The Hurdle Rate Podcast Episode 22 - Commodity, Security, Token
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Aug 13, 2025 Dive into the evolving landscape of Bitcoin and Ethereum as they navigate market capitalization debates. Discover the implications of centralization within Ethereum and how traditional financial models adapt to cryptocurrencies. Enjoy insights on strategic accumulation of Bitcoin amidst a competitive treasury environment. Also, get a glimpse of the engaging alternative to conferences with the unconference model, emphasizing community-driven discussions. Finally, explore transformative trends in Bitcoin finance and its integration into corporate strategy.
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Public-To-Private Talent Flow
- Bo Hines left public service for private sector roles after working on Bitcoin policy at the White House.
- Guests described this as a common lifecycle where public servants move to well-funded private offers in niche policy areas.
Policy Needs 60 Senate Votes
- Ben Workman argued sustainable Bitcoin policy needs broader Senate support and many more pro-Bitcoin politicians.
- He emphasized that a strategic Bitcoin reserve requires legislative consensus, not just individual advocates.
Math Favors Bitcoin Treasuries
- Jeff Walton ran the math comparing ETH treasury companies to Bitcoin treasury companies and found Bitcoin has a large scale lead.
- He concluded Ethereum treasuries would need massive new capital issuance to match MicroStrategy's Bitcoin share of network value.