The Mark Moss Show The Next Bitcoin Shock No One Sees Coming | Pierre Rochard
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Dec 18, 2025 
Pierre Rochard, Bitcoin advocate and VP of Research at Riot Platforms, discusses Bitcoin's transformative impact on finance. He details the breakdown of the classic 4-year cycle and the implications of Wall Street's adoption. Pierre emphasizes the importance of Bitcoin treasury companies and the risks of political backlash. He explores issues like ETF rollouts, the necessity of lobbying for Bitcoin's future, and how inheritance and mining economics will shape the next phase of adoption. Expect insights into leveraging Bitcoin and fostering active community engagement.
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Speculative Attack Driving Bitcoin Demand
- There is a speculative attack where people borrow fiat to buy Bitcoin, forcing fiat to tighten policy to compete.
- Bitcoin's fundamentals suggest upside surprise is more likely than downside going forward.
Early Conviction From Sound Money Roots
- Pierre discovered Bitcoin in 2012 while studying open-source and sound money and was drawn by its fixed 21 million supply.
- He saw Bitcoin as an upgrade over gold because it could be adopted voluntarily without societal collapse.
How Currency Competition Really Works
- Currency competition happens via interest rates, capital controls and reserves, not military force.
- Borrowing weak fiat to buy strong currencies (or Bitcoin) is a modern form of speculative attack.