TFTC: A Bitcoin Podcast #652: How To Position For The Bitcoin Boom with Tuur Demeester
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Aug 18, 2025 Marty chats with Tuur Demeester, an economist and Bitcoin analyst at Adamant Capital, recognized for his bullish Bitcoin insights. They discuss Tuur's revised bullish thesis, focusing on the impact of ETFS, institutional adoption, and inflation. Tuur highlights Bitcoin's growing acceptance as collateral in finance, critiquing misconceptions and the psychological barriers to its value. The conversation also touches on the potential for a bull market and Bitcoin's distinct advantages over gold, emphasizing its transformative role in the financial ecosystem.
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Macro Tailwinds Have Strengthened
- Real macro drivers changed since 2023: persistent high real inflation, ETFs, regulatory clarity, and nation-state adoption.
- These shifts make Bitcoin more investable and justify a revised, more bullish mid-cycle thesis.
Chain Data Shows A Longer, Softer Cycle
- On-chain metrics show a healthier bull market with lighter drawdowns and less whale dumping than prior cycles.
- Lighter corrections imply stronger buying and suggest a longer, higher-duration bull cycle.
Six-Factor Framework For Investability
- Mark Hart's six criteria (access, awareness, security, return, patina, collateral) explain why an asset becomes investable.
- Improvement in Bitcoin's patina and collateral use (treasury companies) accelerates institutional adoption.