The Ironic Rise of Bitcoin in Pensions

In this episode of Bits + Bips, hosts James Seyffart, Noelle Acheson, and Ram Ahluwalia are joined by Alex Thorn, head of research at Galaxy Digital, to discuss the surprising mainstream buzz around XRP’s latest rally, dubbed the “most hated rally in crypto.” 

They also analyze the new Treasury Secretary’s ambitious economic plan and what it could mean for inflation, fiscal discipline, and market stability. Meanwhile, Ethereum struggles to reclaim its narrative as the go-to blockchain, even as its ETH/BTC ratio shows signs of life.

And in a moment that captures the personal side of crypto’s rise, the team reflects on Thanksgiving table conversations, where bitcoin and digital assets became unexpected stars. 

Show highlights:

• Why the newly appointed Treasury Secretary might be the right person for the job
• Whether the December rates cut is unnecessary
• How Marc Andreessen brought Operation Chokepoint 2.0 to the spotlight
• How Facebook’s project Libra would have benefited the US Dollar hegemony
• Whether the U.S. Congress will pass stablecoin legislation in 2025
• Why Ram believes Ryan Selkis would be a good Crypto Czar
• How people have been asking more about bitcoin during Thanksgiving
• Whether the XRP rally is a negative indicator
• What James thinks about the filings for news ETFs, such as WisdomTree’s XRP
• Why Alex thinks that ETH could continue its recent rally
• The impact of MicroStrategy being added to the Nasdaq-100, aka the QQQ ETF

Hosts:

• James Seyffart, Research Analyst at Bloomberg Intelligence
• Ram Ahluwalia, CFA, CEO and Founder of Lumida
• Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter 

Guest:

• Alex Thorn, Head of Firmwide Research at Galaxy Digital

Links

Politics

• Unchained: 
• Trump Taps Hedge Fund Manager Scott Bessent to Be Treasury Secretary
• The Trump-Connected Brad Bondi Is A New SEC Chair Contender and Pro-Crypto
• Investing: How Scott Bessent Plans to Reshape the US Economy with His 3-3-3 Rule

Macro

• Investing: US manufacturing improves in November as orders rebound, input price gains slow

Operation Chokepoint 2.0

• Forbes: How ‘Debanking’ Tech And Crypto Companies Could Kill Businesses
• Marc Andreessen and the CFPB: Debunking the Debanking Debunkers by Nic Carter
• Unchained: Regulators Are Limiting Banks Serving Crypto Clients. Does That Violate the Law? 
• Unchained: Killed By Politics, Ex-Diem Boss Says of Meta’s Stablecoin

XRP

• Unchained: 
• XRP Becomes the Top Traded Token on Binance and Coinbase, Hits Almost 7-Year High
• XRP Rallies 70% in a Week to Top Solana, Tether Market Cap
• The Block: WisdomTree files with SEC for spot XRP ETF

Ethereum

• Unchained: Ether Gains 19% Against Bitcoin in a Week After Months of Underperformance

 Timestamps:

• 00:00 Intro
• 02:15 Why the new Treasury Secretary could reshape the economy
• 06:28 Is a December rate cut unnecessary?
• 15:18 How Marc Andreessen spotlighted Operation Chokepoint 2.0
• 19:54 The missed opportunity of Facebook’s Libra for USD dominance
• 26:48 Will stablecoin legislation finally pass in 2025?
• 31:28 Why Ram thinks Ryan Selkis should be the “Crypto Czar”
• 34:45 Bitcoin conversations taking over Thanksgiving dinner
• 39:48 Is the XRP rally a red flag for the market?
• 48:15 James’s take on new ETF filings like WisdomTree’s XRP
• 55:48 Why Alex believes ETH could extend its recent gains
• 1:01:37 What MicroStrategy’s NASDAQ addition means for crypto

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