Un Podcast Sobre Bitcoin El ratio que explica la descorrelación entre cobre y bitcoin
Jan 20, 2026
The discussion kicks off with a fascinating look at the correlation between copper and Bitcoin, highlighting insights from industry experts. A dive into the structural vs. cyclical demand reveals insights on copper's critical role driven by factors like China and defense needs. Alberto tackles supply constraints with data on dwindling copper discoveries. The podcast also contrasts historical trends, illustrating why Bitcoin and copper diverged recently. Ultimately, it posits that Bitcoin's trajectory hinges more on real industrial activity than on copper dynamics.
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Copper’s Rally Is Structural, Not Cyclical
- Copper's recent rally reflects structural scarcity driven by new, non-cyclical demands like data centers, AI and defense.
- Alberto Mera cites Chamath and Zeitbringer to argue copper's rise is existential, not just cyclical industrial growth.
Demand Meets Supply Shortfalls
- Financial Times and analysts link rising copper demand to green grids, AI compute and hidden military consumption.
- Alberto Mera highlights supply constraints from aging mines and few recent discoveries as a major price driver.
Copper May Not Repeat Gas's Rebound
- Historical commodity shocks (e.g., gas) show demand can collapse and production can surge, reversing price spikes.
- Alberto Mera warns copper differs: past copper booms (2005) led to a permanently higher price band, not a short spike.