Inflection Point
Inflection Point is a weekly podcast for institutional professionals navigating crypto’s transition from a retail-driven market to a core component of global finance. Hosted by Blockworks Research Analyst Marc Arjoon alongside Matt Hougan (CIO, Bitwise), David Lawant (Head of Research, Anchorage), and Michael Marcantonio (Head of DeFi, Galaxy), the show delivers top-down, institution-led analysis of ETF flows, policy, market structure, and macro. It cuts through the noise to focus on the true inflection points shaping crypto’s institutional future.
Episodes
SEC Commissioner Hester Peirce On The Rulebook For Crypto & Tokenized Securities
Markets are being rebuilt around blockchain, but the rules governing them are still being written.
This week, we sit down with SEC Commissioner Hester Peirce to discuss how tokenization is reshaping market structure and where regulation is headed next.
We cover tokenized securities, the innovation exemption, Rule 611, DeFi market structure, and the future of public markets. Enjoy!
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Is Strategy’s Credit Machine Starting To Crack?
Strategy built a Bitcoin credit machine and now the market is testing whether it really works.
This week, we examine the growing pressure on Strategy as STRC trades below par, investors questioning the company’s evolving role, and how the market reassesses the assumptions behind its Bitcoin-backed capital structure.
We also discuss what it would take for STRC to recover, Bitmine copying Str
Outdated Rules Are Holding Crypto Back
The biggest opportunities in crypto may be emerging just as prices eye a bottom and investors are questioning old assumptions about markets, regulation, and where value will accrue next.
This week, we explore whether recent market strength signals a meaningful shift for crypto or simply another chapter in an increasingly complex macro environment.
We also discuss record M&A activity, SEC mar
Blockworks Acquires Messari
In this special episode, Blockworks announces its acquisition of Messari and unpacks what it means for crypto’s next phase. Michael and Jason explore why Messari’s breadth of data, APIs, and research complement Blockworks’ deep on-chain analytics, investor relations, and disclosure products. They also address crypto’s trust problem, the need for standardized data and disclosures, and how Blockwork
How Tokenization Will Rebuild Capital Markets | Gabe Otte
A quiet shift is underway that could fundamentally change how capital markets operate.
This episode, Gabriel Otte, co-founder and CEO of Dinari, explains why tokenization is more than a new wrapper for securities and how it could transform financial infrastructure.
The discussion explores tokenized stocks, regulatory frameworks, global market access, ownership rights, and why programmable as
Crypto Is Forcing Traditional Finance To Upgrade
The institutions are coming, but not where most crypto investors expect. As Wall Street adopts blockchain technology, the biggest opportunities may be shifting from Bitcoin itself to the infrastructure, applications, and market structures reshaping finance.
This week, we discuss the arrival of perpetual futures in the U.S., the stablecoin battle with traditional banks, and why crypto is increas
AI Is Winning The Capital War Against Crypto
As capital floods into AI, crypto is being forced to answer a tougher question: what actually deserves to survive when narratives stop driving markets?
This week, we explore why crypto has fallen out of favor while AI dominates investor attention, and whether regulatory uncertainty is keeping capital on the sidelines.
We also discuss Hyperliquid’s rise, the growing privacy narrative around Z
Hyperliquid Is The First Crypto Super App
This week, we discuss Bitcoin's price action, break down Hyperliquid's growth into a derivatives super app, the SEC withdrawal of its innovation exemption and the CLARITY Act's path through the Senate. Enjoy!
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TIMESTAMPS:
(00:00) Intro
(01:27) Outlook on Bitcoin
(08:41) Hyperliquid’s Revenue Engines
(16:40) HYPE ETFs Steal the Show
(26:04) ICE & OKX Challenge Hype
(36:33) SEC Pauses Inn
Clarity's Make Or Break Moment And Strategy Selling Its Bitcoin
Washington, Wall Street, and Big Tech are all converging on stablecoins at the exact same moment, but the next phase may depend less on ideology and more on politics, payments, and institutional flexibility.
This week, we discuss the Clarity Act, stablecoin adoption accelerating through Big Tech, and why Strategy considering Bitcoin sales to help power STRC.
We also explore stablecoin yield
Bitcoin Breaks $80k As Washington Moves On Clarity
Crypto markets may finally be entering crypto’s next phase, but the biggest breakthroughs could depend less on price action and more on regulation, infrastructure, and who controls the rails.
This week, the team breaks down Bitcoin’s macro-driven rally, accelerating ETF demand, and why optimism around the Clarity Act is suddenly rising.
They also explore tokenized equities, transfer agents b
Bitcoin Flows & DeFi Value Are Driving Crypto’s Next Repricing
Bitcoin is pressing against a critical threshold, but the real story lies beneath the surface where institutional forces, market structure, and crypto-native coordination are reshaping the next phase.
This week, we unpack Bitcoin’s push toward $80K, the surge in ETF inflows, and how institutional demand is aligning in a way that could shift market momentum.
We also explore DeFi’s response t
DeFi Reality Check & The KelpDAO Hack
DeFi faces a defining stress test as a wave of exploits exposes hidden fragilities and forces a rethink of how decentralized systems actually operate.
This week, we unpack the KelpDAO exploit, exploring what went wrong and what it reveals about infrastructure, risk, and market structure.
We discuss single points of failure, contagion across lending markets, AI-driven exploits, evolving risk
Strategy's Yield Machine & SEC Unlocking DeFi Front Ends
Crypto is quietly rebuilding the financial system from the ground up, but what happens when traditional structures like yield, regulation and creative financial engineering get reassembled onchain?
This week, we explore new financial primitives, focusing on Strategy’s STRC product and the evolving DeFi regulation shaping institutional adoption.
We discuss synthetic yield products, Bitcoin tr
Vaults Are The Next Asset Management Revolution
Vaults promise to rebuild asset management from scratch and do it faster, cheaper, and fully programmable, but the path from niche DeFi product to institutional backbone is far from straightforward.
We sit down this week to unpack how vaults are evolving from crypto-native yield tools into a serious contender for institutional capital.
We explore programmable funds, institutional adoption, r
Crypto's Quantum Risk is Coming Faster Than Expected
A quiet but accelerating threat is forcing crypto to confront its biggest vulnerability yet: what happens if quantum computing breaks the foundations of digital security sooner than expected?
Marc and David explore this very threat, bringing an institutional lens to the growing urgency around quantum risk, Bitcoin’s governance constraints, and how different ecosystems may respond to a potential “
Crypto Still Lacks A Valuation Framework
Crypto may be nearing a critical inflection point, but one foundational problem still lacks consensus: how do you actually value a blockchain network?
We sit down live from the Digital Asset Summit in New York to unpack crypto valuations through institutional and market structure lenses.
We explore cash flow vs. scarcity, network effects, revenue limitations, market share dynamics, and why a sha
Investor Relations in the Onchain Era
In this special episode, we introduce Blockworks’ new investor relations platform for onchain businesses.
As institutional capital continues to enter crypto markets, expectations around transparency, standardization, and professionalism are rising. But instead of replicating legacy systems, Blockworks IR takes a different approach, leveraging real-time, onchain data to create a more transparent
The S&P Moves Onchain Amid Massive Regulatory Sea Change
Crypto’s long-standing regulatory fog is beginning to lift, raising a deeper question about what the industry actually becomes once clarity arrives.
The team discusses a major sea change in regulation and institutional adoption, unpacking how new SEC and CFTC guidance is reshaping the institutional crypto landscape.
We explore token classification, Hyperliquid’s S&P license, stablecoin adoption
Kraken Gets Fed Access as Crypto Takes on the Banks
In this episode, we explore a major turning point in crypto’s relationship with the traditional financial system and why a single banking approval could reshape the future of the industry.
Marc is joined by David, Michael, and Matt to unpack Kraken securing a “skinny” Fed master account and what it signals about crypto’s growing integration with the U.S. banking system.
We also discuss crypto ma
Introducing: Inflection Point | The Crypto-TradFi Convergence
In this first episode of Inflection Point, we explore the accelerating convergence between traditional finance and crypto as institutional adoption begins reshaping the foundations of global financial infrastructure. The conversation examines ETFs, DeFi innovation, market structure shifts, institutional flows, and how evolving investor behavior is changing Bitcoin and digital asset markets. Along
Supply Shock | How Bitcoin Exposes Money, Power & Human Nature | Tibor Fischer
In this episode, novelist Tibor Fischer joins Supply Shock to discuss why Bitcoin finally found its way into fiction, using satire and storytelling to explore crypto culture, Austrian economics, and the human motivations behind speculation, belief, and escape. Fischer reflects on Bitcoin’s ideological roots, the difference between Bitcoin and broader crypto, and why markets, not narratives, ultima
Supply Shock | Why 2026 Is Bitcoin’s Institutional Wake-Up Call | Dom Bei
In this episode, Don Bei joins the show to discuss how Bitcoin is moving from the fringes into institutional portfolios, from pensions and endowments to corporate treasuries, while also spreading at the grassroots level through workers and local politics. We dig into market dynamics, adoption hurdles, and what comes next. Enjoy!
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Supply Shock | Quantum Risk Is Forcing Institutions To Rethink Bitcoin | Christopher Jensen
In this episode, Director of Digital Asset Research at Franklin Templeton Christopher Jensen discusses why quantum computing is a real threat to Bitcoin, why the topic is resurfacing now, how institutions are pricing and managing that risk, and what potential upgrade paths could look like. Enjoy!
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Supply Shock | Bitcoin Racehorse: The First Real-World Asset Financed By Bitcoin
In this episode, we dig into one of Bitcoin’s strangest early stories; the time a group of OG Bitcoiners pooled BTC to buy a real racehorse. We explore early crypto finance experiments, on-chain sleuthing, unanswered questions about the investment, and what this forgotten episode reveals about Bitcoin’s earliest believers. Enjoy!
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Supply Shock | Bitcoin Has Entered The Quantum Event Horizon | Charles Edwards
In this episode, Charles Edwards joins the show to discuss why quantum computing has become a real market risk, the valuation impact, upgrade paths, and what could unlock the next move. We also explore why Bitcoin’s classic cycle may be breaking, how institutional flows and liquidity are reshaping price action, and more. Enjoy!
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Supply Shock | Bitcoin Hasn’t Bottomed & the Cycle Still Controls Everything | Michael Terpin
In this episode, Michael Terpin returns to the show to discuss whether Bitcoin’s four-year cycle still holds, how whales and institutions shape market tops and bottoms, what signals matter most during drawdowns, and why the next bull market may look very different from the last. We also dig into regulation, altcoin narratives, and cycle timing. Enjoy!
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Supply Shock | Bitcoin’s Next Decade Will Run Through Public Companies
In this episode, Rizzo is interviewed by Tyler Rowe from Treasury Orange to explore how Bitcoin’s narrative is shifting from grassroots rebellion to corporate balance sheets, why Bitcoin treasuries have become the defining theme of this cycle, how figures like Michael Saylor reframed Bitcoin for institutions, and what this means for payments, capital markets, and the next decade of adoption. Enjoy
Supply Shock | Bitcoin’s Hard Limits and Illusion of Governance | John Carvalho
In this episode, John Carvalho returns to challenge prevailing assumptions about Bitcoin governance, scaling, and maximalism, arguing that many current debates are distractions from Bitcoin’s core constraints. We explore his framework for understanding blockspace, protocol subjectivity, and why he believes future changes to Bitcoin may be far harder than most expect. Enjoy!
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Supply Shock | Bitcoin’s Next Cycle Is Political | Nolan Bauerle
In this episode, Nolan Bauerle joins the show to discuss Bitcoin entering a new phase where politics, Wall Street, and nation-states reshape its trajectory. We explore why this cycle disappointed expectations, how ETFs and financial engineering changed the game, and why 2026 may matter most for Bitcoin’s next act. Enjoy!
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Supply Shock | Bitcoin Year-End Review: Power, Politics & Financialization | Rob Hamilton
In this episode, Rob Hamilton joins to discuss Bitcoin entering a new phase shaped by institutions, politics, and infrastructure. We explore what 2025 revealed about Bitcoin’s power shifts, cultural fractures, and unresolved questions heading into 2026. Enjoy!
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Supply Shock | Why Bitcoin Blockspace May Be Severely Underpriced | Blockspace Baron
In this episode, Blockspace Baron joins the show to deep dive into a contrarian Bitcoin thesis: treating block space itself as a scarce, financial asset. We explore why Blockspace Baron is aggressively acquiring it, how inscriptions and tokens reframe fee economics, and what this could mean if transaction fees rise. Enjoy!
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Bitcoin is the Antidote to a Broken System | Natalie Brunell
In this episode, Natalie Brunell unpacks how Bitcoin reframes money, incentives, and opportunity in a world where inflation and broken systems quietly shape daily life. We also discuss why Bitcoin is apolitical and a universal antidote to the broken American dream. Enjoy!
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Bitcoin Needs Innovation, Not Complacency | Jameson Lopp
In this episode, Jameson Lopp returns to discuss Bitcoin’s muted 2025 cycle, the shifting power from retail to institutions, and the messy but necessary evolution of Bitcoin’s development, governance, and blockspace economics. We also explore Zcash’s unexpected resurgence, the risks and realities of future forks, and what truly threatens Bitcoin heading into 2026. Enjoy!
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The $13,000 Book Preserving Bitcoin's History | Jimmy from Smashtoshi
In this episode, Jimmy from Smashtoshi joins the show to discuss its multi-year project to preserve Bitcoin’s history. We discuss how early communities shaped the network’s identity, how Bitcoin’s story blends technology with social movements, and why today’s institutional wave risks overshadowing the ideals that built it. Enjoy!
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Is The Bitcoin Treasury Trade Dead? | John Fakhoury
In this episode, John Fakhoury joins the show to discuss Bitcoin’s “missing bull market,” how Bitcoin is becoming a global macro asset, why institutions can no longer ignore it, and why hype-driven treasury companies and altcoins are facing a harsh reality check. We also explore what could drive the next phase of adoption, what 2026 may bring, and why Bitcoin might reach its next milestone in a fa
Why Bitcoin's Price Is Lagging Adoption...For Now | Alexandre Laizet
In this episode, Alexandre Laizet explains why Bitcoin price can stall despite record institutional interest, what’s really driving volatility behind the scenes, and how Bitcoin treasury companies fit into the next phase of adoption. We also dig into why “the setup has never been more bullish,” how Wall Street treats Bitcoin as (not yet) money, and what investors can expect heading into 2026. Enjo
Bitcoin’s Legal Crisis: The Szabo Debate | Roundup
In this episode, we’re back with another Roundup to discuss why Nick Szabo’s latest tweets sparked such backlash. The panel digs into what this controversy reveals about Bitcoin’s culture, from debates over arbitrary data and node responsibility to fears of centralization and social pressure. A sharp look at how technical disagreements can morph into full-blown community rifts and potential legal
Why Bitcoin Can’t Scale | John Carvalho
In this episode, John Carvalho joins the show to discuss his unconventional view that Bitcoin’s real bottleneck isn’t technology but trust, challenging the assumptions behind Lightning, layer-two “scaling,” and even the broader cultural narratives about Bitcoin’s future. We also discuss why he believes layers don’t truly scale Bitcoin, how trust dynamics shape every payment system, and why Synonym
Bitcoin’s Four-Year Cycle Is Breaking But Not Dead | Tim Enneking
In this episode, Tim Enneking joins the show to discuss why Bitcoin’s recent drawdown isn’t a crash, why the old cycle models are breaking, and how shifting ownership and institutional behavior may be reshaping the entire market. He also digs into who might be selling, where the real catalysts could emerge next, and what long-term investors should keep an eye on. Enjoy!
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The Billion-Dollar Arms Race That Started Over $10 Bitcoins | Bill Tai & George Kikvadze
In this episode, Bill Tai and George Kikvadze join the show to explore the untold, insider history of Bitcoin mining through the lens of BitFury’s founders, exploring their early struggles, near-death moments, regulatory battles, Silicon Valley skepticism, the birth of ASIC mining, the role of Necker Island gatherings in shaping the industry, and how those lessons inform Bitcoin’s present institut
Inside the Secret Bitcoin Fork Telegram Channel | Roundup
This week, we break down the escalating emergency soft-fork push inside the Bitcoin fork telegram channel, including the bans, inconsistencies, shifting activation plans, and the core dispute over whether a minority can (or should) restrict existing user behavior on Bitcoin. The panel dissects the technical, social, economic, and philosophical stakes, from property-rights violations to purity spir
Bitcoin’s Next Generation Meta Protocol is Bringing Back Smart Contracts | Adam Krellenstein
In this episode, co-creator of Counterparty Adam Krellenstein joins the show to unveil Kontor – a next-generation Bitcoin meta-protocol offering native smart contracts and scalable file storage built directly on Bitcoin. He explains how Kontor builds on the legacy of Counterparty, colored coins, and Ordinals to bring true DeFi to Bitcoin without sidechains. Enjoy!
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Ledger Chief Experience Officer on the Future of Bitcoin Self-Custody | Ian Rodgers
In this episode, we sit down with Ledger’s Chief Experience Officer, Ian Rogers, to discuss the launch of the new Ledger Nano Gen 5 and the evolution of Ledger Wallet. We dive into how Ledger is improving hardware wallet usability and the company’s broader vision of securing Bitcoin to enable a full digital value ecosystem. Enjoy!
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BIP-444: The Soft Fork That Could Split Bitcoin | Roundup
In this episode, we dive into the escalating Bitcoin civil war over BIP-444 — the proposed “emergency soft fork” to limit arbitrary data onchain. The panel debates “pleb slop” culture, anti-core developer sentiment, and whether the community is repeating the moral crusades of the Blocksize Wars. We also dissect miner incentives, exploiting user-activated vs. user-rejected forks, property-rights im
Buy Bitcoin Like a House: How Anyone Can Own a Whole Coin | Lamar Wilson
In this episode, Lamar Wilson – founder of Black Bitcoin Billionaire and creator of Orange House Capital – joins the show to discuss his new platform that lets everyday people buy Bitcoin the same way they’d buy a home: with a down payment and monthly installments. Lamar explains how this “Bitcoin mortgage” model aims to make ownership accessible without credit checks, drawing parallels to how tra
Bitcoin's Emergency Fork Proposal: Biggest Divide Since the Blocksize Wars | Roundup Debate
In this episode, we’re joined by Shinobi, Joakim Book, and Aaron van Wirdum to discuss the emergency Bitcoin soft fork proposal that could split the network. We debate whether the proposal’s “legal and moral” justifications hold any weight, question who defines harm within Bitcoin, and explore how technical limits, cultural rifts, and power struggles will shape Bitcoin’s future. Enjoy!
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Bitcoin’s Worst October in 7 Years: The End of Uptober? | Boaz Sobrado
In this episode, Boaz Sobrado joins the show to unpack Bitcoin’s toughest October in a decade, how institutional traders may be flipping traditional market narratives, and the exchange shifts reshaping crypto. We also discuss the rise of corporate Bitcoin adoption, strategic government reserves, Square’s renewed push for Bitcoin payments, and if this cycle is truly different. Enjoy!
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Crypto News Roundup: Shutdowns, Seizures, & Stablecoins | Joakim Book
In this episode, Rizzo & Joakim Book break down the latest in Bitcoin and crypto: from the market crash and Polymarket’s NYSE deal, to the U.S. government’s Bitcoin seizures, growing dominance of stablecoins, and Bitcoin’s four-year cycle. Enjoy!
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Bitcoin's Crisis of Stagnation, Upgrades, & Control | Paul Sztorc
In this episode, Paul Sztorc joins to break down the evolving politics of Bitcoin development from user vs. developer control to the failures of Lightning, the role of dissenting implementations, and the long-term challenges of security and fees. It’s a wide-ranging discussion on the future of Bitcoin’s growth, governance, and survival. Enjoy!
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Tackling Bitcoin's Biggest Debates: Lightning, Quantum, & Knots | Mike Tidwell
In this episode, Lightning developer at ZBD Pay and organizer of TABConf Mike Tidwell joins the show to discuss the experimental, community-driven format of TABConf, the hotly contested future of the Lightning Network, rising concerns over quantum computing, and the philosophical divides between Bitcoin Core and Knots. We also explore how governance, user participation, and mempool policies will s
Bitcoin Spam Wars: Who Controls Bitcoin’s Future? | Pierre Rochard
In this episode, return guest Pierre Rochard debates the future of Bitcoin’s protocol rules, the cultural shift brought by ordinals and Taproot, and the role of spam mitigation and OP_RETURN, including the incentives of miners versus node operators and the legal and political risks posed by arbitrary data on Bitcoin. We dive into governance, incentives, and whether dissenting implementations like
Why This Bitcoin Cycle Could Last Until 2027 | Mike Alfred
In this episode, Founder & Managing Partner at Alpine Fox Mike Alfred explains why this bull run could stretch into 2026–27, how institutions and treasury companies are changing the game, and why retail is still asleep. He also dives into the risks and narratives shaping the market, how investors should think about balancing Bitcoin with Bitcoin proxies like miners, and why he’s fading the Bitcoin
Bitcoin Core vs Knots: Are We Headed for a Fork? | Mike Schmidt
In this episode, Mike Schmidt of Brink unpacks Bitcoin’s current technical war. We cover misconceptions about Bitcoin Core, the heated debate around OP_RETURN and relay policies, the role of node operators versus popular will, how funding and incentives shape development, and the risks of multiple implementations. Enjoy!
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Living a Bitcoin-Only Life Is Now Possible | Shehzan
In this episode, Founder of Lava Shehzan Maredia explains how Bitcoin-backed loans, yield products, payroll conversion, and self-custody tools through Lava are enabling people to live on a Bitcoin standard while avoiding sales, taxes, and centralized risk. Enjoy!
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Bitcoin & the Coming Wave of Money Printing | Arthur Hayes
Live from the Origin Summit, hosted by Story and Blockworks, Co-Founder of BitMEX & CIO of Maelstrom Arthur Hayes shares his macro view on the erosion of Fed independence, inevitable money printing, and how these forces intersect with crypto markets. He covers Bitcoin’s performance versus gold and stocks, the political choices around AI’s productivity boom, and why DeFi, stablecoins, and new decen
Bitcoin Core v30 Release: What’s Changing & Why It Matters | Murch
In this episode, prolific Bitcoin Core contributor Murch discusses the forthcoming Bitcoin Core v30 release. We explore the evolution of the release process, the shift from legacy Berkeley DB wallets to descriptor wallets, new features for power users and businesses, performance gains like faster indexing, upgrades to networking and mining interfaces, and the cultural debate around conservatism, p
Turning $0.05 Cans Into BTC | Bruno Oliveira
In this episode, Bruno Oliveira and his translator (Felipe Demartini) join the show to discuss Bruno’s journey turning cans into SATs. We discuss how his love of Bitcoin blossomed into a stacking opportunity to the tune of 22 SATS per can and how he plans to reach one whole Bitcoin. We also delve into why Brazil needs Bitcoin, Bruno’s Bitcoin children stories, and more. Enjoy!
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How Bitcoin Knots Sparked a New Culture War | Pourteaux
In this episode, Pourteaux joins the show to discuss the rise of Ordinals and inscriptions on Bitcoin, the long-running debate over data storage on the blockchain, and how the controversy around Bitcoin Knots reflects deeper cultural and political shifts within the Bitcoin community. We also explore what this means for Bitcoin’s resilience, miner incentives, and its increasingly partisan perceptio
Bitcoin Wars 2.0: Who’s on the Right Side of History? | Jonathan Bier
In this episode, author of The Blocksize War Jonathan Bier joins the show to compare the ongoing dispute between Bitcoin Core and Bitcoin Knots with the 2015–2017 fork wars. We examine how both sides claim the “small-blocker” legacy, debate the role of fee markets and mining decentralization, and question whether Bitcoin should tolerate non-monetary data like Ordinals and inscriptions. Enjoy!
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Bitcoin Civil War: Core vs. Knots Over Arbitrary Data | Shinobi
In this episode, Rizzo & Shinobi from Bitcoin Magazine dive into the escalating dispute between Bitcoin Core and Bitcoin Knots, unpacking the ideological clash over arbitrary data in transactions, node vs. miner dynamics, and the legacy of the Fork Wars. They explore whether Bitcoin should be a neutral settlement layer or a strictly financial system, the technical realities of relay and consensus
Bitcoin’s Biggest Unsolved Problem is Custody | Michael Tangum
In this episode, co-founder & CEO of Onramp Michael Tanguma argues that this Bitcoin cycle is fundamentally different due to the rising sovereign and institutional bid, suppressed volatility, and structural changes in custody. He explains why gold’s surge is a smoke detector for sound money adoption, why collaborative custody must evolve beyond self-storage and third-party custodians, and why 2022
Bitcoin Treasury Companies Mark A New Era Of "Intelligent Leverage’” | Ed Juline
In this episode, Ed Juline discusses the explosive growth of Bitcoin treasury companies. Ed recounts his journey from early Bitcoin days to working with MicroStrategy, highlighting how “intelligent leverage” has unlocked institutional adoption. We also discuss whether cycles still matter, the risks and opportunities of Bitcoin treasury companies, geographic arbitrage in emerging markets, and how p
Self-Custody is the Only Permissionless Bitcoin | Charles Guillemet
In this episode, Ledger CTO Charles Guillemet explains the importance of self custody. He breaks down the evolution of Bitcoin custody, the tradeoffs between ETFs and true self-custody, the importance of seed phrases, institutional adoption through Ledger Vault, and the challenges of making multisig and hardware wallets user-friendly. Charles also stresses that Bitcoin’s value as permissionless mo
Roman Storm’s Guilty Verdict: What It Means for Digital Privacy | David Z. Morris
In this episode, David Z. Morris breaks down the Roman Storm trial, explaining Tornado Cash’s origins, the split verdict, and why the case sets a critical precedent for financial privacy. He highlights how the jury’s hung decision reflects deeper debates about decentralization, crypto regulation, and the limits of state power over code. Enjoy!
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Bitcoin Stablecoins Will Beat the Dollar | Diego Gutierrez-Zaldivar
In this episode, RootstockLabs co-founder Diego Gutierrez explains how Bitcoin-backed stablecoins and decentralized financial primitives are enabling real-world adoption, especially in volatile economies like Argentina. He contrasts Rootstock’s vision of a Bitcoin-secured, censorship-resistant financial stack with more centralized systems like Ethereum or Solana. Diego also explores how stablecoin
Bitcoin vs. The Censorship Machine: A New Era for Journalists | Gabriel Shipton
In this episode, Gabriel Shipton—brother of Julian Assange—joins the podcast to discuss Project Spartacus, a grassroots initiative inscribing WikiLeaks’ most sensitive archives onto the Bitcoin blockchain. By doing so, the project aims to preserve uncensorable historical records, highlight Bitcoin's original ethos as a tool for resistance, and protect the rights of whistleblowers and journalists.
The Bitcoin Flywheel Accelerating Corporate Adoption | Hans Thomas
In this episode, CEO & Founder of 10x Capital Hans Thomas explains how Bitcoin treasury companies are becoming global “on-ramps” for digital asset adoption, leveraging public markets and the flywheel effect to compound holdings. He shares insights on raising capital from crypto whales and institutions, executing deals in emerging markets, and why execution and low-cost capital matter more than hyp
Is The Global Bitcoin Treasury Boom Just Starting? Tim Kotzman
In this episode, co-host of the Bitcoin Treasuries podcast Tim Kotzman breaks down the rapid rise of Bitcoin treasury companies beyond MicroStrategy, highlighting the opportunities in untapped global markets, the emergence of new investor metrics like Bitcoin-per-share and forward mNAV, and the challenges for retail investors navigating risk and jurisdictional complexity. He discusses company diff
Bitcoin to $1 Million: The Stairway to Heaven | Adrian Morris
In this episode, Adrian Morris of True North argues that Bitcoin’s current market phase is fundamentally different from past cycles. He attributes prior boom-bust patterns less to the halving schedule and more to stimulus-driven speculation, noting that institutional ETFs, corporate treasuries, and reduced volatility are now creating a stronger, more stable bid. This “Stairway to Heaven” thesis en
Bitcoin's Blow-off Top Is Coming | Michael Terpin
In this episode, author of Bitcoin Supercycle Michael Terpin explains why he believes the four-year Bitcoin cycle is still intact. He outlines his view that Bitcoin operates in "seasons" (spring, summer, fall, winter), with predictable post-halving behavior and diminishing returns. While macro forces and ETF inflows may distort short-term sentiment, Michael argues that human psychology and market
Bitcoin’s Four-Year Cycle Is Over | Matt Hougan
In this episode, Bitwise CIO Matt Hougan explains why he thinks the four-year Bitcoin cycle is breaking down. He predicts a smoother, longer cycle ahead, driven by ETF flows, regulatory clarity, and a more mature market structure.While Rizzo wrestles with nostalgia for the classic boom-bust cycle, Hougan makes the case that “this time really is different.” Enjoy!
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Treasury Companies Will Lose The Bitcoin Yield Race | Sidney Powell
In this episode, Maple Finance CEO Sidney Powell joins the show to discuss the evolving market for earning yield on Bitcoin. We explore the rise of Bitcoin treasury companies like MicroStrategy, the differences between capital structure-based returns and real onchain yield, and the role of staking and DeFi in delivering Bitcoin-native returns. Sid breaks down the risk profiles between tokenization
Bitcoin Is Mainstream, But At What Cost? | Alp
In this episode, OG Bitcoiner Alp reflects on Bitcoin’s transformation from a fringe libertarian experiment to a mainstream political tool. They discuss the dilution of early Bitcoin culture, the lingering identity crisis among mid-cycle adopters, the myth of ongoing existential threats, and the shift from cypherpunk ideals to nation-state interests. Alp shares his skepticism of Bitcoin's co-optio
Quantum Computing: Solving Bitcoin's Greatest Threat | Jameson Lopp
In this episode, Bitcoin veteran Jameson Lopp discusses the growing threat of quantum computing to Bitcoin’s cryptography. He breaks down his new Bitcoin Improvement Proposal (BIP) that aims to prevent a catastrophic supply shock by encouraging a network-wide migration to quantum-resistant addresses. Lopp explains the nuances of Shor’s algorithm, possible migration schemes, controversies around lo
Bitcoin Ossification Is a Threat to Its Survival | Eli Ben-Sasson
In this episode, Co-Founder of StarkWare Eli Ben-Sasson joins the show to explore the philosophical and technical crossroads between Bitcoin and Ethereum. He recounts the early hopes of building zk-tech on Bitcoin, the cultural rift that pushed innovation elsewhere, and why Bitcoin’s potential remains limited without soft forks. Eli argues for a future where Bitcoin’s principles—decentralization,
He Traded His HOUSE For Bitcoin In 2017—Why He's STILL HODLing | Didi Taihuttu
In this episode, Didi Taihuttu—aka the "Bitcoin Family" patriarch—shares the origin story behind selling everything to go all-in on Bitcoin, from early GPU mining and Dogecoin experiments to surviving bear markets and living unbanked for nearly a decade. He discusses why he believes Bitcoin is the only true tool for financial freedom, the moral cost of traditional finance, and how the rise of stab
Securities Laws Are Broken & The Market Structure Bill Will Fail | Patrick Murck
In this episode, Founder & CEO of Surus.io Patrick Murck joins the show to reflect on Bitcoin’s rise to a fresh all-time high, its original mission of financial autonomy, and the tension between price appreciation and real-world use. He discusses stablecoins as dollar-compatible tools, why market structure reforms are stalled, and how his new company enables tokenized real-world assets with bankru
Bitcoin’s Battle For Programmable Money | Alex B
In this episode, Alex B from Ark Labs joins the show to discuss how Arkade, a new Bitcoin scaling protocol, enables off-chain programmability without bridges, preserves self-custody, and avoids global state constraints. He discusses complementarity with Lightning, unlocking Bitcoin-native capital markets, programmable contracts, synthetic assets, and how Arkade could transform Bitcoin financial in
Bitcoin Treasuries: We're Just Getting Started | Cory Klippsten
In this episode, CEO of Swan Cory Klippsten discusses Swan Bitcoin’s Series C raise and its partnership with a French semiconductor company pivoting into Bitcoin treasury accumulation. He explains the rise of leveraged Bitcoin equities, how these companies use debt markets to acquire Bitcoin, and the potential influx of institutional fixed income into Bitcoin. Cory breaks down risks, opportunities
Bitcoin Core vs. The World: Why It Can’t Be Shut Down | Peter Todd
In this episode, Bitcoin core developer Peter Todd discusses the rise of Bitcoin Knots, censorship debates, op_return limits, miner incentives, the challenges of blocking ordinals and inscriptions, scaling via Lightning, the future of Bitcoin development, and more. Enjoy!
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