And even if things start humming, if that humming is still fueled by low interest rates,

there are going to be a lot of people with an eye on the long-term asking when the House

of Cards comes crashing.

Even people who have a fiduciary responsibility to make a bunch of money while the duct tape

and paper clips hold.

Bitcoin has already demonstrated itself to this

group, and it makes it far more likely that they will keep hold of it as a potential hedge

against that eventual reckoning. Welcome back to The Breakdown with me, NLW. It's a daily podcast

on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and produced and distributed by CoinDesk.

What's going on, guys? It is Tuesday, February 16th, and today we are talking about, you know it, $50,000 Bitcoin, and specifically

whether it shows that we are in a Bitcoin super cycle. So first, the news. After a week

or so of threatening the Rubicon was breached this morning between 745 and 8 a.m. Eastern time,

Bitcoin punched up above 50,000.

Now, it immediately met a cell wall and had a $600 candle down,

and is at the time of recording closer to $49,000,

but to me, that technical response is far less significant

than the psychological barrier of a $50,000

all-time high being breached. So today's special early breakdown is all about that.

I reached out to followers this morning asking what topics you all thought were important for a 50K

show. I also popped into a couple of different clubhouse

chats to see what people were focused on. And overwhelmingly, across both of those mediums,

...