
Less Noise, More Signal
Welcome to Less Noise, More Signal. In a world saturated with news, hype, and endless chatter, finding clarity can seem like searching for a needle in a haystack. I have taken on this challenge and made it my mission to cut through the noise by amplifying the signal.Who am I? I am Pascal Hügli. With a background in political philosophy, a career in investment management, and a deep expertise in Bitcoin and digital assets, I am here to explore the ideas and connections that others do not bother to see. It’s not just about finding the right answers; it’s about asking the right questions.In each episode, I interview the most insightful thinkers in their respective fields. Every guest contributes a vital piece to the puzzle, helping us form a clearer picture of the forces shaping our world of macro, finance, and money.Listen in as my guests and I tilt the balance from noise to signal, one podcast episode at a time. Let’s cut through the clutter and focus on what truly matters. Ready to elevate your understanding? Let’s dive in.
Latest episodes

Jun 5, 2025 • 58min
Worldclass CIO from Blockstream: Bitcoin is the magic ingredient to any portfolio
Sean Bill, CIO at Blockstream and an expert in institutional investing, discusses Bitcoin's potential as a game-changer for public pension funds. He emphasizes Bitcoin's unique volatility and low correlation with traditional assets, positioning it as a valuable portfolio addition. Sean also tackles misconceptions about Bitcoin, comparing it to gold rather than a tech stock. The conversation highlights the trend of state-level Bitcoin reserves, self-sovereignty in holdings, and ways to democratize Bitcoin access for retail investors, especially in underserved regions.

May 29, 2025 • 58min
Bloomberg Senior Analyst Eric Balchunas: Bitcoin Spot ETF could have prevented the FTX collapse
In this conversation with Pascal Hügli, Eric Balchunas, a Senior ETF analyst at Bloomberg Intelligence, shares insights on Bitcoin ETFs and their potential to reshape the financial landscape. They discuss how these ETFs attract traditional investors, the rapid rise in their popularity, and the dynamics between retail and institutional holders. Balchunas also addresses regulatory challenges, performance metrics, and the implications of in-kind redemptions. The discussion highlights the broader impact of ETFs on market stability and investor trust.

May 26, 2025 • 50min
Market Strategist: The dawn of junk equities is now
Byron Gilliam, a market strategist at Blockworks with 25 years of international equities trading experience, joins Pascal Hugli to discuss the shifting landscape of cryptocurrency. They compare today's crypto market to the rise of junk bonds, addressing the democratization of capital versus commercialization risks. The conversation delves into the complexities of valuing crypto assets, focusing on social vs. legal claims, and the evolving protocols that shape their future. They also touch on the allure of speculation and the need for robust shareholder rights in the crypto realm.

53 snips
May 22, 2025 • 52min
Luke Gromen: US capital controls are inevitable! Here’s what you need to know
Luke Gromen, founder of Forest for the Trees, is a macro strategist renowned for his insights on economic shifts. In this discussion, he reveals the inevitability of U.S. capital controls and their potential impacts on the dollar's reserve status. Gromen highlights the contradictions in U.S. economic policies and suggests that Bitcoin may thrive in a future of capital restrictions. The conversation also covers the challenges of projecting military power and managing U.S. debt, hinting at an emerging new monetary order shaped by global dynamics.

May 15, 2025 • 59min
Head of Alpha Jeff Park: Bitcoin is perfectly made for financial engineering
In this conversation, Pascal Hügli and Jeff Park discuss the unique financialization potential of Bitcoin, its volatility, and the role of corporations in its adoption. They explore how Bitcoin serves as a collateral asset and the implications of indices on corporate strategies. The discussion also touches on the cultural significance of Bitcoin and its future in the global economy. The discussion also touches on the interconnectedness of Bitcoin and stablecoins, suggesting a flywheel effect that could drive further adoption and market growth.Chapters:00:00 Intro01:55 Bitcoin and Hyperfinancialization15:02 Cultural and Social Capital of Bitcoin17:59 Corporate Treasury Indices’ impact on Bitcoin Adoption23:54 Bitcoin as a Cultural Movement33:08 Public-Private Partnerships and Bitcoin Adoption36:00 Bit Bonds and Financial Innovation39:09 The Role of Tether and Stablecoins49:03 Jack Maller and the Optimistic Vision for Bitcoin51:59 The Bitcoin-Stablecoin Flywheel56:07 Tether as a Shadow Central BankFollow Jeff Park:https://x.com/dgt10011Follow me: Twitter - https://x.com/pahuegNostr - npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8Check out our sponsor Newhedge:https://newhedge.io/Newhedge is an analytics and intelligence platform for all the Bitcoin data you need! Get 50% off your subscription by using the code "Signal"! 🔥Thank you for subscribing to our channel! We’re excited to have you with us!#Bitcoin, #financialization, #volatility, #corporateadoption, #stablecoins, #socialcapital, #indices, #investmentstrategies, #cryptocurrency, #economicimpact, #Bitcoin, #stablecoins, #publicprivatepartnerships, #financialinnovation, #Tether, #BitBonds, #institutionalinvestment, #consumercontrol, #cryptocurrency, #economictrends

May 12, 2025 • 1h 4min
Fund Researcher: No matter what valuation approach you choose, ether remains overvalued
Kevin Mills, Head of Research at Triton Liquid and FJ Labs, discusses Ethereum’s valuation challenges with Pascal Hugli. They critique Ethereum's dual role as a gas token and a store of value, arguing it leads to market disconnects. Topics include cash flow analysis, institutional perspectives, and Layer 2 solutions. Mills emphasizes Ethereum’s potential as an internet-native commodity and highlights the necessity for investors to navigate the evolving crypto landscape with clarity. Their insights reveal a nuanced understanding of market dynamics and the future of digital assets.

26 snips
May 8, 2025 • 1h 35min
Financial plumbing expert Mel Mattison: Why Trump‘s economic agenda mirros MMT
Mel Mattison, a fintech executive with over 25 years of experience, joins the discussion to unravel Modern Monetary Theory (MMT) and its parallels to Trump’s economic strategies. They explore the pressing issues surrounding Social Security and Medicare, emphasizing the impending financial shortfall. The conversation touches on the risks of economic stagnation, the role of the U.S. dollar in global trade, and the potential for a transformative monetary system amidst current challenges. Mattison also highlights the intersection of philosophy and finance in shaping economic decisions.

May 5, 2025 • 54min
Global Strategist Michael Every: Our Liberal World Order is breaking down. Here’s what’s to come
In a thought-provoking conversation, global strategist Michael Every shares his insights on the unraveling liberal world order and its repercussions for finance and geopolitics. He critiques traditional macroeconomic models, advocating for a more sophisticated understanding of complexities like technology, trade, and inequality. Every highlights the disruptive potential of emerging technologies and demographic challenges, while questioning conventional wisdom about investments, the prospect of war, and the future of global trade amidst a volatile landscape.

May 1, 2025 • 48min
Tether CEO Paolo Ardoino: Banks will blow up in the next years
In this conversation, Paolo Ardoino, the CEO of Tether and Pascal Hügli, discuss the ethos of Bitcoin and Tether's journey in the cryptocurrency space. Paolo emphasizes the importance of stablecoins in emerging markets, their role as better banks compared to traditional institutions, and the potential of technology to enhance human capabilities. The discussion also touches on the challenges faced by stablecoins and their impact on global economies, particularly in regions with unstable currencies.Chapters:00:00 Intro02:01 Tether as Economic Force for good12:03 Tether's Role in Emerging Markets23:58 The Future of Technology and Human Enhancement36:00 Stablecoins vs Traditional Banking44:04 The Global Impact of StablecoinsFollow Paolo Ardoino:https://x.com/paoloardoinoFollow me: Twitter - https://x.com/pahuegNostr - npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8Check out our sponsor Newhedge: https://newhedge.io/Newhedge is an analytics and intelligence platform for all the Bitcoin data you need! Get 50% off your subscription by using the code "Signal"! 🔥Thank you for subscribing to our channel! We’re excited to have you with us!#Bitcoin, #Tether, #stablecoins, #financialtechnology, #cryptocurrency, #digitaldollar, #remittances, #banking, #innovation, #economicfreedom

Apr 28, 2025 • 56min
Prince Filip of Serbia: It is only a matter of time until Djokovic is orange-pilled
In this conversation, Pascal Hugli and Prince Filip of Serbia discuss the historical context and current sentiment towards monarchy in Serbia, the synergies between monarchy and Bitcoin, and the differences between nationalism and patriotism. Prince Filip elaborates on his royal heritage, the potential for monarchies to return in the future, and how Bitcoin influences governance and individual property rights. In this conversation, they explore the evolving landscape of Bitcoin adoption across various nation-states, the implications of political leadership on cryptocurrency, and the cultural factors influencing understanding and acceptance of Bitcoin. They discuss the importance of individual property rights, the risks associated with government intervention, and the potential for Bitcoin to stabilize economies affected by fiat currency. The conversation also highlights grassroots movements and the role of influential figures in promoting Bitcoin. Chapters: 00:00 Intro 01:58 Prince Filip's Heritage and the Serbian Monarchy 17:54 Nationalism vs. Patriotism in Serbia 24:57 Monarchy, Governance Models, and Bitcoin Synergies 27:51 Nation States and Bitcoin: A New Era 28:14 El Salvador's Vision and Leadership 29:02 Liechtenstein's Financial Landscape and Bitcoin 30:26 The Ripple Effect of U.S. Bitcoin Policies 31:53 The Political Landscape and Bitcoin's Image 32:48 Global Adoption Trends and Bitcoin's Role 34:31 The Need for Hard Money and Bitcoin's Promise 35:01 Risks of Government Intervention in Bitcoin 37:05 The Importance of Individual Property Rights 39:33 Bitcoin's Stabilizing Potential in a Fiat World 40:15 Media Influence on Bitcoin Adoption 42:04 Grassroots Movements and Bitcoin Adoption 44:03 Mining as a Path to Bitcoin Adoption 46:06 Future Predictions for Bitcoin Adoption 48:53 Cultural Perspectives on Bitcoin Understanding 52:22 The Role of Influencers in Bitcoin Adoption Follow Prince Filip: https://x.com/PrincFilip1 Follow me: Twitter - https://x.com/pahueg Nostr - npub1qhx7lnggpv64f0wt5xyjj7h90qh5ewu35pspr66sj8alc4gvcfjqqn04l8 Check out our sponsor Newhedge: https://newhedge.io/ Newhedge is an analytics and intelligence platform for all the Bitcoin data you need! Get 50% off your subscription by using the code "Signal"! 🔥 Also, you can use LNMS code to get 15% discount with Ben‘s intothecryptoverse (https://intothecryptoverse.com)! Thank you for subscribing to our channel! We’re excited to have you with us! #monarchy, #Bitcoin, #governance, #Serbia, #nationalism, #heritage, #propertyrights, #lowtimepreference, #PrinceFilip, #royalfamily, #Bitcoin, #nationstates, #ElSalvador, #Liechtenstein, #adoption, #cryptocurrency, #future, #hardmoney, #politicallandscape, #grassrootsmovements