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Why is gold ripping while Bitcoin lags? The team breaks it down on this week's Bitcoin Policy Hour. It's not just tariffs — it's China's deliberate strategy to build gold-based financial rails and challenge dollar dominance. Beijing injected $1T yuan this year, debasing against gold on purpose. Meanwhile, Bitcoin...

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Bitcoin Policy Institute

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39,150 次观看 • 10 个月前 •via X (Twitter)

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WATCH: The Great Bitcoin Entrenchment: 2025 Year in Review | Bitcoin Policy Hour Ep. 23 🇺🇸 Nobody puts Bitcoin in a corner. 2025 was the year of knee bending and consensus that Bitcoin is here to stay in Washington D.C. and beyond. The Bitcoin Policy Institute team delivers their 2025 BTC policy year in review and a look ahead to what's next. Feat. Zack Shapiro @Bayman1177 & Zack Cohen Stephen Pollock Chapters: 00:00 – Bitcoin’s Biggest Win of 2025 01:46 – The Strategic Bitcoin Reserve Changed Everything 02:46 – Nobody Puts Bitcoin in a Corner 06:11 – Why Bitcoin Is Treated Separately From Crypto 18:01 – Fiat Debasement and Monetary Competition 28:09 – What Went Wrong for Bitcoin in 2025 31:21 – Market Structure and Developer Rights in 2026 58:53 – What Bitcoin Policy Needs Next
1:06:14

WATCH: The Great Bitcoin Entrenchment: 2025 Year in Review | Bitcoin Policy Hour Ep. 23 🇺🇸 Nobody puts Bitcoin in a corner. 2025 was the year of knee bending and consensus that Bitcoin is here to stay in Washington D.C. and beyond. The Bitcoin Policy Institute team delivers their 2025 BTC policy year in review and a look ahead to what's next. Feat. Zack Shapiro @Bayman1177 & Zack Cohen Stephen Pollock Chapters: 00:00 – Bitcoin’s Biggest Win of 2025 01:46 – The Strategic Bitcoin Reserve Changed Everything 02:46 – Nobody Puts Bitcoin in a Corner 06:11 – Why Bitcoin Is Treated Separately From Crypto 18:01 – Fiat Debasement and Monetary Competition 28:09 – What Went Wrong for Bitcoin in 2025 31:21 – Market Structure and Developer Rights in 2026 58:53 – What Bitcoin Policy Needs Next

Bitcoin Magazine

20,875 次观看 • 8 个月前

When does Washington move fast? When something becomes a national security priority. On this week’s Bitcoin Policy Hour, the Bitcoin Policy Institute team breaks down why quantum technology isn’t just another tech buzzword — it’s the next geopolitical battleground. The U.S. is investing directly in quantum firms because whoever wins this race will shape the future of encryption and information security. If an adversary develops quantum capabilities first, decades of encrypted government and financial data could be exposed overnight — including Bitcoin and every sensitive communications channel the U.S. depends on. The takeaway: Quantum must be treated with the same strategic urgency as AI, rare earths, and energy independence, and Bitcoin should be integrated into America’s broader resilience strategy. 🎥 Watch here: cc: Zack Shapiro Zack Cohen Bayman11771
2:15

When does Washington move fast? When something becomes a national security priority. On this week’s Bitcoin Policy Hour, the Bitcoin Policy Institute team breaks down why quantum technology isn’t just another tech buzzword — it’s the next geopolitical battleground. The U.S. is investing directly in quantum firms because whoever wins this race will shape the future of encryption and information security. If an adversary develops quantum capabilities first, decades of encrypted government and financial data could be exposed overnight — including Bitcoin and every sensitive communications channel the U.S. depends on. The takeaway: Quantum must be treated with the same strategic urgency as AI, rare earths, and energy independence, and Bitcoin should be integrated into America’s broader resilience strategy. 🎥 Watch here: cc: Zack Shapiro Zack Cohen Bayman11771

Bitcoin Policy Institute

32,904 次观看 • 9 个月前

WATCH - Debasement vs Redollarization: Gold, Tether & Bitcoin Shaping the New Monetary Order | Bitcoin Policy Hour Ep. 26 🇺🇸 Bitcoin Policy Institute explains why Tether is launching a U.S. stablecoin, how Coinbase wields influence in Congress, and why the debasement trade is primed to hard money assets (gold, silver, bitcoin) higher. Feat. Bitcoin Policy Institute's Zack Shapiro Zack Cohen Bayman11771 Chapters: 03:15 – Tether’s GENIUS-Compliant U.S. Stablecoin Explained 07:30 – Is Tether’s U.S. Launch a Political Hedge? 11:45 – Stablecoins, Circle, and Global Liquidity 15:30 – SEC–CFTC Harmonization and Regulatory Power 20:10 – Market Structure, BRCA, and Developer Protections 26:00 – Section 1960 and the National Security Debate 33:20 – Why Coinbase Has So Much Influence in Congress 41:00 – Stablecoin Yield, Banks, and Political Fatigue 47:00 – Gold, Silver, Debasement, and Bitcoin’s Moment
53:27

WATCH - Debasement vs Redollarization: Gold, Tether & Bitcoin Shaping the New Monetary Order | Bitcoin Policy Hour Ep. 26 🇺🇸 Bitcoin Policy Institute explains why Tether is launching a U.S. stablecoin, how Coinbase wields influence in Congress, and why the debasement trade is primed to hard money assets (gold, silver, bitcoin) higher. Feat. Bitcoin Policy Institute's Zack Shapiro Zack Cohen Bayman11771 Chapters: 03:15 – Tether’s GENIUS-Compliant U.S. Stablecoin Explained 07:30 – Is Tether’s U.S. Launch a Political Hedge? 11:45 – Stablecoins, Circle, and Global Liquidity 15:30 – SEC–CFTC Harmonization and Regulatory Power 20:10 – Market Structure, BRCA, and Developer Protections 26:00 – Section 1960 and the National Security Debate 33:20 – Why Coinbase Has So Much Influence in Congress 41:00 – Stablecoin Yield, Banks, and Political Fatigue 47:00 – Gold, Silver, Debasement, and Bitcoin’s Moment

Bitcoin Magazine

26,481 次观看 • 7 个月前

WATCH — Even the Government Gets Robbed: Why the US Needs Bitcoin Custody Standards | Bitcoin Policy Hour Ep 44 On this episode of the Bitcoin Policy Hour, the team breaks down China's Kimi K3 AI model and the US response, the bipartisan backlash against data centers, and the ARMA bill that would give Treasury real Bitcoin custody standards. Feat. Zack Cohen Zack Shapiro Bayman11771 Chapters: 04:02 How the US Might Curb Chinese Models 10:04 "FINRA for AI" & the Open-Source Debate 16:25 Why China Went Open Source 19:52 Xi Jinping's Global AI Governance Play 27:31 Robots, Health Care & the Industrial AI Layer 30:04 America's Bipartisan Data Center Backlash 39:38 AI's PR Problem 42:38 Mastering AI Prompting 51:10 ARMA, the Bitcoin Reserve Bill & DC Departures
58:13

WATCH — Even the Government Gets Robbed: Why the US Needs Bitcoin Custody Standards | Bitcoin Policy Hour Ep 44 On this episode of the Bitcoin Policy Hour, the team breaks down China's Kimi K3 AI model and the US response, the bipartisan backlash against data centers, and the ARMA bill that would give Treasury real Bitcoin custody standards. Feat. Zack Cohen Zack Shapiro Bayman11771 Chapters: 04:02 How the US Might Curb Chinese Models 10:04 "FINRA for AI" & the Open-Source Debate 16:25 Why China Went Open Source 19:52 Xi Jinping's Global AI Governance Play 27:31 Robots, Health Care & the Industrial AI Layer 30:04 America's Bipartisan Data Center Backlash 39:38 AI's PR Problem 42:38 Mastering AI Prompting 51:10 ARMA, the Bitcoin Reserve Bill & DC Departures

Bitcoin Magazine

12,978 次观看 • 27 天前

Gold since April 2025: +60% Bitcoin since April 2025: -30% Gold since its January high: still near all-time highs. Bitcoin since its October high: -48%. 5 consecutive red months for Bitcoin. A 0.55 correlation with the S&P 500 as of March 1st. And people still call it "digital gold." Let me explain why that framing will cost you money: When the Middle East escalated, gold surged above $5,300. Bitcoin dropped. When equities sold off, gold held. Bitcoin sold with them. When uncertainty spiked, gold hit all-time highs. Bitcoin bled. This isn't an accident. It's the nature of WHAT these assets actually are. Gold is an asset that isn't somebody else's liability. It's not correlated with the general level of risk assets. It doesn't shift identities depending on what the market needs it to be that week. Bitcoin does. Sometimes it's digital gold. Sometimes it's correlated to NASDAQ. Sometimes it follows the dollar. Sometimes it follows liquidity. It depends on whatever narrative is convenient at the time. And narrative always follows price. That's the way it works. When Bitcoin was ripping to $126,000 in October, everyone called it a store of value. Now that it's trading at $66,000 with 5 red months, NOBODY talks about the digital gold thesis anymore. Gold doesn't have that problem. Central banks bought 863 tonnes of gold in 2025. Accumulating at the fastest pace in decades. China is buying like crazy for months. Nobody's buying Bitcoin for their sovereign reserves. Nobody's rewriting the gold thesis every quarter. I said this on back in April last year when Bitcoin was reclaiming $90,000 and everyone wanted me to be bullish on crypto: "If NASDAQ takes a header, if risk assets take another leg down, you want to bet Bitcoin goes up or down? I'd vote down." NASDAQ took a header. Risk assets took a leg down. Bitcoin went down. Gold went up. It's not complicated. Gold is insurance against irresponsible policies from central bankers and government officials. It protects you against the falling dollar. It's been doing this for 5,000 years. Bitcoin is a speculative instrument that acts like protection only when everything else is going up too. And in the environment we're heading into (geopolitical risk at generational highs, the dollar under pressure, central banks still buying, the Fed boxed in on rates) you want the real thing. Not the imitation. GOLD SURVIVED EMPIRES BITCOIN SURVIVED TWITTER
1:25

Gold since April 2025: +60% Bitcoin since April 2025: -30% Gold since its January high: still near all-time highs. Bitcoin since its October high: -48%. 5 consecutive red months for Bitcoin. A 0.55 correlation with the S&P 500 as of March 1st. And people still call it "digital gold." Let me explain why that framing will cost you money: When the Middle East escalated, gold surged above $5,300. Bitcoin dropped. When equities sold off, gold held. Bitcoin sold with them. When uncertainty spiked, gold hit all-time highs. Bitcoin bled. This isn't an accident. It's the nature of WHAT these assets actually are. Gold is an asset that isn't somebody else's liability. It's not correlated with the general level of risk assets. It doesn't shift identities depending on what the market needs it to be that week. Bitcoin does. Sometimes it's digital gold. Sometimes it's correlated to NASDAQ. Sometimes it follows the dollar. Sometimes it follows liquidity. It depends on whatever narrative is convenient at the time. And narrative always follows price. That's the way it works. When Bitcoin was ripping to $126,000 in October, everyone called it a store of value. Now that it's trading at $66,000 with 5 red months, NOBODY talks about the digital gold thesis anymore. Gold doesn't have that problem. Central banks bought 863 tonnes of gold in 2025. Accumulating at the fastest pace in decades. China is buying like crazy for months. Nobody's buying Bitcoin for their sovereign reserves. Nobody's rewriting the gold thesis every quarter. I said this on back in April last year when Bitcoin was reclaiming $90,000 and everyone wanted me to be bullish on crypto: "If NASDAQ takes a header, if risk assets take another leg down, you want to bet Bitcoin goes up or down? I'd vote down." NASDAQ took a header. Risk assets took a leg down. Bitcoin went down. Gold went up. It's not complicated. Gold is insurance against irresponsible policies from central bankers and government officials. It protects you against the falling dollar. It's been doing this for 5,000 years. Bitcoin is a speculative instrument that acts like protection only when everything else is going up too. And in the environment we're heading into (geopolitical risk at generational highs, the dollar under pressure, central banks still buying, the Fed boxed in on rates) you want the real thing. Not the imitation. GOLD SURVIVED EMPIRES BITCOIN SURVIVED TWITTER

George Noble

11,852 次观看 • 6 个月前

🇺🇸LEGISLATORS ARE TRYING TO "LOCK IN" A STRATEGIC BITCOIN RESERVE Rep. Begich's message is simple: if America wants a strong dollar, it needs a strong reserve policy. The plan? Stockpile 5% of ALL $BTC (matching the scale of America’s gold reserves) and fund it with crypto seized from Operation Economic Fury, NOT taxpayer money.
1:48

🇺🇸LEGISLATORS ARE TRYING TO "LOCK IN" A STRATEGIC BITCOIN RESERVE Rep. Begich's message is simple: if America wants a strong dollar, it needs a strong reserve policy. The plan? Stockpile 5% of ALL $BTC (matching the scale of America’s gold reserves) and fund it with crypto seized from Operation Economic Fury, NOT taxpayer money.

CryptosRus

14,010 次观看 • 3 个月前

The Bitcoin for America Act, introduced by Rep. Warren Davidson, is simply good policy. During last week's Bitcoin Policy Hour, the BPI team broke down why: It’s not just about stacking — it’s about stopping future admins from "rugging" the reserve. The bill codifies the SBR, but the real alpha is the uncapped capital gains exemption. Pay taxes in BTC, reset your cost basis without the hit, and lock it up for 20 years. It’s the Federal Government finally admitting Bitcoin is money. WATCH:
3:53

The Bitcoin for America Act, introduced by Rep. Warren Davidson, is simply good policy. During last week's Bitcoin Policy Hour, the BPI team broke down why: It’s not just about stacking — it’s about stopping future admins from "rugging" the reserve. The bill codifies the SBR, but the real alpha is the uncapped capital gains exemption. Pay taxes in BTC, reset your cost basis without the hit, and lock it up for 20 years. It’s the Federal Government finally admitting Bitcoin is money. WATCH:

Bitcoin Policy Institute

26,093 次观看 • 9 个月前

WATCH: The 3.8M Bitcoin Lawsuit Could Set a Dangerous Precedent | Bitcoin Policy Hour Ep 39 An anonymous plaintiff is asking a New York court to declare 3.8M "lost" Bitcoin — including coins tied to Satoshi — as abandoned property. On the latest Bitcoin Policy Hour, we break down why the legal theory is weak but the precedent could be dangerous. 🧵👇 Feat. Bitcoin Policy Institute's Zack Shapiro Bayman11771 Zack Cohen Chapters: 2:32: Inside the BRCA 8:08: Why Sheriffs Are Fighting the Blockchain Regulatory Certainty Act 13:22: BRCA's Real Senate Battle 16:36: Begich's American Reserve Modernization Act 23:55: Midterms, Fair Shake, and the Al Green Upset 30:21: The New York Lawsuit Over Satoshi-Era Bitcoin 36:29: Opus 4.8 Launches 41:05: AI's ROI Reckoning 50:54: Sam Lyman's China AI Influence Report
1:00:17

WATCH: The 3.8M Bitcoin Lawsuit Could Set a Dangerous Precedent | Bitcoin Policy Hour Ep 39 An anonymous plaintiff is asking a New York court to declare 3.8M "lost" Bitcoin — including coins tied to Satoshi — as abandoned property. On the latest Bitcoin Policy Hour, we break down why the legal theory is weak but the precedent could be dangerous. 🧵👇 Feat. Bitcoin Policy Institute's Zack Shapiro Bayman11771 Zack Cohen Chapters: 2:32: Inside the BRCA 8:08: Why Sheriffs Are Fighting the Blockchain Regulatory Certainty Act 13:22: BRCA's Real Senate Battle 16:36: Begich's American Reserve Modernization Act 23:55: Midterms, Fair Shake, and the Al Green Upset 30:21: The New York Lawsuit Over Satoshi-Era Bitcoin 36:29: Opus 4.8 Launches 41:05: AI's ROI Reckoning 50:54: Sam Lyman's China AI Influence Report

Bitcoin Magazine

28,378 次观看 • 3 个月前

Bitcoin or Gold? Some investors are betting on both. I sat down with Mauricio Di Bartolomeo on gold coming to Ledn, BTC loan market’s path to $1T, and why he's not buying the $40k Bitcoin crash everyone's predicting. Full show streaming now. Let us know what you think in the comments. TIMESTAMPS: 00:00 The Exclusive: Physical Gold Is Officially Coming to Ledn 3:02 Why Ledn Added Gold and What Tokenization Unlocks 7:00 Inside Tether's Swiss Vaults: How XAUt Gold Works 7:58 Can You Trust a Digital Gold Receipt? 9:44 Bitcoin Retests $60K: Why This Drop Feels Different 13:39 Natalie's Top-Up Alert: What a Margin Call Really Feels Like 17:33 The Ideological Battle: Why Bitcoin Purists Reject Credit 23:55 "Is Lending Immoral?" 26:49 The Bitcoin OGs Who Quietly Borrow Against Their Stack 30:50 Ledn's S&P-Rated Bond and the Path to a $1 Trillion Market 36:19 Venezuela: Apaches Over Caracas the Night Maduro Fell 40:55 Inside Venezuela's Illegal Gold Mines and the Crackdown #gold #BTC
46:57

Bitcoin or Gold? Some investors are betting on both. I sat down with Mauricio Di Bartolomeo on gold coming to Ledn, BTC loan market’s path to $1T, and why he's not buying the $40k Bitcoin crash everyone's predicting. Full show streaming now. Let us know what you think in the comments. TIMESTAMPS: 00:00 The Exclusive: Physical Gold Is Officially Coming to Ledn 3:02 Why Ledn Added Gold and What Tokenization Unlocks 7:00 Inside Tether's Swiss Vaults: How XAUt Gold Works 7:58 Can You Trust a Digital Gold Receipt? 9:44 Bitcoin Retests $60K: Why This Drop Feels Different 13:39 Natalie's Top-Up Alert: What a Margin Call Really Feels Like 17:33 The Ideological Battle: Why Bitcoin Purists Reject Credit 23:55 "Is Lending Immoral?" 26:49 The Bitcoin OGs Who Quietly Borrow Against Their Stack 30:50 Ledn's S&P-Rated Bond and the Path to a $1 Trillion Market 36:19 Venezuela: Apaches Over Caracas the Night Maduro Fell 40:55 Inside Venezuela's Illegal Gold Mines and the Crackdown #gold #BTC

Natalie Brunell ⚡️

102,310 次观看 • 2 个月前

Cathie Wood Cathie Wood of ARK Invest: Bitcoin was declining relative to gold. It now appears to be bottoming. Gold itself is declining. She is staying bullish. The Bitcoin-to-gold ratio chart she presented on July 2 shows the ratio has held at a floor while gold moved lower. Wood reads this as the start of a resumption of the "volatile but broad uptrend" visible on the long-term chart. The macro context behind the call: in a deflationary tech regime with falling rates, Bitcoin benefits as a risk-on digital store of value. The rotation from gold to Bitcoin is consistent with the broader ARK thesis on financial innovation. Michael Saylor Michael Saylor has made the structural case for Bitcoin over gold more forcefully than anyone - argues Bitcoin's fixed supply and digital properties make it the superior store of value over any multi-year horizon. Bitcoin, gold, and the deflationary thesis: Source: ARK Invest In the Know -
0:31

Cathie Wood Cathie Wood of ARK Invest: Bitcoin was declining relative to gold. It now appears to be bottoming. Gold itself is declining. She is staying bullish. The Bitcoin-to-gold ratio chart she presented on July 2 shows the ratio has held at a floor while gold moved lower. Wood reads this as the start of a resumption of the "volatile but broad uptrend" visible on the long-term chart. The macro context behind the call: in a deflationary tech regime with falling rates, Bitcoin benefits as a risk-on digital store of value. The rotation from gold to Bitcoin is consistent with the broader ARK thesis on financial innovation. Michael Saylor Michael Saylor has made the structural case for Bitcoin over gold more forcefully than anyone - argues Bitcoin's fixed supply and digital properties make it the superior store of value over any multi-year horizon. Bitcoin, gold, and the deflationary thesis: Source: ARK Invest In the Know -

Podcast Alpha

17,024 次观看 • 1 个月前

"Bitcoin is oversold. It's been artificially lumped in with software stocks for no good reason." Lyn Alden (Lyn Alden) on why the crash hit Bitcoin harder than it should have: "The washout from the Treasury company mNAVs was painful. The quantum FUD had to be explored. The four-year cycle had to be tested. But I think the majority of the pain is behind us." "Gold went from undervalued to fairly valued fast, the market rightsized it. It's not a bubble, but it's somewhat euphoric right now." "Sentiment on Bitcoin is unfairly negative, to say the least." "Gun to my head, if I had to bet Bitcoin or gold over the next two to three years, I'd bet Bitcoin. I own both. I've always owned both. But if I had to pick, it's Bitcoin." Translation: the crash lumped Bitcoin in with the AI software selloff it has nothing to do with. Gold ran its move and is now near fair value. Bitcoin got sold on sentiment, not fundamentals, which is exactly the setup that reverses when risk appetite returns.
5:56

"Bitcoin is oversold. It's been artificially lumped in with software stocks for no good reason." Lyn Alden (Lyn Alden) on why the crash hit Bitcoin harder than it should have: "The washout from the Treasury company mNAVs was painful. The quantum FUD had to be explored. The four-year cycle had to be tested. But I think the majority of the pain is behind us." "Gold went from undervalued to fairly valued fast, the market rightsized it. It's not a bubble, but it's somewhat euphoric right now." "Sentiment on Bitcoin is unfairly negative, to say the least." "Gun to my head, if I had to bet Bitcoin or gold over the next two to three years, I'd bet Bitcoin. I own both. I've always owned both. But if I had to pick, it's Bitcoin." Translation: the crash lumped Bitcoin in with the AI software selloff it has nothing to do with. Gold ran its move and is now near fair value. Bitcoin got sold on sentiment, not fundamentals, which is exactly the setup that reverses when risk appetite returns.

Michaël van de Poppe

127,555 次观看 • 2 个月前

BITCOIN'S "DIGITAL GOLD" NARRATIVE JUST FAILED ITS BIGGEST TEST While gold surged past $5,000 and silver hit record after record... Bitcoin dropped 6% in 2025. Silver is up 138%. Bitcoin? Down 30% from its October high. The "digital gold" thesis is collapsing. But here's what most people are getting wrong about WHY... My good friend Michael Howell at CrossBorder Capital/ GLIndexes nailed it: This isn't a "Great Debasement" trade. If it were, Bitcoin would be celebrating and bonds would be in freefall. Neither is happening. THE REAL DRIVER: CHINA The People's Bank of China has added $1.1T to Chinese money markets over the past year. And they'll likely do the same again this year. This aggressive monetary debasement is pushing Chinese residents into gold as an inflation hedge. You see, Chinese residents are big gold buyers but NOT big Bitcoin buyers. Why? The PBoC banned cryptocurrencies onshore. So when China prints money, it flows into gold, not crypto. And because the Yuan is stable against the dollar (capital controls and trade surplus), changes in the Yuan gold price transmit virtually 1:1 into the US dollar gold price. Bitcoin gets none of this flow. THE LIQUIDITY PROBLEM Michael's research shows something critical: Cryptocurrencies are the most liquidity-sensitive assets on the planet. And Global Liquidity is starting to slow. During the last liquidity downswing from late 2021 through 2022, Bitcoin fell from $65k to under $20k. In the next upswing, it gained over $100k. Now liquidity is peaking again. Bond term premia have stopped rising. Bitcoin is flatlining. The correlation between Global Liquidity and Bitcoin is ironclad. And the cycle is turning against crypto. THE OCTOBER CRASH EXPOSED EVERYTHING On October 10, 2025, Trump's 100% China tariff threat triggered the largest single-day liquidation in crypto history. $19B wiped out in 24 hours. 1.6M accounts blown up. Bitcoin plunged from $126,000 to below $105,000. Order book depth collapsed 98%. This was a stress test And Bitcoin failed. THE "HEDGE" THAT ISN'T During recent geopolitical tensions over Greenland: Gold rose 8.6%. Bitcoin dropped 6.6%. NYDIG found that Bitcoin behaves like an "ATM" during crises. Investors sell it first to raise cash. That's not a hedge. That's a liquidity source. Meanwhile, central banks are buying gold at record levels. They're not touching Bitcoin. THE MINING DEATH SPIRAL Hashprice - the key profitability metric - fell to $35-36 per PH/s/day in November. Below breakeven for most operations. 2025 was the "harshest margin environment of all time." ROI on new mining rigs? 1,000 days. In 2017? Same equipment paid for itself in 3-6 months. AI data centers are outbidding miners for cheap electricity. The squeeze is structural. WHERE THIS IS HEADING Paolo Ardoino, Tether's CEO, said it himself last week: "There are foreign countries buying a lot of gold, and we believe these countries will soon launch tokenized versions of gold as a competitive currency to the US dollar." Gold is being repositioned as foundational collateral beneath a fragmented digital monetary landscape. The BRICS are building gold-backed currencies to accelerate dedollarization. And ironically, the US will use gold-backed stablecoins to DEFEND the dollar's dominance. Gold, forever the bane of the dollar's existence, is being resurrected as its savior. A new monetary age is coming. And Bitcoin isn't part of it. MY TAKE My good friend Michael is right: Monetary debasement is a long-term investment strategy, not a short-term trade. But Bitcoin's cycle is no longer a simple 4 year halving cycle based on supply. It's a complex demand cycle driven by Global Liquidity. And that liquidity is peaking. When Chinese liquidity floods into gold while Bitcoin sits banned on the mainland... When Global Liquidity peaks and crypto flatlines... When the asset fails every stress test thrown at it... There's a serious problem.
1:06

BITCOIN'S "DIGITAL GOLD" NARRATIVE JUST FAILED ITS BIGGEST TEST While gold surged past $5,000 and silver hit record after record... Bitcoin dropped 6% in 2025. Silver is up 138%. Bitcoin? Down 30% from its October high. The "digital gold" thesis is collapsing. But here's what most people are getting wrong about WHY... My good friend Michael Howell at CrossBorder Capital/ GLIndexes nailed it: This isn't a "Great Debasement" trade. If it were, Bitcoin would be celebrating and bonds would be in freefall. Neither is happening. THE REAL DRIVER: CHINA The People's Bank of China has added $1.1T to Chinese money markets over the past year. And they'll likely do the same again this year. This aggressive monetary debasement is pushing Chinese residents into gold as an inflation hedge. You see, Chinese residents are big gold buyers but NOT big Bitcoin buyers. Why? The PBoC banned cryptocurrencies onshore. So when China prints money, it flows into gold, not crypto. And because the Yuan is stable against the dollar (capital controls and trade surplus), changes in the Yuan gold price transmit virtually 1:1 into the US dollar gold price. Bitcoin gets none of this flow. THE LIQUIDITY PROBLEM Michael's research shows something critical: Cryptocurrencies are the most liquidity-sensitive assets on the planet. And Global Liquidity is starting to slow. During the last liquidity downswing from late 2021 through 2022, Bitcoin fell from $65k to under $20k. In the next upswing, it gained over $100k. Now liquidity is peaking again. Bond term premia have stopped rising. Bitcoin is flatlining. The correlation between Global Liquidity and Bitcoin is ironclad. And the cycle is turning against crypto. THE OCTOBER CRASH EXPOSED EVERYTHING On October 10, 2025, Trump's 100% China tariff threat triggered the largest single-day liquidation in crypto history. $19B wiped out in 24 hours. 1.6M accounts blown up. Bitcoin plunged from $126,000 to below $105,000. Order book depth collapsed 98%. This was a stress test And Bitcoin failed. THE "HEDGE" THAT ISN'T During recent geopolitical tensions over Greenland: Gold rose 8.6%. Bitcoin dropped 6.6%. NYDIG found that Bitcoin behaves like an "ATM" during crises. Investors sell it first to raise cash. That's not a hedge. That's a liquidity source. Meanwhile, central banks are buying gold at record levels. They're not touching Bitcoin. THE MINING DEATH SPIRAL Hashprice - the key profitability metric - fell to $35-36 per PH/s/day in November. Below breakeven for most operations. 2025 was the "harshest margin environment of all time." ROI on new mining rigs? 1,000 days. In 2017? Same equipment paid for itself in 3-6 months. AI data centers are outbidding miners for cheap electricity. The squeeze is structural. WHERE THIS IS HEADING Paolo Ardoino, Tether's CEO, said it himself last week: "There are foreign countries buying a lot of gold, and we believe these countries will soon launch tokenized versions of gold as a competitive currency to the US dollar." Gold is being repositioned as foundational collateral beneath a fragmented digital monetary landscape. The BRICS are building gold-backed currencies to accelerate dedollarization. And ironically, the US will use gold-backed stablecoins to DEFEND the dollar's dominance. Gold, forever the bane of the dollar's existence, is being resurrected as its savior. A new monetary age is coming. And Bitcoin isn't part of it. MY TAKE My good friend Michael is right: Monetary debasement is a long-term investment strategy, not a short-term trade. But Bitcoin's cycle is no longer a simple 4 year halving cycle based on supply. It's a complex demand cycle driven by Global Liquidity. And that liquidity is peaking. When Chinese liquidity floods into gold while Bitcoin sits banned on the mainland... When Global Liquidity peaks and crypto flatlines... When the asset fails every stress test thrown at it... There's a serious problem.

George Noble

133,893 次观看 • 7 个月前

WATCH: Is Google's Quantum Breakthrough a Threat to Bitcoin? | Bitcoin Policy Hour Ep 33 🇺🇸 A new Google whitepaper has accelerated the timeline for Q-Day, potentially putting Bitcoin wallet security at risk to quantum computing as early as 2029. The Bitcoin Policy Institute team breaks down the quantum threat, geopolitical strategy, and why "not your keys, not your coins" has never been more real. Feat. @bitconpolicy 's Zack Cohen Zack Shapiro Bayman11771 Sam Lyman Luke Danielian Chapters: 4:45 — Google's Quantum Paper 9:16 — Why Q-Day Is Closer Than We Thought 12:48 — Qubits Explained: Logical vs Physical 18:12 — Vulnerable Bitcoin Addresses 20:15 — Stakeholder Map 26:21 — Not Your Keys Not Your Coins 30:14 — Migration Windows and Coinbase Rewards 37:34 — Could Gov'ts Hijack Bitcoin's Quantum Fix? 46:04 — Government's Role in Quantum Defense 51:05 — AI Tools Update
1:02:33

WATCH: Is Google's Quantum Breakthrough a Threat to Bitcoin? | Bitcoin Policy Hour Ep 33 🇺🇸 A new Google whitepaper has accelerated the timeline for Q-Day, potentially putting Bitcoin wallet security at risk to quantum computing as early as 2029. The Bitcoin Policy Institute team breaks down the quantum threat, geopolitical strategy, and why "not your keys, not your coins" has never been more real. Feat. @bitconpolicy 's Zack Cohen Zack Shapiro Bayman11771 Sam Lyman Luke Danielian Chapters: 4:45 — Google's Quantum Paper 9:16 — Why Q-Day Is Closer Than We Thought 12:48 — Qubits Explained: Logical vs Physical 18:12 — Vulnerable Bitcoin Addresses 20:15 — Stakeholder Map 26:21 — Not Your Keys Not Your Coins 30:14 — Migration Windows and Coinbase Rewards 37:34 — Could Gov'ts Hijack Bitcoin's Quantum Fix? 46:04 — Government's Role in Quantum Defense 51:05 — AI Tools Update

Bitcoin Magazine

35,497 次观看 • 4 个月前

A gold analyst just made the best case for bitcoin I've heard all year. By accident. His whole thesis: "the beauty of gold is it's not used for anything." Send gold to $1,000,000 and nobody gets hurt. Send corn to $1,000 a bushel and people starve. Send oil there and the economy collapses. A reserve asset has to be useless, because money that doubles as something people need to consume punishes everyone the moment it goes up. He's right. He just stopped one step short. Gold still has day jobs. Jewelry, electronics, dentistry. Bitcoin is used for even less. It was built to be money and nothing else. No industrial demand fighting its monetary demand, nothing to melt down, no factory waiting on the supply. Gold is useless enough to be great money. Bitcoin is useless at everything except being money. Same principle, taken to its logical end. The purest reserve asset isn't the one with the fewest uses. It's the one with none.
2:13

A gold analyst just made the best case for bitcoin I've heard all year. By accident. His whole thesis: "the beauty of gold is it's not used for anything." Send gold to $1,000,000 and nobody gets hurt. Send corn to $1,000 a bushel and people starve. Send oil there and the economy collapses. A reserve asset has to be useless, because money that doubles as something people need to consume punishes everyone the moment it goes up. He's right. He just stopped one step short. Gold still has day jobs. Jewelry, electronics, dentistry. Bitcoin is used for even less. It was built to be money and nothing else. No industrial demand fighting its monetary demand, nothing to melt down, no factory waiting on the supply. Gold is useless enough to be great money. Bitcoin is useless at everything except being money. Same principle, taken to its logical end. The purest reserve asset isn't the one with the fewest uses. It's the one with none.

Bitcoin Well

112,597 次观看 • 1 个月前

WATCH: 🇺🇸 Why Agentic Payments are BULLISH for Bitcoin Tax Exemption | Bitcoin Policy Hour Ep 32 On the agent-based economy as a key lever for bitcoin de minimis tax-exemption, and inside the Capitol Hill meeting with BPI. Coinbase, River and and Block to advocate for bitcoin as money. Feat. Bitcoin Policy Institute Zack Cohen Zack Shapiro Bayman11771 Chapters: 0:00 — AI Agents & Agentic Commerce Moving the Needle on Bitcoin Tax 00:30 — Ken Egan's Sonnet vs Opus Controversy 2:48 — How to Use AI Effectively: Prompts, Skills & the Secret Sauce 8:34 — Using AI for School, Work & the Permanent Underclass 16:26 — BPI's Capitol Hill Briefing on Bitcoin De Minimis with Coinbase, Block & River 25:30 — US-Iran Tensions: Peace Deals, Strait of Hormuz & Military Deployments 34:52 — CoinCenter's Llewellyn Privacy Case Dismissed 47:21 — Kentucky Hardware Wallet Backdoor Legislation Walked Down 51:54 — Senate Stablecoin Yield Language & Banks vs Coinbase
1:00:54

WATCH: 🇺🇸 Why Agentic Payments are BULLISH for Bitcoin Tax Exemption | Bitcoin Policy Hour Ep 32 On the agent-based economy as a key lever for bitcoin de minimis tax-exemption, and inside the Capitol Hill meeting with BPI. Coinbase, River and and Block to advocate for bitcoin as money. Feat. Bitcoin Policy Institute Zack Cohen Zack Shapiro Bayman11771 Chapters: 0:00 — AI Agents & Agentic Commerce Moving the Needle on Bitcoin Tax 00:30 — Ken Egan's Sonnet vs Opus Controversy 2:48 — How to Use AI Effectively: Prompts, Skills & the Secret Sauce 8:34 — Using AI for School, Work & the Permanent Underclass 16:26 — BPI's Capitol Hill Briefing on Bitcoin De Minimis with Coinbase, Block & River 25:30 — US-Iran Tensions: Peace Deals, Strait of Hormuz & Military Deployments 34:52 — CoinCenter's Llewellyn Privacy Case Dismissed 47:21 — Kentucky Hardware Wallet Backdoor Legislation Walked Down 51:54 — Senate Stablecoin Yield Language & Banks vs Coinbase

Bitcoin Magazine

145,450 次观看 • 5 个月前

WATCH - The War on Bitcoin Wallets: Why CLARITY is Make or Break | Bitcoin Policy Hour Ep. 17 🇺🇸 On the CLARITY Act, saveourwallets, defending the right to self-custody, and why financial privacy is on the chopping block in Congress. Feat. Bitcoin Policy Institute's Zack Shapiro, Zack Cohen & special guest Kyle Olney Chapters: 00:00 - Introduction: Context on Bitcoin Policy and AI 01:26 - Save Our Wallets: Background and Purpose 07:04 - Current Status and Challenges of Market Structure Legislation 14:38 - Regulatory Rollback Risks 18:07 - Implications of the Market Structure Bill for Bitcoin 20:03 - The Decisive Moment: Schrodinger's Bill? 20:52 - Why Developer Protections Matter for Bitcoin's Future 23:05 - Legal and Philosophical Challenges of Regulating Infrastructure 36:35 - How To: Win the Political Game 39:22 - Reaching the Middle Ground in the Senate 46:10 - Bitcoin's Success and Government Pushback 48:15 - The Fight for Freedom Money 50:44 - Final Call to Action - SAVE OUR WALLETS
52:47

WATCH - The War on Bitcoin Wallets: Why CLARITY is Make or Break | Bitcoin Policy Hour Ep. 17 🇺🇸 On the CLARITY Act, saveourwallets, defending the right to self-custody, and why financial privacy is on the chopping block in Congress. Feat. Bitcoin Policy Institute's Zack Shapiro, Zack Cohen & special guest Kyle Olney Chapters: 00:00 - Introduction: Context on Bitcoin Policy and AI 01:26 - Save Our Wallets: Background and Purpose 07:04 - Current Status and Challenges of Market Structure Legislation 14:38 - Regulatory Rollback Risks 18:07 - Implications of the Market Structure Bill for Bitcoin 20:03 - The Decisive Moment: Schrodinger's Bill? 20:52 - Why Developer Protections Matter for Bitcoin's Future 23:05 - Legal and Philosophical Challenges of Regulating Infrastructure 36:35 - How To: Win the Political Game 39:22 - Reaching the Middle Ground in the Senate 46:10 - Bitcoin's Success and Government Pushback 48:15 - The Fight for Freedom Money 50:44 - Final Call to Action - SAVE OUR WALLETS

Bitcoin Magazine

36,796 次观看 • 11 个月前

WATCH: Why China's "Thousand Model War" is a Risk to US National Security 🤖 China's AI warfare strategy isn't one super-model — it's a thousand open-source ones. The Bitcoin Policy Institute team breaks down China's AI playbook, OpenAI's government-gated rollout, and what's real vs. marketing in the AI safety debate. Feat. Zack Shapiro Zack Cohen Bayman11771 Chapters: 00:48 - Freedom Tech DC 05:43 - Palantir & Nvidia's Sovereign AI 09:27 - The Case Against Frontier Lab Dependence 13:52 - Zack Shapiro's AI Absorption Thesis 20:35 - Why AI Will Break the Billable Hour 28:14 - 40% of AI Adopters Are Seeing Real Benefits 30:09 - Will AI Agents Read Everything for Us? 36:43 - Government Gatekeeping & China's AI 50:50 - A CLARITY Act Breakthrough
1:00:08

WATCH: Why China's "Thousand Model War" is a Risk to US National Security 🤖 China's AI warfare strategy isn't one super-model — it's a thousand open-source ones. The Bitcoin Policy Institute team breaks down China's AI playbook, OpenAI's government-gated rollout, and what's real vs. marketing in the AI safety debate. Feat. Zack Shapiro Zack Cohen Bayman11771 Chapters: 00:48 - Freedom Tech DC 05:43 - Palantir & Nvidia's Sovereign AI 09:27 - The Case Against Frontier Lab Dependence 13:52 - Zack Shapiro's AI Absorption Thesis 20:35 - Why AI Will Break the Billable Hour 28:14 - 40% of AI Adopters Are Seeing Real Benefits 30:09 - Will AI Agents Read Everything for Us? 36:43 - Government Gatekeeping & China's AI 50:50 - A CLARITY Act Breakthrough

Bitcoin Magazine

19,271 次观看 • 1 个月前

Bitcoin is money AND digital gold. The two are not mutually exclusive. For Michael Saylor - it's the purest form of digital credit. For David Marcus - it's the payment rails of the future. "No one cares what humans think about how people need to Bitcoin because it's an unopinionated, code-based money platform." The Lightspark founder is forging ahead with building Bitcoin-based payment rails, while Saylor and Strategy are doubling down on Bitcoin-backed financial products. "I'm really grateful that Michael is really focused on the store of value use case, and he can do that, and I can be the one focused on bringing utility to Bitcoin. Both things will actually help one another to make Bitcoin more relevant to many more people and that's the beauty of building on an open network," Marcus told Robert Baggs and me on our latest Chain Reaction show. Marcus has been keenly focused on abstracting complexity away from payments using Bitcoin payments infrastructure with the launch of Lightspark Grid. "It's like Bitcoin as a network being used to move all kinds of other money, whether it's stablecoin or fiat at the edges, and you don't even understand that you're using Bitcoin. For instance, if you're a SoFi client in the US, and you want to send money to Europe or India, Brazil or Mexico, you send dollars and the other person on the other side receives Mexican peso, you have no clue you're using Bitcoin. And it's like magical TCP/IP for money between payment systems in the world." Bitcoin infrastructure works. Like most widely adopted technologies, the average person has no idea what's going on under the hood. That is the future that takes Bitcoin global. And it's being built in real-time.
4:50

Bitcoin is money AND digital gold. The two are not mutually exclusive. For Michael Saylor - it's the purest form of digital credit. For David Marcus - it's the payment rails of the future. "No one cares what humans think about how people need to Bitcoin because it's an unopinionated, code-based money platform." The Lightspark founder is forging ahead with building Bitcoin-based payment rails, while Saylor and Strategy are doubling down on Bitcoin-backed financial products. "I'm really grateful that Michael is really focused on the store of value use case, and he can do that, and I can be the one focused on bringing utility to Bitcoin. Both things will actually help one another to make Bitcoin more relevant to many more people and that's the beauty of building on an open network," Marcus told Robert Baggs and me on our latest Chain Reaction show. Marcus has been keenly focused on abstracting complexity away from payments using Bitcoin payments infrastructure with the launch of Lightspark Grid. "It's like Bitcoin as a network being used to move all kinds of other money, whether it's stablecoin or fiat at the edges, and you don't even understand that you're using Bitcoin. For instance, if you're a SoFi client in the US, and you want to send money to Europe or India, Brazil or Mexico, you send dollars and the other person on the other side receives Mexican peso, you have no clue you're using Bitcoin. And it's like magical TCP/IP for money between payment systems in the world." Bitcoin infrastructure works. Like most widely adopted technologies, the average person has no idea what's going on under the hood. That is the future that takes Bitcoin global. And it's being built in real-time.

Gareth Jenkinson

19,172 次观看 • 7 个月前