BTC028: Bitcoin Update w/ Plan B & Dr. Adam Back (Bitcoin Podcast)
The Investor's Podcast (We Study Billionaires) - The Investor’s Podcast Network
Stig Brodersen
4.6 • 3.6K Ratings
🗓️ 2 June 2021
⏱️ 94 minutes
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| 0:00.0 | You're listening to TI P. |
| 0:02.5 | Hey everyone, welcome to our Wednesday release of the podcast where I'm talking about Bitcoin. |
| 0:06.8 | On today's show we bring back by popular demand, Dr. Adam Beck, who's the CEO and founder of Blockstream. |
| 0:13.1 | And we also have Plan B, who's the creator of the Stock the Flow model. |
| 0:16.9 | On the show we talk about the broader macro implications of Bitcoin reaching a market cap and excess of a trillion dollars, |
| 0:23.7 | but still having market corrections of $500 billion. |
| 0:27.9 | We talk about Chinese mining news, we talk about energy concerns and highlights, |
| 0:32.9 | additionally we talk about the derivatives market and how it had an impact on the recent sell-off. |
| 0:37.9 | So if you're looking for a good update from two of the smartest guys in the space, hang on tight because here we go. |
| 0:46.4 | You're listening to Bitcoin Fundamentals by the Investors Podcast Network. |
| 0:51.9 | Now for your host, Preston Pish. |
| 1:04.9 | Hey everyone, welcome to the show. Like we said in the introduction, I'm here with Adam Beck and Plan B. |
| 1:09.9 | Gentlemen, welcome to the show. |
| 1:11.9 | Thank you. |
| 1:12.9 | Thank you. |
| 1:13.9 | All right, so where I want to start this off, I've done a lot of thinking as this price has just gotten punished over the last two months, month and a half or whatever it is. |
| 1:26.9 | And one of the things at the top of the list is just systematic risk. |
| 1:31.9 | A few months back we saw Wall Street bets, dude the whole GME thing and it had just a small kind of pittance of a market cap. |
| 1:41.9 | But the implications of that were massive. So you had Melvin Capital, the Citadel had to come up with $2 billion. |
| 1:48.9 | You had.72 asset management. All of them were just, you know, it created a mess in the financial markets. |
| 1:56.9 | You saw the broader market selling off through some of this and you know, it was only a $6 billion loss all around but the implications of what you saw that this created in the overall market was kind of crazy. |
| 2:09.9 | So when I think about Bitcoin having a market cap, it was well over a trillion dollars and it has a 50% drop in price. |
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