A huge part of the industry was basically making a ton of money off that trade and using that to give high yield interest accounts. I don't believe the market cap of Bitcoin is going organically enough to be large enough to support 300 million plus of immediate demand from potentially fickle investors with stop-loss triggers. The price will keep rising until it doesn't. Then one day the ETF will need to offload half its holding because people get scared. You think you've seen volatility, baby, you ain't seen nothing yet.
Sunny and Vinny are BACK to break down all the important topics in crypto: SBF updates (2:52), how $GBTC played into the industry unraveling (11:34), why we should be paying attention to Genesis (25:51), Michael Saylor's recent comments (44:13), and more!
(0:00) Jason tees up today's crypto roundtable!
(2:52) Sunny and Vinny are back to talk about the current vibes in crypto and some updates on the SBF situation
(10:20) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist
(11:34) How the Grayscale Bitcoin Trust played into the industry unraveling
(24:21) Supergut - Get 30% off with code TWIST at https://supergut.com
(25:51) Why Genesis is more concerning than $GBTC
(35:00) Microsoft for Startups Founders Hub - Apply in 5 minutes, no funding required, sign up at http://aka.ms/thisweekinstartups
(36:29) Decentralized exchanges, importance of self custody, how Solana's price drop relates to Genesis
(44:13) Michael Saylor's recent comments on Ethereum and Ripple being securities, problems with the "foundation" entity workaround
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