Why Swan CEO Cory Klippsten Is Still Convinced That Bitcoin Is Headed to $1 Million - Ep. 584

Published: Dec. 19, 2023, noon

b'Take the Unchained 2023 survey!\\nSwan founder and CEO Cory Klippsten is all-in on Bitcoin. Not only does he believe that Bitcoin is poised to reach $1 million by 2030, he also thinks most alt-coins add little to no value and will eventually all go to zero. Accordingly, his company is a massive bet on the future of Bitcoin, from educating people about the world\\u2019s first crypto and convincing them to eventually self-custody, to making private equity investments in the Bitcoin ecosystem, to eventually planning to launch the first US Bitcoin-only trust company to create a safer environment for investors.\\xa0\\nHere he talks to Unchained about his crypto journey, the likely impact of spot Bitcoin ETFs on crypto adoption and prices, his extreme skepticism about Bitcoin Ordinals, when he first knew Sam Bankman-Fried was a fraud and why he thinks that crypto VCs have done a \\u201cmassive disservice\\u201d to the world.\\nShow highlights:\\n\\nWhat Swan Bitcoin is, its origin story and the future trajectory envisioned by Cory\\n\\nCory\'s journey into crypto, his journalism background and the shift to a Bitcoin-centric focus\\n\\nHow Cory is navigating discussions with hedge funds, family offices, and insurance companies in anticipation of a Bitcoin spot ETF\\n\\nSwan\\u2019s Bitcoin-only investment strategies\\n\\nHow lending and borrowing with Bitcoin is evolving\\n\\nCory\'s private equity investments within the Bitcoin ecosystem\\n\\nThe rationale behind Swan launching the first US Bitcoin-only trust company\\n\\nSwan\'s stance on financial privacy, especially after warning customers that banks might close their accounts if they used mixers\\n\\nCory\'s reasoning for advising against "trading" the Bitcoin spot ETF launch\\n\\nPredictions on when BTC might reach new all-time highs\\n\\nCory\'s perspective on Bitcoin Ordinals and their impact on the Bitcoin mempool\\n\\nThe concerns about decreasing block rewards and the future security of Bitcoin\\n\\nWhy Cory was convinced of FTX\'s fraudulent nature after reviewing the balance sheet that led to SBF\'s downfall\\n\\nWhy he thinks that VCs have done a "massive disservice\\u201d to the world\\n\\nThank you to our sponsors!\\n\\nUniswap\\n\\nPopcorn Network\\n\\nArbitrum Foundation\\n\\nGuest:\\n\\nCory Klippsten, CEO of Swan Bitcoin\\nLinks:\\nSwan Bitcoin:\\n\\nFortune: Swan deployed more than $200 million in 2023 building out institutional offerings such as Bitcoin-backed lending\\n\\n\\nProtos: Some Swan Bitcoin customers lose banking access\\n\\n\\nCoinDesk: BitGo, Swan to Form Bitcoin-Only Trust Company\\n\\n\\nWSJ: Crypto Custodian Prime Trust Files for Bankruptcy Protection\\n\\n\\nDecrypt: Swan, Coinbits Disclose Prime Trust Ties as Fallout Continues\\n\\n\\nCointelegraph: Swan Bitcoin to terminate customer accounts that use crypto-mixing services\\n\\n\\n\\nBitcoin ETFs:\\n\\nPrevious coverage on spot Bitcoin ETFs:\\n\\nHow Much Money Will Flow Into Bitcoin ETFs? Here\\u2019s One Projection\\n\\nWhy a Spot Bitcoin ETF Will Probably Launch No Later Than January 10\\n\\nWhy It Looks Like BlackRock Could Win America\\u2019s First Spot Bitcoin ETF\\n\\nThe Chopping Block: Are We Back? The \\u2018Low IQ\\u2019 Response to the Potential Spot Bitcoin ETF\\n\\nUnchained:\\xa0\\n\\nWhy the SEC May Want Cash Creation of Spot Bitcoin ETFs\\n\\nBitcoin ETFs Explained: What Are They & How Do They Work?\\n\\nBlackRock Updates Bitcoin ETF Filing to Make Access Easier for Wall Street Banks\\xa0\\n\\n\\nFTX\\nCoinDesk: Divisions in Sam Bankman-Fried\\u2019s Crypto Empire Blur on His Trading Titan Alameda\\u2019s Balance Sheet\\n\\nOrdinals:\\n\\nCory\\u2019s tweet on Ordinals\\xa0\\n\\nUnchained:\\n\\nBitcoin Ordinals-Related Token ORDI Passes $1 Billion in Market Value\\n\\nBitcoin Mempool Reaches Record Levels of Congestion\\n\\nBitcoin Ordinal NFTs Are Hot and Getting Hotter. What\\u2019s the Hype About?\\n\\nBitcoin\\u2019s BRC-20 Mania: Is It Sustainable?\\n\\nWhy All 10,000 OnChainMonkey NFTs Will Move From Ethereum to Bitcoin\\n\\nLearn more:\\n\\nWhat Are BRC-20 Tokens?\\xa0\\n\\nWhat Are ORC-20 Tokens?\\xa0\\n\\nHow to Create a Bitcoin Ordinal\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices'