American HODL & Matt Odell join the show for a review of a year that left most Bitcoin narratives exposed. We unpack why expectations ran ahead of reality, why the super cycle never materialised, and how ETFs, treasury companies, and institutional capital quietly changed how this market actually operates. We get into Bitcoin’s underperformance versus gold and equities, the absence of meaningful retail demand, and how leverage distorted outcomes rather than driving real adoption.

We discuss what this means long term. From institutional involvement and shifting power structures, to the breakdown of the four year cycle framework. We also get into custody, incentives, freedom, and whether Bitcoin has to pass through the traditional system before it can meaningfully reshape it.

THANKS TO OUR SPONSORS:

ANCHORWATCH

BLOCKWARE

LEDN

BITKEY

SWAN

FOLLOW:

Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny

American HODL: https://primal.net/hodl

ODELL: https://primal.net/odell

Die Schlacht um das 22-Milliarden-Imperium von Lukoil hat begonnen: US-Veto stürzt Europa in Versorgungsnot

NachDenkSeiten – Die kritische Website

Bis wann muss Lukoil einen Käufer finden?

The AI-powered Podcast Player