Bitcoin's Coming of Age with Dan Morehead

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“Bitcoin was born in a financial crisis, it will come of age in this one.”
— Dan Morehead

SHOW DESCRIPTION

Location: Zoom
Date: Friday, 3rd April
Project: Pantera Capital
Role: Co-Founder & CEO

Markets around the world have posted their worst quarterly results in decades with the FTSE, DJI, S&P500 and many others down over 20%. While the coronavirus pandemic is certainly the catalyst behind this drop, it may have been the pin that popped the global economy propped up by cheap credit.

With the markets falling, the forced closure of businesses and unemployment at record levels, governments around the world have taken unprecedented action with their monetary and fiscal policies.

With huge amounts of quantitative easing globally, this economic event again highlights the benefits of Bitcoin’s monetary policy. It was created in the wake of the 2008 financial crisis, born out of years of cheap credit and poor government oversight. Now nearly 12 years since its creation, we are again in a time of financial crisis. So, could this crisis lead people to a non-sovereign, global, immutable, digital, decentralised, hard money?

In this interview, I talk to Dan Morehead, a veteran investor and the co-founder & CEO of Pantera Capital. We discuss the effect of coronavirus on the economy, how the markets will recover, and Bitcoin’s coming of age.

TIMESTAMPS

00:03:45: Introductions
00:05:50: San Francisco and Covid-19
00:06:37: Background to Dan
00:08:35: Current situation with Covid-19
00:11:37: Why GDP growth is so important
00:14:05: Impact on global supply chains
00:16:46: Free markets
00:18:45: Company bailouts
00:19:48: Parallels with historical events
00:23:53: Monetary and fiscal policies
00:27:16: Risk of hyperinflation
00:35:07: Holding wealth in Bitcoin, gold and paper cash
00:40:21: Is Bitcoin decoupling from the S&P500?
00:43:36: Personal thoughts on Bitcoin
00:48:35: Influx of macro investors into Bitcoin
00:50:19: Lack of valid, coherent arguments against Bitcoin
00:52:24: Stablecoins
00:55:27: Economic recovery from Covid-19
00:58:45: Real estate and the housing market
01:00:29: Final comments

 

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SHOW NOTES

PodcastPeter McCormack