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
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Guest:
Links:
Swan Bitcoin:
Bitcoin ETFs:
FTX
Ordinals:
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