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Bitcoin hasn’t changed—but market sentiment, Bitcoin treasury companies, institutional adoption, and the custody landscape are shifting fast. In this episode, Jackson Mikalic explains the Bitcoin bear market, why investors are panicking, and what may drive the next phase of adoption.
We also explore Bitcoin self-custody, multi-institution custody, inheritance planning, AI agents using Bitcoin, Wall Street’s growing involvement, and whether the Trump administration delivered on its promises to the Bitcoin industry.
Jackson Mikalic is the host of The Last Trade podcast and works with Onramp Bitcoin, where he helps individuals and families think through long-term Bitcoin ownership, security, custody, and generational wealth.
This conversation is for educational purposes only and should not be considered financial advice.
Timestamps
00:00 Inflation, Bitcoin and the political rug pull
01:23 Bitcoin hasn’t changed—so what has?
02:11 Understanding Bitcoin’s latest market cycle
03:01 Leverage, liquidations and collapsing crypto assets
05:30 Is now the time to buy more Bitcoin?
06:25 Financial institutions are building during the bear market
08:09 Why Bitcoin treasury companies may be permanently impaired
10:32 Own Bitcoin—not just Bitcoin exposure
12:39 Why Onramp Bitcoin was created
14:39 Bitcoin inheritance and generational wealth
15:20 The risks of leaving Bitcoin on exchanges
16:26 When self-custody becomes too complicated
17:12 How multi-institution custody works
20:31 Proof of reserves versus proof of ownership
23:19 Why podcasts build trust for Bitcoin businesses
29:12 Does Bitcoin’s price need to keep rising?
31:30 Is there a ceiling to Bitcoin self-custody?
33:25 AI, leaked data and physical security risks
35:22 Protecting your family versus complete sovereignty
39:12 Bitcoin as money, savings and a unit of account
40:10 Why hyperbitcoinization is taking longer than expected
41:30 Could AI adopt Bitcoin before humans?
46:49 Did Trump rug pull the Bitcoin industry?
47:58 What went wrong with Bitcoin treasury companies
48:34 Wall Street’s Bitcoin infrastructure buildout
50:45 Why financial institutions will eventually bend the knee to Bitcoin
53:29 How Bitcoin changes the way you see the world
56:22 Podcasting, creativity and meaningful relationships
58:50 Where to follow Jackson and learn about Onramp Bitcoin
Connect with Us:
Jackson on LinkedIn:https://www.linkedin.com/in/jacksonmikalic/
Onramp Media Podcast: https://open.spotify.com/show/15ONfoz8s1vqyVGbg7re4H
Onramp Bitcoin: https://onrampbitcoin.com/
Kyle on X: https://x.com/thekylehuber
Kyle on Instagram: @kylehuber21
Kyle's Website: kylehuber.com
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