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The Pomp Podcast
#1484 Chad Cascarilla | Millionaire Buys Bitcoin At 3 Cents & Refuses To Sell!
Feb 10, 2025
Chad Cascarilla, Co-founder and CEO of Paxos, shares his journey as an early Bitcoin investor and the evolution of the cryptocurrency market. He dives into the critical role of stablecoins in promoting financial inclusion, particularly for the unbanked. Discussions highlight the transformation from traditional finance to blockchain, including how tokenization can enhance liquidity and accessibility. Cascarilla also emphasizes the necessity for conventional institutions to innovate and integrate with digital finance to stay relevant.
01:01:13
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Quick takeaways
- Chad Cascarilla's initial skepticism about Bitcoin evolved into belief as he recognized its transformative potential and finite supply for future value appreciation.
- Stablecoins facilitate stable digital currency transactions, empowering individuals in regions with unstable financial systems and providing new avenues for wealth growth.
Deep dives
Chad Cascarilla's Early Conviction in Bitcoin
Chad Cascarilla, co-founder and CEO of Paxos, recognized Bitcoin's potential early on, initially approaching it with skepticism, viewing it as a high-risk penny stock when he first acquired it at around three cents. His investor background allowed him to see the technology behind Bitcoin, particularly its underlying blockchain, as transformative. This perspective led him to advocate for Bitcoin as a possible reserve asset that could reshape the financial system in response to the shortcomings revealed during the financial crisis. As he accumulated Bitcoin, his obsession with acquiring more stemmed from the understanding that its finite supply meant that the more he could secure early on, the greater potential for value appreciation in the future.
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