The Institutional Landscape for Bitcoin w/ Anthony Scaramucci & Cathie Wood

Welcome to a very special Bitcoin 2021 inspired Panel on the Bitcoin Magazine Podcast. This week Christian Keroles cohosts with Head of Research at Bitcoin Magazine Dylan LeClair a legendary panel with 2 legendary investors involved in the Bitcoin space, Cathie Wood Founder of Ark Invest & Anthony Scaramucci Founder of Skybridge. This panel was recorded on tuesday May 25th after a historically bloody weekend of negative price action. We kick off the conversation discussing the recent volatility in Bitcoin price and how Institutional clients are reacting to it. Scaramucci strongly emphasised that institutions really have not begun to enter into the space and Wood concurred and followed up that many institutions were afraid of top ticking Bitcoin and that the recent correction was healthy and desirable from an institutional perspective.

We move on to discussing ESG and the recent negative press bitcoin has been receiving due to comments made by Elon Musk. Both Cathie and Anthony believe that the environment is important but also believe that Bitcoin’s incentive structure will continue to push it more and more towards renewables.

Lastly we dive into the macro market conditions that investors need to take into account when assessing Bitcoin’s potential market. Wood and Scaramucci take turns breaking down the implications of negatively yielding debt, the everything bubble, deflation, and intermingled counterparty risk all market participants are exposed to.

We close 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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Timestamps:

0:00 - 3:34 Intro
3:34 - 5:36 Cathie Wood introduces herself and Ark Invest
5:36 - 9:05 Anthony Scaramucci introduces himself and Skybridge
9:05 - 11:33 The volatility of bitcoin
11:33 - 13:50 ESG bitcoin mining
13:50 - 15:35 The power of decentralized finance
15:35 - 20:22 What was the institutional reaction to Elon's tweets?
20:22 - 24:14 Does bitcoin deserve the environmental criticism?
24:14 - 25:55 Cathie Wood's report with Square
25:55 - 31:40 GBTC and the potential for a bitcoin ETF
31:40 - 34:35 Skybridge's bitcoin only approach
34:35 - 37:42 Ark Invest's diversification approach
37:42 - 40:03 The adoption of bitcoin is still early
40:03 - 44:14 The macroeconomic environment
44:14 - 45:22 The bull cycle
45:22 - 47:35 Have we seen the top of this bull cycle?
47:35 - 49:10 Scaramucci answers
49:10 - 49:51 Where people can learn more about Scaramucci
49:51 - 51:42 Where people learn more about Cathie Wood
51:42 - 52:23 Scaramucci's new book
52:23 - 54:09 Closing comments