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Is Bitcoin a Safe Haven or 'Schmuck Insurance'?
Canada decides a CBDC is unnecessary while the Twitterati debate BTC as a safe haven and the 6-year anniversary of Mt. Gox brings reflection.
Canada decides a CBDC is unnecessary while the Twitterati debate BTC as a safe haven and the six-year anniversary of Mt. Gox brings reflection.
STORY CONTINUES BELOW
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
Bitcoin (BTC) is having a terrible, horrible, no good, very bad day. Many are using the dump - which from a timing perspective aligns with a broader market sell-off on coronavirus fears - as a way to diminish the “bitcoin as a safe haven” narrative.
In this episode, @nlw revisits that narrative and argues it is uncomfortably bunched up with the uncorrelated asset narrative, or, as Chamath Palihapitiya calls it, “schmuck insurance.”
This episode also covers:
- Central bank digital currency (CBDC) news: Canada says it doesn’t see the need right now but that could change if private cryptos get more traction, while China’s work on a digital yuan is paused due to coronavirus shutdowns.
- The six-year anniversary of Mt. Gox’s lost 750,000 BTC coming to light.
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, IHeartRadio or RSS.
Nathaniel Whittemore
NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.
