This podcast episode was inspired by the Bitcoin 2021 Conference in Miami on June 4 and 5. Be sure to set reminders for Bitcoin 2021 day one YouTube live stream just like him live broadcast of the second day now.
Listen to this episode:
Cathie Wood (Founder and CEO of Ark Invest)
Anthony Scaramucci (founder of SkyBridge Capital)
Christian Keroles (CEO of Bitcoin Magazine)
Dylan LeClair (Head of Research at Bitcoin Magazine)
Welcome to a very special Bitcoin 2021-panel inspired by the Bitcoin magazine podcast. This week, Christian Keroles co-hosted with Dylan Leclair, Head of Research at Bitcoin Magazine. They hosted a panel stacked 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 came on Tuesday, May 25, after a historically bloody weekend of negative price action. We started the conversation by discussing the recent volatility in the price of bitcoin and how institutional clients are reacting. Scaramucci strongly emphasized that institutions have only just begun to enter the space. Wood agreed, following this up with the idea that many institutions feared that bitcoin would “top off” and thus that the recent correction was healthy and desirable from an institutional perspective.
We move on to a discussion on environmental, social and corporate governance (ESG) issues and the recent negative press that 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 towards renewables.
Lastly, we dive into macro market conditions that investors should be aware of when evaluating the potential market for bitcoin. Wood and Scaramucci took turns discussing the implications of negative-yielding debt, “the everything bubble,” deflation, and the intermingled counterparty risk that all market participants are exposed to.
We close with the bitcoin price predictions for the year. Enjoy this fantastic panel with the legendary Cathie Wood and Anthony Scaramucci.
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