UNCHAINED: Why Swan CEO Cory Klippsten Is Still Convinced That Bitcoin Is Headed to $1 Million
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 20 December 2023
⏱️ 82 minutes
🧾️ Download transcript
Summary
The outspoken entrepreneur discusses his unwavering long-term support for the premier cryptocurrency, and why he thinks all alt-coins are eventually going to zero.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
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Swan founder and CEO Cory Klippsten is all-in on Bitcoin. Not only does he believe that Bitcoin is poised to reach $1 million by 2030, he also thinks most alt-coins add little to no value and will eventually all go to zero. Accordingly, his company is a massive bet on the future of Bitcoin, from educating people about the world’s first crypto and convincing them to eventually self-custody, to making private equity investments in the Bitcoin ecosystem, to eventually planning to launch the first US Bitcoin-only trust company to create a safer environment for investors.
Here he talks to Unchained about his crypto journey, the likely impact of spot Bitcoin ETFs on crypto adoption and prices, his extreme skepticism about Bitcoin Ordinals, when he first knew Sam Bankman-Fried was a fraud and why he thinks that crypto VCs have done a “massive disservice” to the world.
Show highlights |
- What Swan Bitcoin is, its origin story, and the future trajectory envisioned by Cory
- Cory's journey into crypto, his journalism background, and the shift to a Bitcoin-centric focus
- How Cory is navigating discussions with hedge funds, family offices, and insurance companies in anticipation of a Bitcoin spot ETF
- Swan’s Bitcoin-only investment strategies
- How lending and borrowing with Bitcoin is evolving
- Cory's private equity investments within the Bitcoin ecosystem
- The rationale behind Swan launching the first US Bitcoin-only trust company
- Swan's stance on financial privacy, especially after warning customers that banks might close their accounts if they used mixers
- Cory's reasoning for advising against "trading" the Bitcoin spot ETF launch
- Predictions on when BTC might reach new all-time highs
- Cory's perspective on Bitcoin Ordinals and their impact on the Bitcoin mempool
- The concerns about decreasing block rewards and the future security of Bitcoin
- Why Cory was convinced of FTX's fraudulent nature after reviewing the balance sheet that led to SBF's downfall
- Why he thinks that VCs have done a "massive disservice” to the world
Thank you to our sponsors!
Uniswap | Popcorn Network | Arbitrum Foundation
Guest |
Cory Klippsten, CEO of Swan Bitcoin
Links |
Swan Bitcoin:
Protos: Some Swan Bitcoin customers lose banking access
CoinDesk: BitGo, Swan to Form Bitcoin-Only Trust Company
WSJ: Crypto Custodian Prime Trust Files for Bankruptcy Protection
Cointelegraph: Swan Bitcoin to terminate customer accounts that use crypto-mixing services
Bitcoin ETFs:
Previous coverage on spot Bitcoin ETFs:
How Much Money Will Flow Into Bitcoin ETFs? Here’s One Projection
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10
Why It Looks Like BlackRock Could Win America’s First Spot Bitcoin ETF
The Chopping Block: Are We Back? The ‘Low IQ’ Response to the Potential Spot Bitcoin ETF
Unchained:
Why the SEC May Want Cash Creation of Spot Bitcoin ETFs
Bitcoin ETFs Explained: What Are They & How Do They Work?
BlackRock Updates Bitcoin ETF Filing to Make Access Easier for Wall Street Banks
FTX
CoinDesk: Divisions in Sam Bankman-Fried’s Crypto Empire Blur on His Trading Titan Alameda’s Balance Sheet
Ordinals:
Cory’s tweet on Ordinals
Unchained:
Bitcoin Ordinals-Related Token ORDI Passes $1 Billion in Market Value
Bitcoin Mempool Reaches Record Levels of Congestion
Bitcoin Ordinal NFTs Are Hot and Getting Hotter. What’s the Hype About?
Bitcoin’s BRC-20 Mania: Is It Sustainable?
Why All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin
Learn more:
How to Create a Bitcoin Ordinal
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Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 1:06.0 | And all I can say here is like I will stick to my long-term target that I've been giving since |
| 1:11.8 | 2020 in 2020 dollars a million dollars a coin by 2030. And everything else is just a guess, |
| 1:17.8 | but like I'll stick to that. And I don't know what that's going to be in nominal terms by then. |
| 1:23.0 | It'll be at least, it'll have to be at least 1.3 or 1.4 accounting for inflation over the course of the |
| 1:28.2 | decade. But yes, in $20, my 2030 prediction is a million dollars a coin or sat-sent parity. |
| 1:39.6 | Hi, everyone. Welcome to Unchained, your no-hype resource for all things Crypto. I'm your host, |
| 1:44.7 | Laura Shin, author of The Cryptopians. I started covering crypto eight years ago, and as a senior editor of Forbes, |
| 1:51.0 | was the first mainstream media reporter take up a cryptocurrency full-time. This is the December 19th, |
| 1:56.1 | 2023 episode of Unchained. This episode is brought to you by Uniswap. |
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