We Study Billionaires - The Investor’s Podcast Network BTC024: Plan B & Adam Back on Bitcoin Contango & Derivatives (Bitcoin Podcast)
May 5, 2021
In this engaging discussion, Plan B, the creator of the influential stock-to-flow model for Bitcoin, teams up with Dr. Adam Back, co-founder of the leading Bitcoin company Blockstream. They dive into the current market conditions and the implications of the massive contango trade for Bitcoin's future. The duo also explores Bitcoin fungibility, the recent drop in hash rate, and the exciting potential of Lightning Network adoption. Their insights on where we stand in the market cycle are both thought-provoking and informative for any crypto enthusiast.
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Adam Back's Dip-Buying Strategy
- Adam Back used to buy Bitcoin dips only when the correction reached 20%.
- Now, with lower volatility, he buys at 10% dips.
A Necessary Correction
- PlanB sees the current Bitcoin correction as a healthy and necessary event after a rapid price surge.
- Multiple negative news events contributed to this correction, strengthening the foundation for future growth.
Hash Rate Drop Clarification
- The reported Bitcoin hash rate drop in China was overstated due to inaccurate extrapolations from limited data.
- Adam Back suggests the actual drop was closer to 25% rather than the reported 40%.