Acquired

Bitcoin


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We had to do it. After 12 years and 3,000,000x appreciation, we kick off Season 8 with the best investment of all-time and our biggest episode ever: Bitcoin. From the first bitcoin transaction of 10k for two Papa John's pizzas (worth about $350m today!!) to $40k+ BTC and maybe the moon beyond, we cover the whole crazy, improbable journey of how a single 8-page PDF document changed the world of money — and perhaps the world itself — forever. 


Sponsors:

  • WorkOS: https://bit.ly/workos25
  • Sierra: https://bit.ly/acquiredsierra
  • Sentry: https://bit.ly/acquiredsentry
  • Anthropic: https://bit.ly/acquiredclaude25


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© Copyright 2015-2025 ACQ, LLC


The Bitcoin Playbook is available on our website at https://www.acquired.fm/episodes/bitcoin


Links:

  • Satoshi's Whitepaper: https://www.bitcoin.com/bitcoin.pdf
  • Matt Huang's "Bitcoin for the Open-Minded Skeptic": https://www.paradigm.xyz/Bitcoin_For_The_Open_Minded_Skeptic.pdf
  • Nellie Bowles's "Everyone Is Getting Hilariously Rich and You’re Not":  https://www.nytimes.com/2018/01/13/style/bitcoin-millionaires.html
  • Square’s $50m investment in BTC:  https://images.ctfassets.net/2d5q1td6cyxq/5sXNrlEh2mEnTvvhgtYOm2/737bcfdc15e2a1c3cbd9b9451710ce54/Square_Inc._Bitcoin_Investment_Whitepaper.pdf

Episode Sources: 

  • Full list of episode sources available here:  https://docs.google.com/document/d/16QCDNm2qzG3Bn5h1j1KXisxL_JGT7egDx7czX9ThHLY/edit?usp=sharing 
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AcquiredBy Ben Gilbert and David Rosenthal

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