Unhedged The Bitcoin National Strategic wha?
40 snips
Dec 26, 2024 
Toby Nangle, a former fund manager and FT contributing editor with deep insights into finance, joins to discuss the U.S. government's substantial bitcoin holdings, confiscated from illegal operations. They explore Senator Lummis's proposal for a national strategic reserve of crypto and the implications this could have on the financial system. The conversation touches on bitcoin's speculative nature, its capped supply, and the historical parallels with financial bubbles. Plus, they lighten the mood by sharing festive favorites and whimsical wishes.
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Bitcoin Basics
- Bitcoin is mined by computers solving complex puzzles to win prizes.
- A maximum of 21 million Bitcoin can ever exist.
Bitcoin's Price
- Bitcoin's value, currently $100,000, is undeniable, despite its volatility.
- Its value is untied to underlying assets like businesses or states.
Bitcoin's Value
- Bitcoin has no intrinsic value but derives its worth from market agreement.
- Similar to meme stocks, its value is determined by what people are willing to pay.