BREAKDOWN: What's More Important – BlackRock Trading Crypto or 7.5% Inflation?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 10 February 2022
⏱️ 16 minutes
🧾️ Download transcript
Summary
Crypto is being driven in different directions by different market forces.
This episode is sponsored by Nexo, Arculus, FTX US and MELD.com.
Today Twitter was alight with discussion of the biggest inflation print since 1982. With 7.5% inflation, a hike of 50 basis points is looking more and more likely in March. This should be bad news for risk assets. On the other hand, bitcoin and crypto are being buoyed by other macro forces. Notably, news broke yesterday that the world’s largest asset manager, BlackRock, is likely to begin allowing clients to trade crypto. As many have pointed out – it’s hard to be bearish when that type of adoption is happening. So which of these forces have a stronger impact on bitcoin and crypto?
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Vision” by OBOY. Image credit: Spencer Platt/Getty Images News, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:49.4 | But I still think the impact here is a bit more muted than that January QT surprise. |
| 0:56.9 | Indeed, if you listen to all the smart observers, what they're focused on is not the potential |
| 1:01.5 | of problems from rate hikes, but what happens when you remove liquidity from markets? |
| 1:07.4 | That's, I think, what people are going to be looking out for next. |
| 1:12.2 | Welcome back to The Breakdown with me, NLW. |
| 1:16.3 | It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world. |
| 1:22.2 | The breakdown is sponsored by nexo.io, Arculus, and FTX, and produced and distributed by CoinDesk. |
| 1:29.9 | What's going on, guys? It is Thursday, February 10th, and today we are talking about the weird |
| 1:35.7 | back-and-forth tension between macro being good and macro being bad for crypto and what it all means. |
| 1:43.3 | But before we do that, if you're enjoying |
| 1:46.3 | the breakdown, please go subscribe to it, give it five stars, leave a nice review, or if you want to |
| 1:51.5 | get deeper into the conversation, join the Discord. You can find the Breakers Discord at the link in |
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