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Afford Anything

Why Bitcoin is Back in the News | First Friday

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 1 March 2024

⏱️ 23 minutes

🧾️ Download transcript

Summary

#491: Welcome, Emma Chamberlain’s fans!! Thanks for joining the Afford Anything community. You can find out how to escape the 9-to-5 grind at affordanything.com/escape Once a month, on the First Friday of the month, we explore the hot economic and money stories that are dominating the headlines. These days, Bitcoin is back in the news. As of Friday morning, March 1st, its price ranged around $62,000, which is pretty darn close to its previous all-time high of $68,700. But why? Crypto was hot in 2020, but it faded from memory in recent years. What’s behind the comeback? And what does that tell us about how investments become fads? Find out in today’s First Friday bonus episode. Bonus listening: https://affordanything.com/325-bitcoin-for-beginners for a deep dive into understanding how Bitcoin works. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

First I want to say a big hello and offer a warm welcome to everyone from Emma Chamberlain's

0:05.5

podcast who is now part of the Afford Anything Community. Welcome! I had an amazing conversation

0:10.8

with Emma on her podcast for those of you who haven't heard it go listen to the

0:15.2

Emma Chamberlain podcast she is so inspiring and so much fun and we had a brilliant

0:22.3

discussion about money, about some of the internalized messages that we are led to believe, including money negativity.

0:30.0

We're taught that money is the root of all evil. We're taught to be ashamed of having money. We're taught that money is the root of all evil. We're taught that rich people are

0:35.6

greedy. We often internalize these messages and then we very subtly self-sabotage

0:40.4

ourselves. Because in a society that gives us conflicting views about money, in a society

0:47.2

that often reduces money to either something to be worshipped, i.e. the people on Instagram with the

0:56.0

Lamborghinis and the flashy lifestyles, or something to be disparaged, i.e. the pendulum swing that states that not only does money, quote unquote, not

1:06.5

matter, but that those who have it are greedy, like the cartoonish versions of Montgomery

1:11.3

Burns and Scrooge McDuck that we see in the media, right,

1:16.2

Ebenees are Scrooge. You know, we see money simultaneously glorified and

1:20.6

vilified. Those are between the Lamborghinisies and the Ebenezer Scrooge.

1:25.0

Those are the two stories about money that we are told

1:29.0

through most of the media that we consume.

1:31.0

Money is either something to be idolized or something to be feared. It is rare

1:36.8

that we ever encounter media that gives us a healthy relationship with money that says we encourage you and empower you to be

1:48.8

wealthy, not for the sake of flashing Lamborghini photos on Instagram,

1:55.0

but rather for the sake of expressing your values,

1:59.1

your best life, your priorities through this medium for the sake of living in the way that you want to live

2:06.0

and having that lifestyle be enabled by the freedom, the choice that money allows you.

...

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