Inflation & the Role of Bitcoin with Steven McClurg - WBD410
Mr Obnoxious
Peter McCormack
4.8 • 2.7K Ratings
🗓️ 15 October 2021
⏱️ 64 minutes
🧾️ Download transcript
Summary
Location: Nashville
Date: Wednesday 29th September
Company: Valkyrie Investments Inc
Role: Co-Founder
Mainstream economists consider a benchmark rate of 1-3% price inflation optimal to promote consumption and economic growth. However, as prices rise, savers lose purchasing power, and asset holders increase their net worth.
Over the last 18 months, more than $5 trillion dollars have been created in the US alone, and legislation that would spend over $3 trillion more is under consideration. This increasing supply of money is driving prices higher.
Today, Consumer Price Inflation has sustained a 30-year high of over 5%, and it may be threatening to go higher.
So what happens next, and how does Bitcoin fit in?
In this interview I talk to Steven McClurg, Co-Founder of Valkyrie Investments. We discuss the problems of rising inflation, fragility in equities and bonds, and if Bitcoin can serve as a hedge.
Transcript
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| 0:00.0 | If the government is printing 5% more dollars and they're using that money to do things, |
| 0:11.0 | they've essentially taxed you with the money that you already have |
| 0:14.2 | without you knowing it. |
| 0:15.0 | Welcome to the What Bitcoin did podcast which is brought to you by Gemini, the only place |
| 0:19.1 | I'm using for buying Bitcoin. I'm your host, Peter McCormack, and this week I'm kicking off with Ledger |
| 0:23.8 | the world's most popular hardware wallet. Now for your new Bitcoin that's out there a |
| 0:27.6 | hardware wallet allows you to take custody of your Bitcoin and I have been a |
| 0:31.8 | ledger customer since early 2017. I bought a |
| 0:34.7 | Nanos back then and I'm still using that bad boy now. Ledger makes it easy for |
| 0:39.3 | you as a Bitcoiner to safely manage your Bitcoin using their Ledger Live software which interfaces |
| 0:44.7 | with your device and if you are an Android phone user you can connect that to your nanos and |
| 0:49.3 | manage your Bitcoin on the go. If you want to find out more please head over to ledger.com |
| 0:56.2 | next up we have Gemini who I am using exclusively for buying the selling |
| 0:59.9 | Bitcoin but I still not sold a single sat through Gemini. |
| 1:04.0 | We're in a bull market. Why would I be selling my Bitcoin? |
| 1:07.0 | Now, I've started using the Gemini app for buying the DIPs, |
| 1:10.0 | but I also set up my DCA with twice monthly buys a Bitcoin, |
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| 1:25.9 | now if you want to find out more please head over to gemini.com which is geminI-D. Next up we have my newest sponsor which is Compass Mining, but they're not just a sponsor. |
| 1:37.1 | I am also a customer of Compass. I bought myself five S-19s. Anyway, look, it's good to be back mining. I really fucking love these guys. |
... |
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