The Bitcoin Frontier

What happens when corporations and nations wake up to bitcoin’s dominance? In this episode, we sit down with Matt Cole, former CalPERS portfolio manager, to discuss why every public company will eventually hold bitcoin and how the U.S. is already falling behind in the global bitcoin race. Matt shares his journey from managing $70 billion in fixed income to realizing bitcoin’s role as the ultimate savings vehicle. We explore his viral letter urging GameStop to adopt bitcoin, the concept of bitcoin as a corporate hurdle rate, and the growing pressure for businesses to rethink treasury strategies. Matt breaks down the risks and misconceptions around MicroStrategy’s leverage, how AI could reshape business moats, and why a higher hurdle rate could force a more productive economy. We also discuss why he believes regulatory risks for bitcoin have dropped to near zero and what this means for the future.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontierTIMESTAMPS:00:00 - Intro01:32 - From Wall Street to bitcoin: Matt Cole’s journey03:45 - Managing $70 billion at CalPERS and the pension crisis05:34 - Buying US treasuries and questioning the system07:22 - The moment Matt first heard about bitcoin (on a bodybuilding forum!)10:17 - Why institutions are always late to bitcoin12:19 - The fight between bitcoin and CBDCs15:36 - Why the US must buy bitcoin before it's too late16:05 - The viral letter urging GameStop to adopt bitcoin20:06 - Could GameStop become the next MicroStrategy?23:25 - Why every public company will hold bitcoin27:02 - Bitcoin as the new corporate hurdle rate35:36 - Why most businesses are losing to bitcoin’s hurdle rate39:59 - Does MicroStrategy have too much leverage?46:56 - Will bitcoin force a more productive economy?WHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Matt Cole’s Twitter: https://x.com/ColeMacro

Drew D’Agostino, founder of Crystal, an AI company with a bold bitcoin strategy, dives into his decision to move the company's treasury into bitcoin during the bear market. He discusses how this move not only saved the company but also transformed employee engagement with digital currencies. The conversation explores the synergy between AI and bitcoin, contemplating their collective potential to disrupt traditional business models and promote decentralization. Drew shares insights on integrating bitcoin into corporate culture and the future of finance.

This episode was recorded moments before the U.S. made its biggest financial decision since 1971. In this episode, we sit down with Bryan Jacoutot, attorney and bitcoin policy expert, to break down the push for a U.S. strategic bitcoin reserve. We explore the 20-year HODL mandate in Senator Lummis' bill, Trump's policy shift, and why nation-states could face bitcoin FOMO. Bryan explains how the U.S. could acquire 1 million bitcoin, the debate over funding it with gold revaluation, and the risks of waiting too long. We also discuss whether altcoins should be included, shifting banking regulations, and how a sovereign wealth fund could reshape global finance.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontierTIMESTAMPS:0:00 - Intro2:12 - The 20-year bitcoin HODL mandate in Senator Lummis' bill4:29 - Trump's surprising shift on bitcoin policy5:31 - EO vs legislative strategic reserve10:14 - How the U.S. could acquire 1 million bitcoin12:14 - The genius idea to fund bitcoin purchases with gold revaluation15:02 - How the crypto summit could influence bitcoin policy20:35 - Is the U.S. front-running the world on bitcoin?23:50 - The case against a U.S. strategic bitcoin reserve29:28 - Why the U.S. must hedge against not buying bitcoin31:58 - Sovereign wealth fund vs. strategic bitcoin reserve35:38 - Why Texas and Georgia may lead the state-level bitcoin reserves42:10 - SAB 121 repeal: A game-changer for bitcoin banking?51:51 - Why only bitcoin belongs in a U.S. strategic reserveWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Bryan Jacoutot’s Twitter: https://twitter.com/BryanJacoutot

How did a simple golf tournament turn into one of the most unique bitcoin events in the world? In this episode, we sit down with the key organizers and participants of the Max & Stacy Bitcoin Golf Invitational in El Salvador to unpack how this event came to life. We explore the surprising connection between bitcoin and golf, the challenges of organizing a major bitcoin event from scratch, and why the tournament attracted bitcoiners from around the world. The conversation covers El Salvador’s rapid transformation, its growing role in the bitcoin community, and the inspiring story of the country’s top golfer. We also discuss bitcoin’s long-term adoption, the power of a strong network, and the future of bitcoin sports events.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show with your friends and family→ Send us an email podcast@unchained.com→ Learn more about Unchained: https://unchained.com/?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Book a free call with a bitcoin expert: https://unchained.com/consultation?utm_source=youtube&utm_medium=video&utm_campaign=TBF-podcast-description→ Buy bitcoin in an IRA—sign up today and get your first year free: unchained.com/frontierTIMESTAMPS:0:00 - Intro1:12 - How the bitcoin golf tournament started3:46 - From article to international event8:20 - Why bitcoin and golf share the same mindset12:32 - The rise of bitcoin sports events18:25 - Inside the Max & Stacy Invitational22:05 - El Salvador’s top golfer and his bitcoin connection25:41 - The unique culture of bitcoiners31:10 - El Salvador’s transformation and first impressions34:09 - The best food in El Salvador39:32 - Why hash rate signals bitcoin’s strength42:18 - Executing a flawless bitcoin event45:42 - How bitcoin reshapes time and wealth50:06 - The power of taking action52:35 - The future of bitcoin sports and elite events55:00 - Final thoughts on bitcoin, El Salvador, and the tournamentWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained LinkedIn: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett (Host) on Twitter: https://twitter.com/IIICapital→ Jose Burgos (Director of Media Production) on Twitter: https://x.com/DeFBeD→ Max Keiser on Twitter: https://x.com/maxkeiser→ Stacy Herbert on Twitter: https://x.com/stacyherbert→ Bitcoin Sports Network on Twitter: https://x.com/BSN_Events→ Trey Sellers on Twitter: https://x.com/ts_hodl→ Rocky Wold on Twitter: https://x.com/rkywld

Zach Bradford, CEO of CleanSpark and a leader in Bitcoin mining, dives into the intersection of energy and Bitcoin. He discusses how stoic philosophy shapes his leadership style, enabling resilience amid market volatility. Bradford analyzes whether Bitcoin will face another dramatic price drop and highlights the implications of potential regulations on institutional adoption. He also explores how decentralized mining can enhance energy efficiency and transform global trade dynamics, asserting Bitcoin's potential as a future currency.

In this engaging discussion, Eric Semler, Chairman of Semler Scientific and founder of TCS Capital, dives into the future of Bitcoin and its potential to surpass gold. Eric shares his initial experiences with Bitcoin and highlights the hurdles corporate adoption faces. He examines how banks might evolve their custody services and the impact of global trade on Bitcoin's rise. The conversation also touches on the risks posed by quantum computing and the potential for a U.S. strategic Bitcoin reserve, emphasizing the generational shift in investment perspectives.

In this discussion, Jeff Park, Head of Alpha Strategies at Bitwise and former derivatives trader at Morgan Stanley, dives deep into bitcoin's role as a form of communication rather than just currency. He highlights how its volatility presents both risks and opportunities. Jeff elaborates on the implications of the U.S. dollar's weaknesses and discusses the potential for a Plaza Accord 2.0. He also touches on the growing corporate embrace of bitcoin, predicting that companies like Meta might join the trend. The conversation is filled with insights on bitcoin's future and its competitive edge over gold.

Radu, a big tech engineer, reveals his exciting journey from skepticism to a fervent belief in Bitcoin's potential. He presents a unique thermodynamic perspective, arguing for Bitcoin as perfected digital energy. Discussions highlight how Bitcoin anchors its value through proof of work, driving innovations in energy efficiency. Radu also explores the philosophical implications of a Bitcoin standard and its transformative power on global capital flows, nation-states, and even human consciousness. A fascinating dive into Bitcoin's future impact and technological synergy awaits!

In this discussion, Skot, an electrical engineer and the creator of Bitaxe, dives into the potential of open-source Bitcoin mining. He illustrates his journey from IoT engineering to creating accessible mining hardware. Skot debates the risks of centralization in the mining sector, arguing that decentralization is crucial for Bitcoin's future resilience. He also shares insights on integrating mining into household devices and highlights the importance of community collaboration in fostering innovation within the Bitcoin ecosystem.

Tad Smith, founder of Durable Money and former CEO of Sotheby’s and Madison Square Garden, delves into the world of Bitcoin and investment strategies. He discusses his innovative teaching methods at NYU Stern, sharing captivating case studies like Amazon. Tad sheds light on the volatile nature of Bitcoin and MicroStrategy, highlighting the challenges of asset valuation. He also explores the concept of a U.S. strategic Bitcoin reserve and emphasizes the need for careful risk assessment as Bitcoin reshapes capital allocation globally.