Is the Bull Market Back? With Alex Thorn
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\\u201cDuring the bear market between 2013 and \\u201817 it was like \\u2018bitcoin is for criminals,\\u2019 now the largest asset manager on earth says it\\u2019s part of a \\u2018flight to quality\\u2019 trade; it\\u2019s truly remarkable.\\u201d
\\u2014 Alex Thorn
Alex Thorn is the Head of Firmwide Research at Galaxy. In this interview, we discuss a range of topics including Galaxy\\u2019s sponsorship of Real Bedford FC, the growing trend of Bitcoin sponsorship in sports and the current state of the hip-hop music industry. We also talk about Bitcoin, including factors influencing its price, the potential approval of a Bitcoin spot price ETF(s), the importance of Bitcoin ownership and its role as a medium of exchange.
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Full disclosure, Galaxy became the first official sponsor of Real Bedford Ladies FC in the summer, allowing them to have professional coaching and for players to get paid for the first time. This has boosted the team: they are currently top of their league having won all their matches, and this Sunday they play in the first round of the world-famous FA Cup. I talked about this and the growing trend of Bitcoin sponsorship in sports with Alex Thorn.
We also talked about Bitcoin and the potential factors influencing its price action: for example, there is a correlation between Bitcoin price and US economic policy. We discussed the impact of the upcoming halving event, for which there is growing anticipation. And we pondered the question of when to sell Bitcoin in the context of other investment opportunities; now might not be the right time to sell Bitcoin due to its potential for growth.
The podcast covered the recent SEC amendments regarding Bitcoin spot price ETFs, involving additional risk disclosures for investors, possibly indicating a shift in SEC behaviour towards Bitcoin. We touched on the potential impact of a Bitcoin spot price ETF, with increased adoption and price growth tempered by concerns about institutionalization. We also considered the impact on Grayscale\'s business model, noting that lower fees in ETFs could affect their profitability.
Finally, the discussion emphasized the importance of educating others about Bitcoin\'s value and fundamental features. Widespread understanding and adoption of the underlying principles of Bitcoin are crucial for its long-term success. Alex encourages Bitcoin enthusiasts to continue spreading awareness and discussing its values with friends, family, and potential investors.
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This episode\\u2019s sponsors:
Iris Energy - Bitcoin Mining. Done Sustainably
Bitcasino - The Future of Gaming is here
Ledger - State of the art Bitcoin hardware wallet
Wasabi Wallet - Privacy by default
Unchained - Secure your bitcoin with confidence
Orange Pill App - Stack friends who stack sats
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