and Jack Dorsey's Bitcoin Trust. The point that I was |
| 1:21.1 | making, or at least one of the points that I was making about celebrity involvement during |
| 1:25.4 | this Bitcoin cycle, was that it was coming in one of two forms, |
| 1:29.5 | either a creative thing that made sense, i.e. non-fungible tokens for musicians and artists |
| 1:35.6 | who are trying out a new medium, or two, it was around Bitcoin. I said this was powerful |
| 1:42.0 | and showed how much things had evolved since the days of everyone's |
| 1:46.0 | named coin in 2017, 2018. I also jokingly ended on enjoy it while it lasts, and that day, |
| 1:53.8 | literally that day, all of a sudden a slew of random B, C, and D-List celebrities started popping up, tagging TRX and Justin's son. |
| 2:04.2 | It was like Neo, Jake Paul, Lindsay Lohan, I mean, really the absolute cream of the crop. |
| 2:09.7 | So there it is. We are officially at the point where everything I said is no longer relevant. |
| 2:15.5 | In all actuality, I still think that this even more means that we should |
... |
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