The Jack Mallers Show Bitcoin: The End Of The Beginning
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Nov 4, 2025 Jack Mallers dives into the shifting landscape of Bitcoin, exploring how recent ETF adoption is marking its transition from infancy. He discusses market sentiments, analyzing who is selling and why, while highlighting a $9 billion sell event that shows market maturation. The conversation also touches on the macroeconomic factors influencing Bitcoin's future, including potential Fed policy shifts. Additionally, there are insights into AI's impact on jobs and the importance of Bitcoin in a world stricken by fiat debasement and societal unrest.
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Bitcoin At The End Of The Beginning
- Jack Mallers calls this phase 'the end of the beginning' for Bitcoin adoption and distribution.
- He argues post-ETF, corporate, and nation-state adoption marks a new era where being 'early' ends.
An IPO-Style Distribution Phase
- Mallers describes current market weakness as a normal liquidity distribution after an 'IPO moment' for Bitcoin.
- Early holders are taking profits now because institutional onramps finally exist to absorb large sales.
Debanked Despite Being A Client
- Jack recounts being debanked by JPMorgan Chase despite being a longtime private client.
- He uses this to illustrate how early Bitcoiners faced harassment and why many hid their holdings.