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The Pomp Podcast
#1364 Jack Mallers | Bitcoin Could Hit $1 Million This Cycle
May 23, 2024
Jack Mallers, Founder & CEO of Strike, discusses the macro environment, investment case for bitcoin, bitcoin vs shitcoins, politics, regulation, and predicts Wall Street will all become bitcoiners. He projects Bitcoin hitting $1 million in value this cycle and explores the ethical and regulatory challenges in the cryptocurrency industry.
01:08:30
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Quick takeaways
- Bitcoin serves as a hedge against global debt and currency debasement, offering a fixed supply alternative asset.
- Bitcoin's appeal lies in its scarcity, lack of central authority, and potential to outperform traditional assets.
Deep dives
Bitcoin as a Solution to Global Debt and Debasement
Bitcoin is positioned as a solution to the challenges posed by global debt and currency debasement. The speaker emphasizes that governments borrowing against their own currency represents borrowing from the future's time and energy, highlighting the significant global debt levels exceeding 300% of GDP. The concern is the inability to pay back this borrowed time and energy, leading to potential currency debasement or system failure. Bitcoin is seen as a hedge against these risks, offering a fixed supply and an alternative free market asset for investors as traditional financial systems face uncertainties.
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