Stephan Livera Podcast SLP232 Lyn Alden - Bitcoin as Emerging Store of Value
Dec 2, 2020
Lyn Alden, an investment strategist and founder of Lyn Alden Investment Strategy, shares her insights on Bitcoin’s emerging role as a store of value. She debunks common misconceptions and compares Bitcoin to gold, emphasizing its potential as digital gold. Alden discusses the impacts of constant capital inflow and supply dynamics on Bitcoin's price. She also highlights the importance of a multi-asset perspective and addresses the sustainability of Bitcoin mining. Overall, she encourages a cautious yet optimistic approach to Bitcoin investment.
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From Early Curiosity To Buying In 2020
- Lyn Alden recounts first encountering Bitcoin in 2010–2011 and researching it seriously during 2017's run.
- She delayed allocating then but bought in April 2020 after re-evaluating risks and seeing Bitcoin de-risked.
Bitcoin As Digital Gold
- Lyn frames Bitcoin primarily as "digital gold" with a large addressable market versus gold's ~$10T market cap.
- She emphasizes store-of-value potential rather than medium-of-exchange narratives.
Energy Spent Is Security, Not Waste
- Bitcoin's energy use must be compared to other stores of value like gold, which is energy-intensive.
- Energy secures Bitcoin via hash rate and can be justified by the asset's benefits and market valuation.
