Something Big Is Brewing With Bitcoin

The Breakdown

Nathaniel Whittemore

Investing, Business

4.8 • 786 Ratings

🗓️ 8 October 2021

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by NYDIG. On today’s episode, NLW looks at the growing excitement around bitcoin, including: Its decoupling from the stock market What it means that U.S. institutional-focused CME futures are outpacing Deribit retail-focused international futures How bitcoin futures exchange-traded fund (ETF) speculation is driving excitement How growing macro insecurity is driving the BTC narrative NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW. Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW “The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Tidal Wave” by BRASKO. Image credit: Leafedge/DigitalVision Vectors/Getty Images, modified by CoinDesk.

Transcript

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0:00.0	You have the macro landscape, which Bitcoin seems tailor-made for. You have a rush-in of institutional
0:06.5	investors who seem to be excited about this potential for a Bitcoin futures ETF. You have,
0:11.6	if I'm right, the contrast of that approval of Bitcoin, that institutionalization of Bitcoin,
0:16.9	as opposed to some other areas of crypto assets, which are likely in for a rougher time
0:21.2	in terms of regulations. And ultimately, you have number go up, the single greatest technology
0:26.8	for boosting the Bitcoin narrative and attracting new people that has ever existed and will
0:31.2	ever exist. Welcome back to The Breakdown with me, NLW.
0:42.6	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:49.1	The breakdown is sponsored by Nidig and produced and distributed by CoinDesk.
0:56.6	What's going on, guys? It is Thursday, October 7th, and today we are talking about something big happening with Bitcoin. Simply put, there is a lot of buzz and excitement about Bitcoin right now.
1:04.4	Obviously, this is reflected in the price. I don't think I really have to tell you about the price.
1:08.6	It has gone up significantly in the last few days,
1:11.4	including a monster candle yesterday on Wednesday, and there are so many quotes to the effect that
1:17.8	something is happening with Bitcoin. Barry Silbert, the founder of DCG, the parent company of
1:24.2	CoinDesk, among many others, writes, Bitcoin knows something.
1:28.8	Suu from Three Arrow's Capital writes, there's some confluence of Middle East, Softbank,
1:33.5	Latin America, high oil, stock stump, Bitcoin Moon, that have my spighty senses tingling,
1:38.8	to be quite honest. Intergalactic moves occurring at the moment, truly dynastic stuff. So what has investors taking notice?
1:47.1	Well, it's the decoupling from the stock market more than anything. Scott Melker,
1:52.0	the Wolf of All Streets tweeted yesterday, stock market got absolutely hammered today,
1:56.0	but Bitcoin is up, beautifully uncorrelated asset. The Bitcoin archive wrote Nasdaq down, Dow Jones down,
2:03.8	Bitcoin up, uncorrelated asset in a class of its own. It is not, however, just Twitter folks
	...

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