Chat_143 - Rise and Fall of BTC Treasuries and the Stablecoin Dilemma with Allen Farrington
Bitcoin Audible
Intro
This chapter delves into the complexities of capital markets, examining how leverage affects Bitcoin treasuries and stablecoins. The discussion highlights the potential risks of market destabilization and the transformative role of stablecoins in the financial landscape.
"The whole MNav trade, it has as much implied leverage on the way down as it does on the way up.
I have a lot of sympathy for the idea that actually this is what triggers the next bear market, that there's so much leverage introduced via this mechanism that not only do a lot of the treasury companies themselves get wiped out, but the sell pressure is so severe that it impacts Bitcoin as a whole."
~ Allen Farrington
In this episode of the podcast, I sit down with the always insightful Allen Farrington to dive into some of the most fascinating topics in the Bitcoin space. We explore the intersection of Bitcoin and Islamic finance, where Allen shares his latest research and the potential for Bitcoin to align with ancient principles of financial justice. We also tackle the wild world of stablecoins, discussing how they're changing the game for both better and worse. Allen breaks down the MNAV trade and why it might be the next big risk in the Bitcoin ecosystem. Plus, we dive into the future of work and how AI is reshaping the way we think about productivity and value. As always, Allen brings his sharp wit and deep understanding of Bitcoin's role in the world. This one's a great conversation that spans Bitcoin’s intersections with finance, philosophy, and the future of money.
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