Is the Bull Market Back? With Alex Thorn - WBD734
Mr Obnoxious
Peter McCormack
4.8 • 2.7K Ratings
🗓️ 10 November 2023
⏱️ 70 minutes
🧾️ Download transcript
Summary
Alex Thorn is the Head of Firmwide Research at Galaxy. In this interview, we discuss a range of topics including Galaxy’s sponsorship of Real Bedford FC, the growing trend of Bitcoin sponsorship in sports and the current state of the hip-hop music industry. We also talk about Bitcoin, including factors influencing its price, the potential approval of a Bitcoin spot price ETF(s), the importance of Bitcoin ownership and its role as a medium of exchange.
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Full disclosure, Galaxy became the first official sponsor of Real Bedford Ladies FC in the summer, allowing them to have professional coaching and for players to get paid for the first time. This has boosted the team: they are currently top of their league having won all their matches, and this Sunday they play in the first round of the world-famous FA Cup. I talked about this and the growing trend of Bitcoin sponsorship in sports with Alex Thorn.
We also talked about Bitcoin and the potential factors influencing its price action: for example, there is a correlation between Bitcoin price and US economic policy. We discussed the impact of the upcoming halving event, for which there is growing anticipation. And we pondered the question of when to sell Bitcoin in the context of other investment opportunities; now might not be the right time to sell Bitcoin due to its potential for growth.
The podcast covered the recent SEC amendments regarding Bitcoin spot price ETFs, involving additional risk disclosures for investors, possibly indicating a shift in SEC behaviour towards Bitcoin. We touched on the potential impact of a Bitcoin spot price ETF, with increased adoption and price growth tempered by concerns about institutionalization. We also considered the impact on Grayscale's business model, noting that lower fees in ETFs could affect their profitability.
Finally, the discussion emphasized the importance of educating others about Bitcoin's value and fundamental features. Widespread understanding and adoption of the underlying principles of Bitcoin are crucial for its long-term success. Alex encourages Bitcoin enthusiasts to continue spreading awareness and discussing its values with friends, family, and potential investors.
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Show notes: https://www.whatbitcoindid.com/podcast/is-the-bull-market-back
This episode’s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
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Transcript
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| 0:00.0 | During the bear market between 2013 and 17 it was like you know |
| 0:04.4 | bitcoins for criminals now it's like largest asset manager on earth |
| 0:08.6 | as part of a flight to quality trade it's truly unremarkable. |
| 0:11.8 | Hello there how are you all doing? |
| 0:15.0 | We've got a good weekend plan. |
| 0:16.0 | We've got a big weekend here in Bedford, lots of football. |
| 0:20.0 | We've also got Robert Breedlove in town for our Bitcoin meet up at McMullen Park in Bedford. |
| 0:24.3 | So if you want to join us for that, if you're in and around Bedford, we're kicking off at 12, |
| 0:28.7 | but we're meeting at 12 for a 1230 start. We will have pizza, beer and soft drinks for everyone and we'll be talking to |
| 0:35.1 | Robert about Bitcoin and various macro things and what's going on in the world. So come |
| 0:39.1 | and join us down at the Mullen Park and we'll have a football match afterwards. |
| 0:42.3 | Anyway, welcome to the What Bitcoin did podcast, |
| 0:45.2 | which is brought to you by the Massive Legends |
| 0:46.9 | at Iris Energy, the largest NASDAQ listed Bitcoin miner |
| 0:50.4 | using 100% renewable energy. I'm your host Peter McCormack and today we are back with |
| 0:54.9 | Galaxy Brain Alex Thorne to get into everything from hip-hop to ETFs. Now a few |
| 0:59.8 | months back we had Alex on the show to talk about the potential for a Black Rock EDF to trigger hyper-bit colonization. |
| 1:06.5 | And since then we've had a few bits of news, so we asked Alex to come back on the show and update us on everything so we can get behind the speculation |
| 1:14.4 | what may happen to the prize after the SEC finally approves a Bitcoin ETF. |
| 1:18.6 | Now Galaxy Research headed up by Alex recently released a report suggesting that in the first year |
| 1:24.2 | following approval the ETS could see inflows of 14.4 billion dollars and |
| 1:29.2 | this is a conservative guess so I'm feeling bullish right now I know you are the prices |
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