Supply Shock Bitcoin’s Next Demand Shock Is Coming | Kyle Reidhead
Jun 24, 2025
Kyle Reidhead, founder of Milk Road and expert in crypto investing, dives into the dynamics shaping Bitcoin's future. He discusses how geopolitical tensions like the Israel-Iran war could drive demand. The conversation touches on Bitcoin's relationship with gold and why it could be seen as both risky and safe. Reidhead also explores the strategies of major players like Michael Saylor and the implications of stablecoins in the market. Is a new demand shock on the horizon for Bitcoin? Tune in to find out!
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Demand Drives Bitcoin Price
- Bitcoin's price is driven more by demand and macro liquidity cycles than just its supply halvings.
- Like stocks and gold, Bitcoin follows broader economic and liquidity cycles since 2008.
Bitcoin Tracks Dollar Weakness
- Bitcoin price correlates more with declines in the U.S. dollar than with M2 money supply alone.
- A weaker dollar facilitates global liquidity, enabling economic growth and boosting risk assets like Bitcoin.
Gold-Copper Ratio Signals Cycle
- The gold-copper ratio signals stages of the business cycle relevant to Bitcoin's risk environment.
- Copper outperforms in late cycles indicating risk-on periods, while gold leads early uncertain phases.