BTC211: Bitcoin vs Art and Real Estate w/ Tad Smith (Bitcoin Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 4 December 2024

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Exploring the art world with Tad Smith, former CEO of Sotheby’s, as we uncover the intersection of art, Bitcoin, and investment strategies. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 02:28 - The significance behind the $6.2M sale of a banana duct-taped to a wall. 08:07 - How stories shape the perception and value of art investments. 08:46 - What makes artwork valuable beyond its aesthetic appeal. 14:54 - Why scarce and desirable items tend to accrue lasting value. 23:20 - Whether and how investors market stories to amplify art's value post-purchase. 24:13 - The role of Bitcoin’s proof of work in distinguishing it from other protocols. 27:04 - How tokenization is transforming the art world. 33:56 - The historical role of leverage in outpacing inflation and the "money printer." 38:12 - Insights into Michael Saylor’s strategy with MicroStrategy. 47:50 - Key considerations for investing in art from a professional standpoint. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Tad’s X (Twitter) Account. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Follow our official social media accounts: X (Twitter) | LinkedIn | | Instagram | Facebook | TikTok. Check out our Bitcoin Fundamentals Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota Connect Invest TastyTrade Miro American Express The Bitcoin Way Public Fidelity Fundrise Onramp SimpleMining ReMarkable Vanta Shopify Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.7	Hey, everyone, welcome to this Wednesday's release of the Bitcoin Fundamentals podcast.
0:06.9	This episode is brought to you by River, the place that I personally go to securely invest in Bitcoin with confidence and with zero fees.
0:15.1	On this week's episode, I have a stellar guest with Mr. Tad Smith.
0:19.1	Tad is the former CEO of Madison Square Gardens Company,
0:22.4	the former CEO of Sotheby's premier fine art auction house. During the show, we talk about many
0:27.5	different topics. But I'm telling you guys, I learned a ton about the art world, how it's priced,
0:32.2	how to think about things in investment terms, and are these prices we're seeing like a $6 million banana getting duct taped to a
0:39.6	canvas? Is this just insane or is there something else going on here? All of these questions are
0:44.3	answered in such thoughtful detail. You guys are going to love this chat. Tad is fun and such
0:49.7	a thoughtful guest. So without further delay, here's the chat.
1:20.1	Celebrating 10 years. guest. So without further delay, here to the show. I am here with Tad Smith. Boy, I'm excited to have this conversation. This is going to be an interesting one. So, sir, welcome to the show.
1:24.4	Preston, great to be here. Thank you. So, Tad, this is where I want to start. A week ago, two weeks ago, there was this auction that happened with Sotheby's.
1:35.2	And this was just, this was like the shot heard around the world back. I want to say back in 2019, there was an artist, he goes, and correct me if I'm getting any
1:44.4	of this wrong, but there was an artist, I think this happened down in Miami, had a banana,
1:48.5	duct tapes it to a canvas. It sells, I think it was selling for like 150, 200,000, somewhere
1:55.5	in that ballpark. Everybody online was talking about how absurd this is that somebody could do this and sell it for those kinds of prices.
2:04.0	So if that wasn't enough, this past week, two weeks ago, this comes back up again.
2:09.3	I think it's the same art.
2:10.6	And I think this art is called a comedian.
2:13.4	And this just sold for $6.2 million.
2:22.5	And for people in the Bitcoin space, they're well aware of Justin's son was the buyer. But he wasn't the only person.
	...

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