BTC121: Bank Failures & Bitcoin w/ Steven McClurg (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 15 March 2023

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Preston Pysh sits down with Steven McClurg, who’s the CIO at Valkyrie, and just an all-around brilliant macro thinker, to talk about the multiple bank failures, what it meant for the broader economy, Bitcoin, and more.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

03:03 - What are the three things the FED is currently considering?

26:15 - Why Silvergate, Signature, and Silicon Valley Bank are different than many other banks?

31:29 - What rules from the Global Financial Crisis are currently impacting regional banks?

52:26 - Is there a concerted effort by Wall Street and the government to remove onramps to Bitcoin exchanges?

54:36 - Steven's thoughts on Custodia's bank application with the FED being denied.

57:00 - What's going to happen with the GBTC suit with the SEC with respect to the ETF application?

01:05:29 - What impact has paper bitcoin had on the market to date and Steven's expectation into the future?

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Steven McClurg's Twitter.
Steven McClurg's Company Valkyrie.
Peter McCormack's interview with the GBTC CEO.
Related episode: Listen to BTC112: Bitcoin Macro Mastermind 1st Q 2023 w/ Joe Carlasare, Steven McClurg, & Jeff Ross, or watch the video.
Related episode: Listen to BTC088: FED Policy, Bitcoin Etfs, & Euro Dollar Impacts w/ Steven McClurg, or watch the video.

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Transcript

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0:00.0	You're listening to TI-P.
0:03.0	Hey everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals podcast.
0:07.4	So it's been a crazy week with multiple bank failures and many people in the industry
0:12.0	referring to the Silicon Valley bank failure as potentially being a Lehman-sized event.
0:17.1	So I sat down with Mr. Stephen McClurge, who's the CIO at Valkyrie, former experience at
0:21.6	Guggenheim, and just an all-around brilliant macro-thinker.
0:25.7	And we recorded this conversation at the end of last week with everything that was happening,
0:31.2	what it meant for the broader economy.
0:33.2	His thoughts around the impact of the Bitcoin on-ramps going bankrupt like Silvergate, and
0:37.8	then we soon learned over the weekend signature bank.
0:41.0	His thoughts on the Bitcoin ETF potentially getting approved due to the GBTC legal action
0:45.6	that's currently taking place with the SEC and much more.
0:49.1	So with that, we're going to hop right to it, and this is my interview with Mr. Stephen
0:53.7	McClurge.
0:55.7	You're listening to Bitcoin Fundamentals by the Investors Podcast Network.
1:02.7	Now for your host, Preston Pish.
1:14.7	So just an admin note before we start the show, Stephen and I, like I said in the intro,
1:20.7	had this conversation Friday morning on 10 March, and it was looking like Silicon Valley
1:26.0	bank was about to fail, and then it was imminent.
1:29.3	Also signature failed later during the weekend.
1:32.6	I think it was Sunday night that they announced the failure there.
1:36.1	Also the Federal Reserve announced a new program to prevent contagion over the weekend.
	...

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