BTC121: Bank Failures & Bitcoin w/ Steven McClurg (Bitcoin Podcast)
Mar 15, 2023
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Steven McClurg, CIO at Valkyrie and a macroeconomics expert, shares insights on the recent bank failures and their repercussions on the economy and Bitcoin. He discusses the Federal Reserve's current considerations and how distinct these recent failures are compared to past crises. The conversation explores the potential impacts of Wall Street's actions on Bitcoin on-ramps and raises questions about the future of Bitcoin ETFs and the effect of paper Bitcoin on the market. McClurg's analysis offers a unique perspective on navigating the evolving financial landscape.
Preston Pysh sits down with Steven McClurg, who’s the CIO at Valkyrie, and just an all-around brilliant macro thinker, to talk about the multiple bank failures, what it meant for the broader economy, Bitcoin, and more.
IN THIS EPISODE, YOU’LL LEARN:
00:00 - Intro
03:03 - What are the three things the FED is currently considering?
26:15 - Why Silvergate, Signature, and Silicon Valley Bank are different than many other banks?
31:29 - What rules from the Global Financial Crisis are currently impacting regional banks?
52:26 - Is there a concerted effort by Wall Street and the government to remove onramps to Bitcoin exchanges?
54:36 - Steven's thoughts on Custodia's bank application with the FED being denied.
57:00 - What's going to happen with the GBTC suit with the SEC with respect to the ETF application?
01:05:29 - What impact has paper bitcoin had on the market to date and Steven's expectation into the future?
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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