Welcome to a very special Bitcoin 2021 inspired Panel on the Bitcoin Magazine Podcast. This week Christian Keroles cohosts with Head of Research at Bitcoin Magazine Dylan LeClair a legendary panel with 2 legendary investors involved in the Bitcoin space, Cathie Wood Founder of Ark Invest & Anthony Scaramucci Founder of Skybridge. This panel was recorded on Tuesday May 25th after a historically bloody weekend of negative price action. We kick off the conversation discussing the recent volatility in Bitcoin price and how Institutional clients are reacting to it. Scaramucci strongly emphasised that institutions really have not begun to enter into the space and Wood concurred and followed up that many institutions were afraid of top ticking Bitcoin and that the recent correction was healthy and desirable from an institutional perspective.
We move on to discussing ESG and the recent negative press bitcoin has been receiving due to comments made by Elon Musk. Both Cathie and Anthony believe that the environment is important but also believe that Bitcoin’s incentive structure will continue to push it more and more towards renewables.
Lastly we dive into the macro market conditions that investors need to take into account when assessing Bitcoin’s potential market. Wood and Scaramucci take turns breaking down the implications of negatively yielding debt, the everything bubble, deflation, and intermingled counterparty risk all market participants are exposed to.
We close out with Bitcoin price predictions for the year. Please enjoy this fantastic panel with the legendary Cathie Wood and Anthony Scaramucci.