Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io, Casper, and NEM, and produced and distributed by CoinDes.

What's going on, guys? It is Thursday, March 18th, and today we are talking about why a

Norwegian billionaire is betting on Bitcoin's positive environmental potential. First up,

however, let's do the brief. First on the brief today, a quick follow-up on the FOMC meeting from yesterday and the Powell

Press Conference.

Here's how Lynn Alden summed it up.

She tweeted, Powell reaffirmed today that they're not going to front-run inflation, not going

to consider a taper of QE or a rate hike until their inflation measures spend some time

above 2%. He pushed back a bit

on the market beginning to price in some rate hikes. Lin also summed up the market's immediate

reaction as dollar down, gold up, stocks up, Bitcoin up. But what about a day later? The Wall Street

Journal's banner headline is Treasury Yields surge again.

And specifically, they're talking about the 10-year Treasury yield moving from 1.641% yesterday to

1.731% today. Effectively, the market still doesn't believe the Fed, or doesn't have conviction

that the Fed is going to be able to keep this accommodative

monetary policy the way it is for much longer. A quote from that piece, despite the signals that

the Fed is sending, many investors think that the central bank will have to start raising interest rates as

soon as 2023 to combat an anticipated increase in inflation. The Fed's promise to support the economy

now could even lead to faster

rate increases later because it could help generate the type of inflation that has been largely

...