Ep. 652 Understanding Crypto: Misconceptions and Realities of Todays Volatile Markets

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 29 April 2025

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of the Crypto 101 Podcast, hosts Bryce Paul and Brendan Viehman welcome Les Borsai, co-founder of Wave Digital Assets. The conversation explores Les's journey from the music industry to the world of cryptocurrency, his insights on market volatility, and the misconceptions that high net worth individuals have about crypto. Les shares his experiences navigating the 2021 market crash, the role of government in crypto, and the infrastructure opportunities that exist in managing digital assets. The discussion emphasizes the importance of understanding risk tolerance and the potential for innovation in the crypto space. Les emphasizes the importance of understanding the underlying economics of Bitcoin and the need for education in the government sector to facilitate innovation.

Chapters

00:00 Introduction to Crypto 101 Podcast

01:59 Les Borsai's Journey into Crypto

05:26 Genesis of Wave Digital Assets

08:21 Navigating Market Volatility and Opportunities

11:02 Common Misconceptions Among Investors

13:41 Comparing Current Market Conditions

16:21 Government's Role in Crypto and Policy Implications

18:36 Infrastructure Opportunities in Crypto Management

24:57 Government Insights on Digital Currency Management

27:09 Regulatory Challenges in the Crypto Space

30:33 The Role of Legislation in Crypto Innovation

33:04 Disruption of the Music Industry by Blockchain

38:25 Blockchain Voting: Possibilities and Limitations

40:48 Bitcoin's Future in a Volatile Market

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Transcript

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0:00.0	All right, ladies and gentlemen, boys and girls, gather around the radio, gather around the internet streaming device of your preference, wherever you are in the world. You are certainly in the right place because you're joining the Crypto 101 podcast, and we're here to kick some tushy and have some fun. Brendan, how are you feeling?
0:26.4	Man, I don't think we've had an intro that good ever, Bryce, but you're spot on.
0:31.0	When you got to guess like hours today, who's just an incredible ball of energy and who's got some contrarian views.
0:40.2	Nothing gets me quite hyped up as that.
0:42.8	So I'm pleased to introduce to everybody, Les Borsi.
0:46.8	Welcome to the show, CEO of Wave Digital Assets.
0:51.2	I want to take the CEO title, but not really.
0:53.8	I hate you.
0:54.0	Co-founder. co-founder.
0:55.0	And so Dave Seamer, my partner, is the actual CEO, which is good because he can get shot
1:00.5	with all the arrows and I'll just keep doing my thing. But I loved your introduction and it scared
1:07.0	the shit out of me because I'm like, oh shit, he said tush. He didn't say ass.
1:16.0	And my profanity, you know, I'm going to have to hold it back now. So, you know, we, we pride ourselves on being a family show that, you know, folks who are listening, you know, they might be
1:20.4	driving their kids to school and all that. I got right when I first started the podcast. I'll never forget it. And my mom listens to every episode. So, hi, mom. She called me out. She's like, son, you know, you don't need to be using those words as
1:33.5	much as you've been using them. So I toned it back a little bit. But, you know, all in good fun.
1:38.6	And with this market volatility, I've certainly said my fair share of swear words over in the past few weeks. But Les,
1:46.0	we're really excited to dive in. You've got a storied past from working in the music industry
1:51.8	to now, you know, and then in 2013 investing in Ripple, you know, in 2015, being one of the
1:57.3	earliest investors of an Ethereum. So take us back in the time machine a little bit.
2:02.2	How, you know, kind of how did you get into crypto? And what does crypto kind of mean to you?
2:06.7	What pulled you in? Well, you know, it's funny. The music business, we have to go back to the music
2:11.8	business to really kind of think about what my thinking is and how I look at the world. And, you know, what I loved about the music
	...

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