What valuation metrics should crypto investors use?

Gm! This week, we're joined by founder of Inversion Capital Santiago Roel Santos to discuss Bitcoin breaking $95k, why crypto valuations are struggling, how AI and traditional markets offer better value and clearer cash-flow stories, and why the next era of winners will be real applications, not infrastructure. Enjoy!

–

Go follow the new 1000x feed to keep up to date with all new episodes!

Spotify: https://bit.ly/4676Sob 

Apple: https://bit.ly/4etlBMd 

–

Follow Santi: https://x.com/santiagoroel

Follow Avi:  https://x.com/AviFelman 

Follow Jonah:  https://x.com/jvb_xyz 

Follow 1000x:  https://x.com/1000xPod. 

Join the 1000x Telegram: https://t.me/+fz-2f0cwC6o0MWNh

–

Kraken Custody delivers secure, qualified custody for institutions and HNWI clients. With multi-layer security and SOC 2 Type II completed, client assets stay safe, fully segregated, and always under your control. Trade, stake, and transfer directly from qualified custody through seamless integration with Kraken Prime. Built for institutions that demand performance, compliance, and control. Learn more: https://www.kraken.com/institutions/custody

Availability of products may vary by jurisdiction. Not investment advice. Custody services are offered through Kraken Financial, a Wyoming-chartered Special Purpose Depository Institution.Kraken Financial is not an FDIC-insured bank and deposits are neither insured by nor subject to the protections of the FDIC.Crypto trading involves risk of loss. View legal disclosures at kraken.com/legal/disclosures.

–

peaq, the Machine Economy Computer, proudly sponsors the 1000x podcast. 

peaq is home to 60+ apps across 20+ industries and millions of onchain devices, machines, and robots. 

It powers the world’s first tokenized robo-farm in Hong Kong and has launched the Machine Economy Free Zone in Dubai as an innovation hub for Web3, Robotics, and AI.

For more about peaq, check out www.peaq.xyz

–

Katana directs chain revenue back to DeFi users for consistently higher yields.

It starts with VaultBridge, which turns bridged assets into yield streams that back a perpetually funded real yield, boosting rewards for DeFi users. Katana is pioneering Productive TVL, assets actually being used in DeFi and reinforces this with Chain-owned Liquidity, permanent liquidity the chain controls. Stop sleeping on your bags:

https://app.katana.network/?utm_source=BW-Pod
–

Timestamps:

(00:00) Introduction

(00:58) Crypto’s Valuation Problem

(04:37) Crypto vs the Stock Market

(07:51) Crypto’s Valuation Problem Cont.

(12:45) Ads (Kraken OTC, Peaq)

(14:10) Is This Time Different?

(18:25) Valuations vs Active Users

(21:39) Future of Blockchain

(25:18) Bitcoin vs Crypto

(29:13) Crypto Needs Cash Flows

(32:31) Ads (Kraken OTC, Peaq, Katana)

(34:34) Underwriting New Chains

(41:48) Western Union Thesis

(44:54) Equity vs Token Holders

(47:26) The Future of Blockchain Investments

(50:42) Missing the Forest for the Trees

(55:02) Still Bullish Bitcoin

(59:17) Institutional Interest in Crypto

(01:05:23) Final Thoughts

–

Disclaimer: Nothing said on 1000x is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Avi, Jonah and our guests may hold positions in the companies, funds, or projects discussed.