Show Notes
"Bear markets are about both price and time. We've had quite a bit of pain on price, we haven't had that much time yet." Andy Edstrom, author of Why Buy Bitcoin, joins the show to discuss capital preservation and portfolio allocation during a downturn. We analyze the structural health of the market, why the "This Time is Different" narrative failed, and why institutional treasury strategies might be creating a drag on Bitcoin's spot price. Key Topics Covered: - Market Cycles: Why the cycle top hit exactly the same number of days past the halving as the prior cycle. - Portfolio Management: Why being 100% allocated to Bitcoin is not for everyone. - Valuation: Is the bottom in? Andy explains why he’d buy heavily in the $40s. - Macro outlook: Investing in Energy, Commodities, and navigating geopolitical conflict. FOLLOW: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny Andy Edstrom: https://x.com/edstromandrew THANKS TO OUR SPONSORS: LEDN: https://learn.ledn.io/wbd BITKEY: https://bitkey.world/ ANCHORWATCH: https://www.anchorwatch.com/ BLOCKWARE: https://mining.blockwaresolutions.com/wbd SWAN: https://www.swan.com/wbd CAPE: https://www.cape.co/wbd CLUB ORANGE: https://www.cluborange.org/ SUBSCRIBE TO THE PODCAST: FOUNTAIN: https://fountain.fm/show/gpascDml6iI0sM8aTOCT SPOTIFY: https://open.spotify.com/show/18Pixm6jNMATYXSO6cUnTH APPLE PODCASTS: https://podcasts.apple.com/gb/podcast/defiance/id1482455669 WEBSITE: https://www.whatbitcoindid.com/ TIMESTAMPS: 00:00:00 - Introduction 00:00:32 - Calling the Bear Market 00:02:01 - Is The Four-Year Cycle Really Dead? 00:06:52 - Liquidity Cycles And Michael Howell's Warnings 00:14:51 - Do The ETF And Saylor Change Markey Dynamics? 00:18:13 - Bitcoin Is Not Savings 00:23:02 - Bitcoin Vs Gold Market Share 00:25:27 - The Death Of The Dollar Is Exaggerated 00:32:41 - Scenario Analysis: Portfolio Positioning 00:37:06 - Is Bitcoin Stupid Cheap Yet? 00:43:50 - The Case Against Being All-In Bitcoin 00:50:09 - Variant Perception And Why Bitcoin Isn't A Secret Anymore 00:53:03 - Did Treasury Companies Hurt The Bull Market? 01:01:15 - Will Treasury Companies Trade At A Premium Again? What Bitcoin Did with Danny Knowles #Bitcoin #Finance #Money #Economics
