In this Bitcoin Magazine Podcast episode, Cathie Wood and Anthony Scaramucci discuss the current macroeconomic backdrop of Bitcoin.
This podcast episode was inspired by the Bitcoin 2021 conference in Miami on June 4 and 5. Make sure to set reminders for the Bitcoin 2021 day one YouTube live stream as well as the day two live stream now.
Listen To This Episode:
Panel:
Cathie Wood (Founder and CEO of Ark Invest)
Anthony Scaramucci (Founder of SkyBridge Capital)
Moderators:
Christian Keroles (Managing Director of Bitcoin Magazine)
Dylan LeClair (Head of Research at Bitcoin Magazine)
Welcome to a very special Bitcoin 2021-inspired panel on the Bitcoin Magazine Podcast. This week, Christian Keroles co-hosted with Dylan Leclair, Head of Research at Bitcoin Magazine. They hosted a stacked panel with two legendary investors in the Bitcoin space: Cathie Wood, founder and CEO of Ark Invest, and Anthony Scaramucci, Founder of Skybridge Capital. This episode was recorded on Tuesday, May 25 after a historically bloody weekend of negative price action. We kicked off the conversation discussing the recent volatility in bitcoin’s price and how institutional clients are reacting to it. Scaramucci strongly emphasised that institutions have only just begun to enter into the space. Wood concurred, following this with the idea that many institutions were afraid of “top ticking” bitcoin and thus that the recent correction was healthy and desirable from an institutional perspective.
We moved on to a discussion of environmental, social and corporate governance (ESG) themes and the recent negative press bitcoin received due to comments made by Elon Musk. Both Wood and Scaramucci believe that the environment is important but also that Bitcoin’s incentive structure will continue to push it further toward renewables.
Lastly, we dove into the macro market conditions that investors need to take into account when assessing bitcoin’s potential market. Wood and Scaramucci took turns breaking down the implications of negative yield debt, “the everything bubble”, deflation and intermingled counterparty risk that all market participants are exposed to.
We closed out with bitcoin price predictions for the year. Please enjoy this fantastic panel with the legendary Cathie Wood and Anthony Scaramucci.
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