Unchained

Arthur Hayes and Will Clemente on How This Bitcoin Halving Is Different - Ep. 633

Listen Later

Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

The Bitcoin halving is just around the corner, expected to be on April 19 or April 20. 

Arthur Hayes, CIO of Maelstrom, and Will Clemente, co-founder of Reflexivity Research discuss the rise in Bitcoin prices ahead of the halving, the impact of the approval of spot Bitcoin ETFs in the US, and the potential effects of the halving on the price trajectory post-halving. They also discuss the potential impact of a new class of investors on Bitcoin's price, volatility, and decentralization. 

Learn more: Bitcoin Halving: What Is It & How Is It Determined?

Moreover, they dive into the impact of the macroeconomics, geopolitical, and demographic conditions for the crypto asset industry, the potential for L2s on Bitcoin, and their price predictions for bitcoin by year-end. 

Show highlights:
  • How the approval of spot Bitcoin ETFs altered the price trajectory of BTC before the halving
  • Whether the introduction of spot Bitcoin ETFs impacts Bitcoin's decentralization and price volatility
  • Whether this cycle could be the "last cycle" or the "supercycle"
  • Why Arthur predicts a 90% drawdown in the future and how they determine when the markets are nearing the top of the cycle
  • The effect of high inflation, the election, and the termination of the bank term funding program on Bitcoin
  • How artificial intelligence is expected to trigger a productivity boom, according to Will
  • Why Will considers Coinbase to be mispriced
  • Whether Bitcoin L2s have a future and if security budgets are a concern
  • Their views on Bitcoin Ordinals and the Runes Protocol launch
  • Why Will views DOGE as a purer commodity than ETH
  • Arthur's rebuttal to claims that Ethena could follow in Terra/Luna’s footsteps
  • Arthur's and Will’s Bitcoin price projections for the end of the year and the cycle
    • Thank you to our sponsors!
    • Polkadot
    Guest:
    • Arthur Hayes, CIO of Maelstrom.
    • Previous appearances on Unchained:
    • Arthur Hayes on Why Bitcoin Is Money and ETH Is a Shitcoin He Loves
    • Arthur Hayes, Former Ethereum Skeptic, on Why the Merge Makes Him Bullish on ETH 
    • Arthur Hayes of Bitmex on Why Countries Will Turn to Digital
    • The Chopping Block: Arthur Hayes on Why Crypto Needs to Ditch the Banks
    • How Crypto and Blockchain Technology Could Change Financial Services
    • Will Clemente, Co-founder of Reflexivity Research
    • Previous appearance on Unchained: Strong Hands Aren't Selling Bitcoin. So Who Is? 
      • Links


      This cycle

      • Naval’s tweet: “The narrative for this cycle is ‘this is the last cycle.’”
      • Unchained: 
      • Here’s Why No One Agrees Exactly When The Bitcoin Halving Will Happen
      • Bitcoin Miners Diversify Their Revenue Streams as Halving Nears
      • Heatwave by Arthur Hayes
      • Dissecting Bitcoin's “4 Year Cycle,” guest post by Will Clemente on The Pomp Letter

        Bitcoin ETFs:

        • Unchained: 
        • The Best Spot Bitcoin ETFs for Different Types of Investors
        • Who Is Buying Into Spot Bitcoin ETFs? We'll Soon Start to Get an Idea
        • Bitcoin ETFs Explained: What Are They & How Do They Work? 

          • Macroeconomic conditions

          • CNBC: Consumer prices rose 3.5% from a year ago in March, more than expected
          • FT: Investors lose hope of rapid US interest rate cuts this year

            • Block size wars

            • Bloomberg: The Block War Is Still a Sore Subject for ‘Bitcoin Jesus’ 

            Bitcoin L2s

            • Unchained: Stacks’ Muneeb Ali On Why Bitcoin Is Exciting Once Again 

            Runes

            • Decrypt: Bitcoin Runes Launch at the Halving: Here's Everything You Need to Know

            Ethena

            • Hayes’ tweet on Ethena
            • Unchained: 
            • ENA Surges 20% to New All-Time High as Ethena Rolls Out Reward Boosts
            • Ethena’s USDe Grew to $2 Billion in 7 Weeks. Is It Safe?
            • What Is Ethena's USDe Synethic Dollar?

              • Learn more about your ad choices. Visit megaphone.fm/adchoices

              ...more
              View all episodesView all episodes
              Download on the App Store
              UnchainedBy Laura Shin
              • 4.6
              • 4.6
              • 4.6
              • 4.6
              • 4.6

              4.6

              1,185 ratings

              More shows like Unchained

              View all
              We Study Billionaires - The Investor’s Podcast Network by The Investor's Podcast Network

              We Study Billionaires - The Investor’s Podcast Network

              3,394 Listeners

              The a16z Show by Andreessen Horowitz

              The a16z Show

              1,095 Listeners

              Real Vision: Finance & Investing by Real Vision Podcast Network

              Real Vision: Finance & Investing

              904 Listeners

              TFTC: A Bitcoin Podcast by Marty Bent

              TFTC: A Bitcoin Podcast

              773 Listeners

              The Breakdown by Blockworks

              The Breakdown

              739 Listeners

              The Pomp Podcast by Anthony Pompliano

              The Pomp Podcast

              1,833 Listeners

              Thinking Crypto News & Interviews by Tony Edward

              Thinking Crypto News & Interviews

              253 Listeners

              What Bitcoin Did by Danny Knowles

              What Bitcoin Did

              276 Listeners

              Bankless by Bankless

              Bankless

              1,043 Listeners

              The Wolf Of All Streets by Scott Melker

              The Wolf Of All Streets

              247 Listeners

              All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

              All-In with Chamath, Jason, Sacks & Friedberg

              10,264 Listeners

              Empire by Blockworks

              Empire

              166 Listeners

              Coin Stories with Natalie Brunell by Natalie Brunell

              Coin Stories with Natalie Brunell

              453 Listeners

              Raoul Pal: The Journey Man by Real Vision Podcast Network

              Raoul Pal: The Journey Man

              128 Listeners

              Forward Guidance by Blockworks

              Forward Guidance

              278 Listeners