Choosing Between Macro and AI/HPC Focus

CleanSpark VP Rory Murray joins us to discuss bitcoin mining stocks, the macro economic environment, and bitcoin’s 4 year cycle theory.

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Welcome back to The Mining Pod! Today, Rory Murray, VP of digital asset management at CleanSpark, joins us to talk about the explosive markets we're seeing in late 2024, why he believes Bitcoin's four-year cycle is dead, and the secular trends that will define the next chapter of crypto. We dive deep into the debasement trade, record bitcoin ETF inflows, the intersection of macro and Bitcoin mining stocks, and what keeps a veteran trader up at night. Also, Rory shares his framework for navigating animal spirits and how they relate to Bitcoin's long-term trajectory.

**Notes:**

- SPX up 30 basis points daily since April

- Largest ever crypto ETF inflow week

- Q3 earnings 3x higher than analyst forecasts

- Four-year Bitcoin cycle thesis challenged

- Record institutional Bitcoin adoption

- CleanSpark operates across 4+ US states

Timestamps:

00:00 Start

02:24 Rory title upgrade

04:48 Traders

06:02 Good trading desks?

08:00 Where's the alpha?

13:01 Mining stock data sources

14:00 Stock & BTC ripping higher?

24:53 Debasement trade

28:09 Gold is back baby!

28:48 Monetary flows

31:55 Worries

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