We Study Billionaires - The Investor’s Podcast Network BTC059: Bitcoin is Freedom w/ Nic Carter (Bitcoin Podcast)
Jan 5, 2022
Nic Carter, a venture capitalist and prominent voice in the Bitcoin space, shares his insights on the fundamental health of Bitcoin amidst global economic challenges. He discusses the impact of political dynamics on digital assets, highlighting developments in Myanmar and the Chivo Wallet in El Salvador. Nic delves into the centralization of Bitcoin mining, critiques Ethereum’s evolving identity, and addresses recent comments from Jack Dorsey on Web 3.0. Additionally, he explores the implications of inflation and the shifting landscape of financial markets.
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Macro Factors and Bitcoin's Price
- Bitcoin's sideways movement is likely due to macroeconomic factors, particularly concerns about rate hikes.
- Increased institutionalization and government adoption are positive long-term trends.
CPI and Inflation Measurement
- The Consumer Price Index (CPI) methodology, while potentially understating inflation, isn't as flawed as some critics suggest.
- A single basket of goods can't accurately represent inflation, which is a localized phenomenon.
Supply Chain Issues
- COVID served as a convenient scapegoat, but the stressed supply chain is primarily due to a massive demand shock from fiscal stimulus.
- The government's spending, financed by the Federal Reserve, led to increased demand for goods, straining the supply chain.