Bits + Bips: The Real ‘Trump Trade’ & Why Trump's World Liberty Financial Was a Flop - Ep. 723

In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann are joined by Jeff Park of Bitwise to discuss some of the latest developments in the crypto world. They share their thoughts on a controversial ECB paper about Bitcoin, breaking down why they believe the authors missed the mark. They also dive into the rising institutional interest in spot Bitcoin ETFs and how Trump’s momentum in the polls could impact the market, especially for altcoins. Plus, the conversation explores the significance of Bitcoin ETF options and why they could have a larger impact than many expect.
Show highlights:

Why the guys believe that the ECB paper on Bitcoin is a joke

How the Minneapolis Fed report said that prohibiting Bitcoin would allow the government to operate at permanent deficits

The institutional demand for spot bitcoin ETFs

How Trump has been rising in the polls and what the Trump trade looks like at the moment

Whether polls and Poylmarket bets on the U.S. elections are manipulated

How the Fed is putting more focus on jobs than inflation

When the bitcoin ETF options might launch and which issuers will get it first

How memecoins succeed and the rise of AI memecoins like GOAT, fueled by the AI bot truth_terminal

What the $1.1 billion acquisition by Stripe of stablecoin company Bridge means

Why Donald Trump’s World Liberty Financial token sale was a flop

Sponsors:

Gemini

Stellar

Hosts:

James Seyffart, Research Analyst at Bloomberg Intelligence

Alex Kruger, Founder of Asgard

Joe McCann, Founder, CEO, and CIO of Asymmetric

Guest:

Jeff Park, Head of Alpha Strategies at Bitwise
Links

ECB paper on bitcoin: Bitcoin Appreciation Could Be ‘Fuelling The Division Of Society’

Omid Malekan’s rebuttal to the paper by Bindseil & Schaaf (of the ECB)

Minneapolis Fed report: Unique Implementation of Permanent Primary Deficits? | Federal Reserve Bank of Minneapolis

Alex Kruger’s tweet on memecoins

Alex Thorn’s tweet on bitcoin adjusted by inflation

Timestamps:

00:00 Intro

03:08 Why the ECB’s Bitcoin paper missed the mark

10:17 Political motivations behind the Minneapolis Fed report on Bitcoin

14:18 Rising institutional demand for spot Bitcoin ETFs

21:38 How Trump’s poll momentum could impact crypto

32:14 Are election polls and Polymarket bets manipulated?

43:36 Why the Fed is prioritizing jobs over inflation

52:37 When will Bitcoin ETF options launch?

1:01:08 What makes memecoins, including AI memecoins like GOAT, succeed?

1:13:00 The significance of Stripe’s $1.1 billion crypto deal

1:18:02 Why the WLFI token sale was a “flop”

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