The Mustard Seed—a bitcoin and long-term thinking podcast The Next Liquidity Wave Will Look Completely Different w/ Peter Dunworth
9 snips
Jan 21, 2026 
Peter Dunworth, a Bitcoin advisor and strategist, dives into the future of Bitcoin and market dynamics. He reveals that 2025 laid the groundwork for strong regulatory advancements, despite underwhelming price performance. Dunworth argues that ETFs have revolutionized Bitcoin's market structure and ponders how a 2013 ETF might have altered adoption rates. He explores the global collateral crisis and Bitcoin's potential as a resolution, while emphasizing the growing importance of AI-driven abundance increasing Bitcoin's value over time.
AI Snips
Chapters
Books
Transcript
Episode notes
ETFs Permanently Changed Market Structure
- ETFs changed Bitcoin's market structure by making institutional access familiar and scalable.
- That shift plus declining halving impact ends the classic four-year price cycle.
Will, Not Tech, Drove Fast ETF Approval
- Rapid regulatory shifts in a few months enabled banks and ETFs to onboard Bitcoin at scale.
- Institutional will, not just technical readiness, unlocked mass adoption pathways.
From Winklevoss To Larry: ETF History
- Peter credits the Winklevoss twins for early ETF attempts and Larry Fink for fast-tracking approval.
- He emphasizes that political will changed outcomes rapidly in 2024.
