Trend Alert…Unchaining The Block Chain
Money Tree Investing
Money Tree Investing Podcast
4.6 • 658 Ratings
🗓️ 31 January 2025
⏱️ 81 minutes
🧾️ Download transcript
Summary
Joe Kelly shares how he is unchaining the block chain through his company Unchained. He shares his entrepreneurial journey and insights on Bitcoin and its evolving role in finance. He detailed Unchained's services, which cater to long-term Bitcoin holders by addressing security, inheritance, IRAs, and financial tools like trading and lending. We talk Bitcoin's pivotal developments, including the approval of ETFs, institutional support, and the potential for a U.S. strategic Bitcoin reserve. We also explore mining economics and the broader industry's role in cementing Bitcoin as a foundational digital commodity.
Today we discuss...
- Joe Kelly's entrepreneurial journey from Alaska to Texas, emphasizing his early inspiration from Bitcoin.
- The importance of Bitcoin's shift to ETFs, noting the role of institutional players like Fidelity and BlackRock in mainstream adoption.
- The potential of a U.S. strategic Bitcoin reserve signals Bitcoin’s growing recognition as a critical, limited-supply asset.
- Bitcoin itself is virtually hack-proof, with vulnerabilities usually tied to key management or exchange-level breaches.
- Mining, while lucrative, is contrasted with direct Bitcoin investment, with the latter often yielding higher returns over time.
- There is a tradeoff between directly buying Bitcoin, which may influence its price upward, and the challenges of operating a mining business.
- Michael Saylor's Bitcoin strategy involves leveraging MicroStrategy's treasury to buy Bitcoin, funded through loans, convertible bonds, and equity dilution.
- The model has parallels to Ponzi-like structures, though it lacks the "rug pull" mechanics since the risks are transparent and tied to Bitcoin's performance.
- Bitcoin's value proposition hinges on its limited supply of 21 million coins, creating a perception of scarcity and long-term potential.
- Investors must approach Bitcoin with a balanced mindset, acknowledging both its potential for high returns and the risk of total loss.
- Bitcoin's volatility often causes steep downturns, which can challenge investors unprepared for long-term holding.
- Bitcoin's core utility lies in its robustness as a secure, scarce, and decentralized store of value.
- Emerging use cases from Bitcoin-related technologies include identity verification and fraud prevention, though these are indirect benefits.
For more information, visit the show notes at https://moneytreepodcast.com/unchaining-the-block-chain-joe-kelly-682
Today's Panelists:
- Kirk Chisholm | Innovative Wealth
- Barbara Friedberg | Barbara Friedberg Personal Finance
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Transcript
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| 0:00.0 | Welcome to the Money Tree Investing Podcast. |
| 0:04.0 | Stock market, wealth, personal finance, value stocks, invest in your life. |
| 0:10.0 | Hello, Smart Money Tree Podcast listeners. |
| 0:13.0 | Welcome to the sweet show. |
| 0:14.0 | My name's Kirk Chisholm and I will be your host. |
| 0:16.0 | So today I've got Joe Kelly join us. |
| 0:18.0 | How you doing, Joe? |
| 0:19.0 | Great. |
| 0:20.0 | Well, glad to have you here. For those of you |
| 0:21.9 | don't know, Joe, tell us a little bit about your background before we begin. I've been an entrepreneur |
| 0:25.9 | most of my career based in Austin, Texas. I actually grew up in Anchorage, Alaska. As a teenager, |
| 0:30.6 | living on a sailboat for a couple of years with my family. It really set me on the path of wanting to become an entrepreneur and kind of early, you know, probably inspired me to look |
| 0:38.5 | at Bitcoin too when it came around. Started Unchained. I'm the co-founder CEO here. We started in 2016, |
| 0:44.1 | and we focused on providing financial services for long-term Bitcoin holders. |
| 0:49.0 | What kind of services? Isn't everybody kind of a hodler? They just hold on for dear life and |
| 0:54.0 | that's it. |
| 0:54.5 | Like, what do you guys do? |
| 0:55.7 | Yeah, but there's interesting ramifications there. |
| 0:57.9 | And indeed, I modify it by saying, you know, it's long-term holders, so tentity people we work with. |
| 1:01.7 | And they do have hold Bitcoin. |
| 1:02.9 | But when you hold Bitcoin for the long term, you have issues around the security of it, the safekeeping. |
| 1:07.7 | There's a lot of exchange out there. There's been a lot of exchange hacks and ways to lose your Bitcoin. So that's always top of mind for people, but also matters of inheritance |
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