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The Breakdown

Crypto Daily 3@3 - 7.31 | What Fed rate cuts mean for BTC / IEO performance / Funding/M&A Roundup

The Breakdown

Blockworks

Investing, Business

4.8786 Ratings

🗓️ 1 August 2019

⏱️ 14 minutes

🧾️ Download transcript

Summary

The Fed cut interest rates today for the first time in Bitcoin's life. This move is interesting directly because lower rates lead to more money in the markets. It's interesting symbolically as it represents a major narrative evolution where financial markets are actively discussing Bitcoin and not the other way around. We also look at IEO performance a few months into the phenomenon and do a quick roundup of funding and M&A action - it's all infrastructure and base layer protocols.  Watch the original at https://www.youtube.com/nathanielwhittemorecrypto

Transcript

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0:00.0

Welcome back to another Crypto Daily 3 at 3.

0:05.0

What's going on, guys?

0:07.0

Interesting day today.

0:09.0

I wanted to kick it off with kind of a macro theme.

0:14.0

The Fed cut rates today for the first time in Bitcoin's life.

0:19.0

It cut interest rates by 25 basis points, 0.25% of a percent.

0:23.6

And there was a lot of conversation about this. But I actually want to start even a little bit farther out

0:28.6

because I think that the relevance here is this kind of larger macro conversation and Bitcoin moving its narrative

0:34.6

into away from just what Bitcoin is and into what it represents

0:38.9

for the rest of the world.

0:40.5

So I'm actually going to quote really quickly or play a clip from Stefan Levera's recent podcast,

0:46.5

Brawl Paul, which was just great.

0:48.3

So I'll be back in just a second after I play this.

0:53.1

Generation.

0:54.2

The millennial generation,

0:56.6

well, if they were to buy equities at this point,

0:59.0

they're the most expensive they've ever been in all history, roughly.

1:02.1

If they buy bonds, they get virtually no yields.

1:05.5

If they buy real estate, well, it's unaffordable.

1:08.2

But even if they could, it's almost an all-time record highs.

1:12.4

So what the hell does a millennial do to save for your future when almost all assets have

1:18.3

negative imputed returns for the next 20 years, 10 years?

...

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