Supply Shock

Pete Rizzo, a veteran Bitcoin journalist and President of BitcoinTreasuries.net, discusses the evolving narrative of Bitcoin from grassroots to corporate treasuries. He explains how figures like Michael Saylor have reframed Bitcoin for institutions, emphasizing its significance for corporate balance sheets. Rizzo explores the tension between individual investors and corporate adoption, the future of Bitcoin payments, and what trends might define the next decade, including potential Bitcoin-backed equities as alternatives to altcoins.

John Carvalho, CEO of Synonym and a seasoned Bitcoin developer, dives deep into Bitcoin's governance and scaling challenges. He argues that many current debates distract from Bitcoin's fundamental constraints. Carvalho emphasizes the difficulty of future changes and views soft-fork proposals as increasingly centralized. He critiques the misuse of Bitcoin's governance for moral arguments and asserts that the creators can't dictate its purpose. The discussion also covers Bitcoin's blockspace as an emerging commodity and the potential limitations of scaling with layers like Lightning.

Nolan Bauerle, known as Count BTC and a prominent Bitcoin commentator, dives into Bitcoin's evolving narrative influenced by politics and Wall Street. He dissects the impact of ETFs on mainstream adoption and why 2026 could mark a turning point for Bitcoin. Bauerle connects the dots between nation-states and Bitcoin’s future, touching on the potential for corporate holdings to soar while cautioning against manipulation by financial giants. The discussion also explores Bitcoin's integration with AI and the emergence of 'Bitcoin cities' as new economic hubs.

Rob Hamilton, CEO of AnchorWatch and Bitcoin custody expert, dives into the transformative shifts in Bitcoin driven by institutions and politics. He discusses the rise of treasury firms and the cultural divide between regulated and privacy-focused Bitcoin sectors. The conversation explores AI's impact on mining, Bitcoin's positioning against gold, and the unpredictable trajectory towards 2026. Rob also touches on the potential for forks and economic incentives, alongside predictions for market dynamics as institutional interest evolves.

In this engaging discussion, Blockspace Baron, a crypto entrepreneur and collector, advocates for viewing Bitcoin block space as a scarce financial asset. He shares insights on his large-scale purchases of blockspace tokens, asserting their potential to increase in value as transaction fees rise. The conversation explores the economics of inscriptions, the future market for blockspace, and the implications of treating tokens as a currency. With a focus on innovative collecting and the evolving crypto landscape, Blockspace Baron's unique perspective challenges traditional views.

Natalie Brunell, a journalist and host of the Coin Stories podcast, dives into how Bitcoin offers solutions to our broken financial system. She highlights Bitcoin's apolitical nature, asserting it can unite people across divides. Natalie shares her insights on simplifying Bitcoin for newcomers and expresses the importance of financial self-custody. With her immigrant background, she reflects on how Bitcoin reshapes the American dream. She also discusses the ongoing evolution of Bitcoin, emphasizing its potential for widespread adoption and understanding.

Jameson Lopp, a Bitcoin engineer and privacy advocate, dives into Bitcoin's muted 2025 cycle and the shift of influence from retail to institutional investors. He discusses the evolving landscape of Bitcoin development and governance, highlighting the importance of ongoing innovation. Lopp examines Zcash's resurgence and shares insights on privacy advancements. He warns of risks heading into 2026, emphasizing that complacency could threaten Bitcoin's future, while advocating for continued progress in scalability and privacy improvements.

Jimmy, co-founder of Smashtoshi and creator of the History of Bitcoin project, dives into his multi-year mission to document Bitcoin’s origins. He shares anecdotes from early community pioneers and highlights how social movements shaped the cryptocurrency’s narrative. The conversation touches on the potential risks posed by institutional involvement overshadowing Bitcoin’s foundational ideals. Jimmy also emphasizes the importance of self-custody in navigating today’s evolving financial landscape, while optimistically pondering Bitcoin's long-term future.

John Fakhoury, CEO of Stacking Sats, dives into the evolving landscape of Bitcoin as a global macro asset. He discusses how major institutions like Vanguard and BlackRock are reshaping market dynamics, compelling others to embrace Bitcoin. Fakhoury examines the harsh realities facing corporate treasury firms and the potential paths for survival. He forecasts a quieter but impactful future for Bitcoin, underscoring the importance of passive investment flows and the role of stablecoins in infrastructure. A thought-provoking conversation on Bitcoin's next chapter!

Alexandre Laizet, Founder and CEO of Capital B, sheds light on the current Bitcoin landscape. He discusses why Bitcoin's price lags behind institutional interest, driven by short-term trading behaviors. Laizet highlights the unique role of Bitcoin treasury companies in fostering adoption and shares insights on Wall Street's perception of Bitcoin as not yet money. He anticipates significant catalysts ahead and underscores the importance of patience for investors eyeing 2026 and beyond.