Bitcoin and cryptocurrencies, every mention
208 scenes, the whole family · ← back to Bitcoin and cryptocurrencies
tap a year for its mentions
every year anyone Ted Seides 225Ari Paul 45Michael Sonnenshein 41Eric Peters 24Seth Ginns 23Olaf Carlson-Wee 22Ben Forman 17Chris Dixon 16Mike Novogratz 14John Pfeffer 13
Verbatim, from the transcripts: the passages where Bitcoin and cryptocurrencies comes up
Bruce Martin – Still Lake Capital [Manager Meetings, EP.7)
- ▶ 45:39 Bruce Martin If you want to talk about the market, how many participants in the market own a bunch of Bitcoin? 2 times in the scene
Bill Ford – General Atlantic (Manager Meetings, EP.03)
Ashby Monk – Innovation in Institutional Portfolios (Capital Allocators, EP.196)
- ▶ 21:37 Ashby Monk Is like a little bit nerve wracking anytime you're thinking about putting money in Bitcoin.
a16z Podcast with Linda Xie and Jesse Walden - All About NFTS (Capital Allocators, EP.189)
- ▶ 7:01 Sonal Chokshi I just want to really emphasize, because again, when you think of a dollar that's fungible, or even a single Bitcoin arguably is fungible, it's something fungible.
- ▶ 8:06 Jesse Walden And Bitcoin changed the game because it enabled this public decentralized ledger where no one party is in control. 2 times in the scene
- ▶ 10:02 Jesse Walden So now if you send me one Bitcoin, everyone can see that you have one less and I have one more.
- ▶ 14:59 Sonal Chokshi I mean, Bitcoin since very early on, Ethereum since very early on, NFT since very early on, and I am honestly confused myself.
- ▶ 34:55 Jesse Walden And your Bitcoin can be at that address on Ethereum.
- ▶ 48:58 Sonal Chokshi This is obviously an artifact of people thinking in terms of Bitcoin, which can be energy intensive. 2 times in the scene
- ▶ 57:33 Jesse Walden Now it's possible to send ownership value, whether an NFT or ownership of the Bitcoin network, which you can now send that anywhere in the world instantly.
Dominic Garcia – Risk-based Investing at New Mexico PERA (Capital Allocators, EP.187)
- ▶ 47:19 Ted Seides How do you in your seat, or probably in any public pension setting, think about something brand new, like people are talking about the whole digital asset world now with the rise in price of Bitcoin and the other cryptocurrency assets. 4 times in the scene
Jeff Housenbold – Inside Softbank Vision Fund (Capital Allocators, EP.186)
- ▶ 52:18 Jeff Hausenbold That will continue to buoy assets and assets in the form of gold, in the form of Bitcoin, in real estate, and in equities.
Crypto for Institutions 4: Ari Paul – Exploiting Inefficiencies in Crypto Trading (Capital Allocators, EP.183)
- ▶ 4:49 Ted Seides You woke up Monday morning, and a 149,000 Bitcoin flowed into exchanges over the weekend. 3 times in the scene
- ▶ 13:51 Ted Seides So in your time sitting at the University of Chicago Endowment, I know you started thinking about and researching Bitcoin and would love to hear your perspective at the time of what it was like looking at this new asset in an institution… 6 times in the scene
- ▶ 17:14 Ted Seides Alongside of your interest in trying to educate the people at Chicago, Bitcoin, I know you spent a lot of time on the risk side. 10 times in the scene
- ▶ 19:58 Ted Seides Bitcoin starts moving.
- ▶ 21:54 Ted Seides Beta, pretty clearly Bitcoin, maybe a little bit of Bitcoin and Ethereum. 4 times in the scene
- ▶ 29:17 Ari Paul An example of a trade last year was when we were in the start of COVID, correlations between Bitcoin and S&P were gradually increasing. 9 times in the scene
- ▶ 30:46 Ari Paul Bitcoin trading is, like in any asset class, large caps tend to be more efficient than small caps. 4 times in the scene
- ▶ 36:02 Ari Paul We just got a Canadian Bitcoin ETF. 2 times in the scene
- ▶ 37:05 Ari Paul So Bitcoin hit its lows of a little over 3000 dollars December, 2018. 13 times in the scene
- ▶ 39:57 Ted Seides So across the assets you own, there's Bitcoin, Ethereum, you mentioned DeFi, there's a couple other areas that you could participate in.
- ▶ 41:53 Ted Seides So we've talked some on this series about the macro case, about Bitcoin, about some of the DeFi protocol and some of the other areas. 2 times in the scene
- ▶ 47:32 Ari Paul So most regulatory risks are trading risks for us in the sense that, for example, BitMEX, which had the largest trading volume for Bitcoin in the world, they had 70% of all volume about a year ago. 8 times in the scene
- ▶ 51:56 Ari Paul It's been reported, but I have no first-hand knowledge of this, that three of the largest endowments have directly bought Bitcoin. 2 times in the scene
- ▶ 52:46 Ari Paul I think we've had recently people like JP Morgan say they think that in five years, Bitcoin will be integrated into the global financial system, which is kind of an incredible statement coming from where we were a few years ago. 5 times in the scene
- ▶ 56:53 Ari Paul And the thing I'll highlight is the idea that if I want to send money to you right now, if I want to send you Bitcoin, you'll probably give me a Bitcoin public address, and I will then copy and paste that and send Bitcoin to it. 2 times in the scene
Crypto for Institutions 3: Seth Ginns – Investing Beyond Bitcoin (Capital Allocators, EP.182)
- ▶ 3:44 Ted Seides While in that role, Seth began angel investing a decade ago and became an early investor in Coinbase, Bitcoin, and Ethereum, 2 times in the scene
- ▶ 4:40 Ted Seides You woke up Monday morning, and a 149,000 bitcoin flowed into exchanges over the weekend. 3 times in the scene
- ▶ 13:38 Seth Ginns So I'd actually read a New Yorker article about Bitcoin in 2011. 4 times in the scene
- ▶ 15:10 Seth Ginns I'd say the trajectory toward institutional interest has been just as exponential in development as the price trajectory of, let's just say, Bitcoin as a proxy for the broader space. 2 times in the scene
- ▶ 16:58 Ted Seides It still seems like Bitcoin and to a lesser extent Ethereum command most of the attention of institutions in particular looking into this outside of maybe a venture capital investment they make in a fund. 9 times in the scene
- ▶ 28:38 Seth Ginns The bull market peaked Thanksgiving of 20 13 at 1100 for Bitcoin. 2 times in the scene
- ▶ 40:47 Seth Ginns But then we put in an overlay of liquidity risk management, and there's a wide range of liquidity of these tokens going from small cap up through Bitcoin, the largest, most liquid. 6 times in the scene
- ▶ 44:53 Seth Ginns So if we have a, depending on the volatility of the asset, if we have a 20 to 25% relative drawdown versus Bitcoin, let's make sure that our thesis is playing out. 3 times in the scene
- ▶ 47:06 Ted Seides As we look out, there's been a lot of interest, particularly starting with Bitcoin, Elon Musk buying for Tesla's balance sheet and MassMutual, and obviously Michael Saylor at MicroStrategy. 7 times in the scene
- ▶ 55:03 Seth Ginns And the market agrees with me because I look at what Bitcoin has done again, just as the largest market cap proxy. 2 times in the scene
- ▶ 59:26 Seth Ginns Do we do only Bitcoin? 4 times in the scene
Crypto for Institutions 2 – Michael Sonnenshein – A Path to Entry (Capital Allocators, EP.181)
- ▶ 4:34 Ted Seides You woke up Monday morning, and a 149,000 Bitcoin flowed into exchanges over the weekend. 3 times in the scene
- ▶ 8:50 Michael Sonnenshein And Second Market had made a name for itself trading private company stock, Facebook, other things like that before it went public, but it also gotten involved in the Bitcoin space. 2 times in the scene
- ▶ 11:26 Michael Sonnenshein Hey, I decided I want to buy some Bitcoin. 4 times in the scene
- ▶ 14:38 Michael Sonnenshein And so it's important that investors understand that digital assets like Bitcoin are, in fact, a bearer instrument, and if you are going to entertain an investment on an exchange and then move it off an exchange to a custodial provider,…
- ▶ 15:32 Michael Sonnenshein Digital currencies like Bitcoin. 6 times in the scene
- ▶ 19:44 Michael Sonnenshein So we started with Bitcoin in 2013. 4 times in the scene
- ▶ 23:18 Michael Sonnenshein So Ethereum is a distinct digital asset from Bitcoin and all the other assets folks have heard of. 6 times in the scene
- ▶ 27:43 Michael Sonnenshein That product is a market cap weighted basket of Bitcoin, Ethereum, Litecoin, and Bitcoin cash. 2 times in the scene
- ▶ 30:44 Michael Sonnenshein One is called Valuing Bitcoin, and the other is called Valuing Ethereum. 2 times in the scene
- ▶ 32:04 Ted Seides What's happened underneath the seams on the underlying technology that's different, say, today in this rise in Bitcoin than back in 2017? 3 times in the scene
- ▶ 34:51 Ted Seides So I know that the original Grayscale Bitcoin trust for a long time traded a significant premium to Bitcoin itself. 3 times in the scene
- ▶ 38:12 Michael Sonnenshein I would still say, for the most part, investors' first foray continues to be an investment in Bitcoin, but twenty-twenty saw two new groups from our standpoint. 6 times in the scene
- ▶ 41:15 Michael Sonnenshein I think one of the ones that I do come across a lot, which frustrates the hell out of me, is when folks say, uh, well, okay, come on, Michael, Bitcoin has failed because I'm not buying a cup of coffee with it. 8 times in the scene
Crypto for Institutions 1: Eric Peters – The Macro Case for Bitcoin (Capital Allocators, EP.180)
- ▶ 3:44 Ted Seides Each, as it turns out, turns his focus on studying Bitcoin and cryptocurrencies. 9 times in the scene
- ▶ 5:15 Ted Seides You woke up Monday morning, and a 149,000 bitcoin flowed into exchanges over the weekend. 3 times in the scene
- ▶ 8:24 Eric Peters I've been fascinated by Bitcoin in particular, less so the extended ecosystem. 6 times in the scene
- ▶ 9:45 Ted Seides What was it about Bitcoin that felt real to you as it relates to this concept of money? 4 times in the scene
- ▶ 12:02 Eric Peters And for all the talk about things like Bitcoin being used for dodgy purposes, the reality is cash dollars or euros or any currency, you know, once they're printed and they're distributed, they're very difficult to track. 5 times in the scene
- ▶ 14:01 Eric Peters That's one of those fun questions to think through, and also something that as I've become more active in the space, I've come to see as being one of the reflexive elements in Bitcoin. 6 times in the scene
- ▶ 16:53 Ted Seides Really people started paying attention, say, 2017 when Bitcoin price ran up and then later collapsed.
- ▶ 19:02 Ted Seides We know this isn't a cash flowing asset or how you think about Bitcoin in particular in the context of a portfolio. 2 times in the scene
- ▶ 24:56 Eric Peters Bitcoins. 4 times in the scene
- ▶ 30:05 Ted Seides Have your clients thought about the use of Bitcoin, maybe other cryptocurrencies, in the context of their portfolios?
- ▶ 35:18 Ted Seides You highlighted some of the risks in the earlier years of Bitcoin with the infrastructure in place. 3 times in the scene
- ▶ 42:51 Eric Peters And what we were trying to do is get the position on when everyone was worried that the contested election was going to tank stocks and bring Bitcoin down with it.
- ▶ 43:45 Ted Seides Buying Bitcoin and having to be sensitive to Twitter, it's hard not to raise the alarm bells of what's happened with all the crowdsourcing convexity of these assets, Robinhood and whatnot. 2 times in the scene
- ▶ 50:14 Eric Peters And then if we had an event which pushed the price of Bitcoin to make up a number, a million or three million or five million dollars or some crazy number, well, guess what? 2 times in the scene
- ▶ 52:48 Ted Seides We've talked a lot about what you did in Bitcoin, and without going too much into it, because we'll do that over the next couple of conversations, how do you think about extending that to other, either cryptocurrencies or blockchain assets? 2 times in the scene
Acting Chairman Rostin Behnam – CFTC Regulatory Perspectives on Crypto and Climate (Capital Allocators, EP.178)
- ▶ 26:32 Ted Seides One of the things going on at that time was this sort of massive spike in Bitcoin. 6 times in the scene
- ▶ 31:37 Rostin Behnam And I'm sure a lot of the stakeholders would say we've been hitting roadblocks since day one, but I think as the market evolves, and this is an interesting time, and we'll just use Bitcoin as the reference price, but I think you can see… 2 times in the scene
Chris Dixon – The Future of Blockchain at a16z (Capital Allocators, EP.172)
- ▶ 33:23 Ted Seides So you go back a couple of years ago, say, 2017, and Bitcoin price is going through the roof, and people are paying attention to it, and all this money got raised in ICOs. 14 times in the scene
- ▶ 39:52 Chris Dixon The Bitcoin world is that people wanted two things different to Bitcoin. 2 times in the scene
- ▶ 45:51 Chris Dixon The Bitcoiners would argue it's Bitcoin itself. 2 times in the scene
- ▶ 47:43 Chris Dixon There's the Bitcoin narrative, which I think has, from what I can tell, the financial world has become more accepting of, I guess. 3 times in the scene
- ▶ 51:29 unnamed speaker That said, now that we're 10 years into the, since the advent of Bitcoin and
- ▶ 56:39 Chris Dixon The people working on Bitcoin today are open source contributors who probably own some Bitcoin themselves and therefore want to have some financial interest in seeing Bitcoin succeed, but they aren't getting paid for it and they don't…
- ▶ 1:07:14 Chris Dixon People that sold other Bitcoin at the bottom, people that I know a lot of people who were like, 2 times in the scene
Chamath Palihapitiya – The Social Capital Flywheel (Capital Allocators, EP.167)
- ▶ 46:42 Chamath Palihapitiya You could be investing in DeFi, you could be investing in Ethereum, you could be investing in some shitcoin or Bitcoin.
Gregory Zuckerman – Decoding Renaissance Medallion (Capital Allocators, EP.119)
- ▶ 42:14 Gregory Zuckerman Maybe Bitcoin a little bit, or they just give it.
Jonathan Tepper - Variant Perception of Capitalism (Capital Allocators, EP.110)
- ▶ 52:30 Ted Seides So does that flow through the pro arguments for Bitcoin? 3 times in the scene
Michael Novogratz – Galaxy Digital (First Meeting, EP.06)
- ▶ 4:39 Ted Seides Most recently riding Bitcoin up starting in 2013, almost all the way down and back up again earlier this year. 2 times in the scene
- ▶ 14:21 Mike Novogratz A regulation coming in Bitcoin. 2 times in the scene
- ▶ 20:22 Mike Novogratz I was running a macro fund, and ironically, Pete Brigger, who would have been the last guy on the planet I would have thought of to be the Bitcoin guy, but he had moved to San Francisco, and one of his friends in his YPO group, a guy named… 10 times in the scene
- ▶ 29:56 Ted Seides So if you go back two years, in 2017, and Bitcoin's having this huge run, there's a couple of long-term theses with decentralization, store of value, all that. 8 times in the scene
- ▶ 35:22 Mike Novogratz So Bitcoin's got this great brand and it's going to replace gold over time, or at least supplement gold in a big way.
- ▶ 41:53 Ted Seides So on the one hand, you get into Bitcoin and think of it as a speculative vehicle. 3 times in the scene
- ▶ 45:42 Mike Novogratz And so I, I love talking about the barbell between chicken and Bitcoin.
Khe Hy – Radical Shift from Investing to Purpose (Capital Allocators, EP.101)
Michael Mauboussin – Who's on the Other Side (Capital Allocators, EP.99)
- ▶ 13:53 Michael Mauboussin And we saw that, by the way, Bitcoin was a classic example, so we saw that in late 2017.
Tim McCusker – Consistency and Creativity as CIO at NEPC (Capital Allocators, EP. 80)
- ▶ 51:10 Tim McCusker And then shifting currency regimes started out talking a lot about Bitcoin because everyone wanted to hear what was going on there. 2 times in the scene
Michael Batnick - The Best Investors and Their Biggest Mistakes (Capital Allocators, EP.71)
- ▶ 23:36 Michael Batnick So whether it's Bitcoin or the pot stocks or whatever, there's always going to be something that, that you don't own that's kicking ass.
Stephen McKeon – Professor of Crypto Security Tokens (Capital Allocators, EP.69)
- ▶ 18:23 Stephen McKeon It started to grow, so I was on the board there, and that was the experience through which I actually bumped into Bitcoin and blockchain.
- ▶ 26:04 Stephen McKeon So I cold emailed, like, Brian Armstrong, the CEO of Coinbase, and I cold emailed Patrick Byrne of Overstock and a bunch of others, like, anyone who was kind of using Bitcoin in commerce in some way. 2 times in the scene
- ▶ 33:40 Stephen McKeon And so not all blockchain, like Bitcoin is very clearly not a security, they've said as much, right?
- ▶ 35:02 Stephen McKeon Bitcoin is traded 24 seven. 3 times in the scene
- ▶ 42:34 Stephen McKeon So that is the thing that we've been missing until really the Bitcoin blockchain was invented, is that most of the protocols we have today have been good for moving various types of information, but not necessarily for moving value.
- ▶ 1:08:26 Ted Seides Well, Steven, I really enjoyed the thesis and talking to you about this because it's probably the first time other than the notion of Bitcoin as a digital currency that I actually could understand.
John Pfeffer - Crypto for Institutions (Capital Allocators, EP.54)
- ▶ 4:06 Ted Seides Last fall, I wrote an opinion piece for institutional investors entitled When Will Yale Buy Bitcoin?
- ▶ 21:42 John Pfeffer So I had the good fortune of being a friend of Vincis Casares, who is known as Bitcoin Patient Zero. 7 times in the scene
- ▶ 26:42 Ted Seides So you start with a 15 minute conversation that leads to small, modest investment in Bitcoin. 6 times in the scene
- ▶ 43:41 John Pfeffer Well, Bitcoin's the first candidate to do that. 6 times in the scene