YouSaid · the spoken record

Andrew Edstrom

lines on the record: 57
first: 2024-06-05
most recent: 2024-06-05
sittings or episodes: 1
sources: podcast

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“That's right. Scarce assets is in the on ramp feed along with other great content that we're producing. And yeah, Edstrom Andrew is my Twitter handle”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“No way. But the inverse of that, remember, dear listeners, it's now a what, two and a half or three trillion dollar market cap company. And the tree does not grow to the sky if you're a company. But if you're a monetary protocol”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It is the one asset that has outperformed Bitcoin. I found this earlier this year. It's like the one thing basically that's outstripped Bitcoin's performance.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Risk adjusted a thing. Yeah, a thing probably each of us said years ago was. On a risk adjusted basis, I haven't found a better investment opportunity than Bitcoin. And on a risk adjusted basis, I still haven't found a better investment opportunity.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The investable universe of companies that meet your criteria, President. Can only grow. It can only go up. There's only going to be more and more names, more and more tickers, more and more companies.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, exactly. But that's another way to frame this total potential of, oh, it's the unit of account, but there are other valuable and productive assets. And yes, someday Preston will put in a bid on NVIDIA stock or whatever other stock that generates cash flows. But the valuation may not be at whatever 50,000 two-year forward earnings. Oh, you are.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And there's, yeah, and there's the other reality here, another way to frame it is there is money in the system and what percent of the total value is the money and money plus the credit, right? So the pyramiding of the credit in the banking system on top of the base money. So yes, the world is full of productive assets that are worth something. They should be worth more than the monetary asset that doesn't generate cash flows. When that monetary asset reaches its valuation potential, which is happening before our very eyes over a period of years and years and years, and some days I wake up and think it's, I can't believe how quickly it's happening. In other days, I can't believe how slowly because it's so obvious what's going on.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It turns out some people would like to. Many would like to. So there is a difference between Forever Laura and Infinity divided by $21 million. Well, let's just take it.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Sorry, I think there's a reason what we're trying to say here is there's a reason that Preston launched the Bitcoin Fundamentals podcast, not the gold fundamentals podcast or the fixed income bonds treasuries fundamentals podcast”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because equities are going to. Yeah, exactly. I think order of magnitude, I think of 50%. And it easily could be more than that. Yeah, exactly.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Exactly. Well, this time was not the case. It was well attended. People were listening very carefully. They were asking really good questions. And I think there is more than ever a realization that Bitcoin taking a bite out of that giant piece of the pie real estate is also likely to happen.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Only thing I'd add to there besides is if that wasn't enough of a mic drop is, oh yeah, don't forget the largest box on that graphic, which is real estate. And I was giving a chat to the local office of Berkshire Hathaway Realty about a month ago. And that conversation to your average realtor would have been outlandish and or offensive until very recently.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“My firm, my wealth management firm, we had never owned what I call hard money assets, right? We'd never owned gold for clients ever, right? It was a pet rock that didn't generate cash flows. But we started to figure out what was going on with the bigger picture macro. And so we bought gold for the first time. And then, of course, Bitcoin raised its hand, so to speak. It had shown up earlier, of course, but I found it when I found it some years ago. And so that for my clients has been taking share out of gold. So it's a little bit the, you know, the Pac-Man eating the Pac-Man, eating the Pac-Man, where the ultimate eater of everything, of course, is Bitcoin, but the intermediate eater of bonds is gold.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah, absolutely. So first I want to say I love this analysis, Jesse. You know, I did my own version of this analysis in 2019 when I was writing why by Bitcoin. And of course, you improved on it, Jesse, by putting it into beautiful graphical format. So I love this. I love this version of it. And yeah, one of the ways, first of all, one of the ways I pitch it to clients, I can't remember where I got us got this, but basically Bitcoin is the new gold and gold is the new bonds, right? So it's like the bonds, as Jesse so eloquently pointed out, are going to lose you money in terms of real purchasing power over the long run. And so gold is better than that and gold is taking share. By the way, the way I implemented that as a practitioner for my clients was first back in 2016 in the then 30 year history or almost 30 year history.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, my pleasure. Pleasure cast as strongly as we possibly could. There's no one else I would rather have started it with than you. And it was a lot of fun.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Not all those coins are going to make it to their wives and kids if something happens to them. And so kind of makes sense to have part of the stack in multi-institution custody. And I think it makes sense for managed wealth as well. And then, of course, as part of that effort, we, you know, we've been having some fun. Me and Jesse run the scarce assets podcast. We had an amazing launch of that show because, of course, episode one was you, Preston. It was a lot of fun. We had Jeff Booth and we've had Lynn Alden and Pierre and Morgan Richard and Alex Gladstein and VJ and Breedlove and a bunch. And it's just been a blast. So I just want to thank you for helping us.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, got to believe more like 20. So that's one thing. And then, yeah, just, you know, in terms of my role at on-ramp, it's been my mission for a while. I did it for Swan, you know, doing it for helping out with on-ramp as well, to just try and divert some small percentage of buying power for Bitcoin, you know, away from the Roach Motel paper Bitcoin structures like the ETFs and into actual coins. And if it's going to be into actual coins, you know, that means that those coins can be withdrawn to self-custody in the future. You know, I suspect that U.S. citizens, but not exclusively U.S. citizens, people, Bitcoiners that have a significant stack, you know, a lot of them have their roll your own ninja self-custody set up. But they're a little bit worried that”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“No, no, no. That's well said. I was just going to say a couple things. First of all, yeah, the Rench Tech issue is big. By the way, remember when you could buy a wrench for $5? Remember when it really was a $5 wrench?”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Just wrapping it all together. So, I've seen Wildebeast being born on the Serengeti and stand up within minutes. And so I highly recommend people take a trip. You could see two things. You could see this miracle of nature we're describing in action. And also you could go see them mining deployment that Marathon is doing.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And part of the reason we could even scratch the surface of understanding is because. We've evolved those big brains and congrats on your kid's big brain, Jesse. And of course, the downside, by the way, is that's how you end up with 41 hours of labor. A big brain does not an easy delivery make.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Extremely dark. That was the book that I read it in 2016. That was the book that put me into my first bout of depression that I've experienced related to AI.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Which gets us just back to the first principle. I mean, it's Andreas Antonopoulos, or it's like Internet of Money. It's like, yes, Bitcoin is special and amazing. Oh, but also it's just the digitization of everything and it's just kind of joining the rest of the pack. For some reason, people think of Bitcoin as this strange animal. They just can't get their heads around it. And oh yeah, no, it's just, you know, it's just the internet implementation of money.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, the data center managers, people in the data center management business are going to be pretty busy for the next few years. It also reminds me of, I remember when the news came out, it was like a decade ago that Google had first implemented AI systems to optimize energy usage in their own data sites, right? In their own data centers, they cut energy usage by like 30% by implementing their own machine learning algorithms. So it's going to be the algos that are doing the optimization work, right, to shift capacity around the world between these different load bearing facilities. It's going to be wild to see.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That latency like we just talked about. And so as the large language models develop and as more of the overall work is inference and as that data center capacity has to move toward the user, you get a shift in the mix of how these But clearly there's sort of a competitive dynamic here, but there may be a complementarity aspect as well. You know, if you can build a data site where, oh, you've got some curtailment, you got to keep the machine learning algos running all the time, but maybe you have some swing curtailment capacity on the Bitcoin mining side. So sorry. That was a long-winded answer, but those are some of the issues that I see.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“On the Bitcoin side. So now enter machine learning and AI and specifically LLMs and foundation models. So now there's huge incremental demand for good data site capacity. So there's a competition between Bitcoin miners and guys running machine learning models for similar sites. But then it's further complicated by the following. To train models to do training Actually, you kind of can do that remotely. And I'm no expert on the requirements here, but like you could have a data center in, I don't know, Morocco, the desert of Morocco where you're doing, you're training these models. But then when you're doing inference, you're actually serving customers like, you know, your chat GPT and you're asking it a question or to answer the question, now you have to reduce.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Right, you can't be serving up Netflix videos from Svalbard or New Zealand to the United States, right? Rural Kenya. Good example. Okay. However”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Yeah, yeah. So historically, the Bitcoin mining business was you need a site, you need an energy source, you need the physical ASICs, and you need internet interconnect, basically. And when I say the site, I mean actually you have to build the structure. You need cooling. You need all the things that keep the machines cool and running all the time. Well, that's also true of regular way data centers for the most part, although regular way data centers have a higher requirement in terms of being close to where the data that they crunch is going to be used. So that's the amazing thing, of course, about Bitcoin mining. You can put it anywhere on Earth. You got an internet connection. You can put a Bitcoin mine. That doesn't work quite as well. If you're serving up Netflix video,”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I will say another thing, though, that really interests me with respect to NVIDIA is this other dynamic that's now playing out in the mining space is besides sovereigns getting involved, now there's so much more competition for rack space, right?”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Buying bonds, often buying duration at just the right time when things fall apart So I'm not going to tell you that he's a bad stock trader. And it sounds like he missed this one. And he may be kicking himself. But on the other hand, he himself would admit that he's made most of his money trading FX, trading bonds, trading rates, especially with stuff going sideways.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“By his own admission Stand Drucken Miller talks about in interviews, he talks about historically he has made most of his money on the bearside. He has made most of his money trading over decades by”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“There's going to be a big opportunity here for mining consultants. I'm talking about traditional metals mining, like oil and gas drilling. U.S. businesses and European companies, some of the biggest companies in the world, have been in the business of figuring out how to safely profit on the extraction of resources in foreign countries, developing countries for as long as there's been history, at least since colonial period and including the more recent century and decades. And so yeah, it's a tricky business. There are different ways of doing business and opening doors for big Western foreign companies in African and Asian countries. And yeah, it's an unusual art. It's partly a dark art, but those who have been doing it successfully to extract normal traditional commodities out of developing countries.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
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2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
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2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Even if those facilities are offshore. So I think it's sort of a mixed bag. It sort of surprises me a little bit that US domiciled miners would have a big role in those foreign domiciled deployments of mining capacity, but we'll see what happens.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They have a whole fleet of ASICs, and the more jurisdictions they can operate in and move between it and widen their revenue base, it's great for them. I wonder a little bit, though, from the perspective of this foreign sovereign, from the foreign government, because really like, yes, they want coins. And so the miner can help them acquire coins, but also what they really want is a way to surely and safely transact outside the dollar system. So the strategic element there, I think, is really important for sovereigns. And I don't know that you get that by hiring a US domiciled mining company, right, to do your deployment because the long arm of the US government and the whole jurisdictional apparatus, I think still owns you.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So I have mixed feelings and thoughts on this. So, one perspective, I completely agree with you, countries need expertise to help them deploy mining capacity and also they need, as you say, flexibility. And it makes tremendous sense from the corporate perspective, from Mara's perspective.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They don't want to Exactly. Exactly. So imagine you're a bank CEO. And you're looking at your congressman, you're like, guys, you're delivering all this business to Coinbase. SOB 21 prevents me from making my rake. Oh, and you want me to take down all this worthless treasury debt? You're out of your mind. You got to let me play this crypto game again. This is from the perspective of the bank CEO. So I think that's another angle.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Person, I agree with you completely on all fronts, and I'll throw one more in there, which is just taking the perspective of the banks. You mentioned stablecoins like yes, somebody's got to hoover up all this treasury debt.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That would be a pretty interesting outcome. I have to admit that's not the scenario that I had thought about in advance, but that'd be pretty wild.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The Hinman speech. I don't know, 2018, I want to say Bill Hinman was then senior at the SEC, I think head of corporate finance enforcement. And I think he presented this notion that the whiskey barrel that you make the whiskey in is not, that's a security, or you can sell that as a security, but once you've made the whiskey, then it's the commodity. Okay. So that's sort of the notion with Ethereum. And another notion with Ethereum is, yeah, if there's someone paying you a yield from your activity, is that therefore a security? I don't know the answer, though, as to whether the validator can withhold that yield and therefore it's like a commodity from the perspective of the ETF holder, the investor, because there's no yield. But the issuer gets to scalp that. I mean, that would.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“This is an interesting question. I have not read the prospectus. I think it's the legal question is the interesting one, though, because the notion, which is sort of a novel legal concept, I mean, it comes from the...”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I think it was literally the same day, maybe that it passed in the house, either House or Senate. And then you saw poll movements. So it appeared that Trump was gaining significantly on Biden. And it seems to be that the administration realized that anti-crypto is bad politics. And so we had the largest sea change in the attitude of politicians to crypto assets and Bitcoin, frankly, that we've seen, I think, in the entire history of the space in the last 15 years. So basically it was politics and it was electioneering and Trump figured out that this is something you want to be on the right side of, not the wrong side. And then Dems figured out in short order that that was also the way they wanted to go and that they had an opportunity to lose the election.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But the majority of politicians had either been ignoring it or fighting it for so long. And then it appears that Biden was going to, well, there was this proposal to reverse Saab 121. Saab 121 was this dumb rule that basically kept banks out of Bitcoin and crypto. That's the short version. And then the House decided to pass an action to reverse that. And the president, forgive me if I get the order wrong, by the way, the order of events, said he was going to veto it. Biden said he was going to veto it. But the Senate passed it anyway. And then also candidate for re-election Donald Trump talked positively about crypto assets”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I have a theory too. So the short answer is a bunch of politicians on both sides of the aisle found a way to remove their craniums from their rectums. And what I mean is let's call crypto. I have to talk about crypto, not just Bitcoin.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“This version of Ethereum, ETF Ethereum, the kind that doesn't pay the yield, imagine it's like buying a US Treasury. It's like buying an ETF that has US Treasury securities except for the U.S. Treasury Securities, don't pay the coupon.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“I'm going to push back. I'm going to push back a little bit though. I mean, not having yield matters a lot. I mean, no analogy is perfect, but like imagine.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And I think that's actually a really good fact relatively speaking for Bitcoin price performance this year for the Bitcoin ETF because I don't think that an Ethereum ETF product that does not deliver yield to the client or to the investor is nearly as compelling as one with yield. And yeah, it's just kind of, it feels like a much worse substitute for Bitcoin. It already would have been a bad substitute, but it's even worse.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Been thinking about scenario analysis and I'd been thinking about okay we had the wave of adoption of the ETFs that Jesse just described and now we're in this cooling off period and we've been waiting for wealth managers financial advisors to do their due diligence and start hitting the buy button more frequently in the coming months and then I was thinking oh my okay now we got this ethereum ETF is this going to confuse them right now I got two now I can got two things I can press the buy button on for my clients but as it turns out and correct me if I'm wrong it appears that what got approved don't got yield don't got staking”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But people didn't think it was going to happen soon. And then we had this wild about face in the political landscape. And maybe I won't dig into the weeds on that just yet other than to say I feel like Gandalf in Lord of the Rings and the Two Towers. And he's standing in front of Theon, King Theon, and the evil wizard Saruman has possessed King Theon. And like drawing blood from a stone, Gandalf exercises the evil wizard. And I feel like that's what just happened with Elizabeth Warren and the Democratic Party and crypto policy. But the other thing I'll say about the Ethereum ETF looking forward is”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Andy. Well said. So I'll throw in the latest ETF news here, which is that surprise of all surprises, it looked like the Ethereum ETF was not going to be approved. It looked like Gary Gensler. Yeah, exactly. Anytime soon. Yeah, excuse me. Never say never. It was probably, you know.”
2024-06-05 · We Study Billionaires · BTC185: AI Compute with Bitcoin Mining w/ Andrew Edstrom and Jesse Myers (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT