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The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 - Introduction & the debasement trade

05:22 - Liquidity conditions & bitcoin’s resilience

08:38 - Bitcoin cycles: halving vs liquidity

11:43 - U.S. debt explosion & nominal distortion

14:36 - Government signals & gold’s resurgence

17:34 - Shifting incentives & institutional positioning

19:44 - Global adoption: U.S., India, & Asia-Pacific

23:07 - Latin America’s adoption landscape

25:54 - Financial institutions & ETF-driven onboarding

29:00 - Bitcoin management: custody, risk, & MIC

37:18 - Security realities in Latin America

46:29 - Gold & bitcoin as sound money

01:03:34 - Market structure, stablecoins, & centralization

01:11:42 - Closing remarks, outro, & disclaimer

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