Is the Bull Market Back? With Alex Thorn

“During the bear market between 2013 and ‘17 it was like ‘bitcoin is for criminals,’ now the largest asset manager on earth says it’s part of a ‘flight to quality’ trade; it’s truly remarkable.”— Alex ThornAlex Thorn is the Head of Firmwide Research at Galaxy. In this interview, we discuss a range of topics including Galaxy’s sponsorship of Real Bedford FC, the growing trend of Bitcoin sponsorship in sports and the current state of the hip-hop music industry. We also talk about Bitcoin, including factors influencing its price, the potential approval of a Bitcoin spot price ETF(s), the importance of Bitcoin ownership and its role as a medium of exchange. - - - - Full disclosure, Galaxy became the first official sponsor of Real Bedford Ladies FC in the summer, allowing them to have professional coaching and for players to get paid for the first time. This has boosted the team: they are currently top of their league having won all their matches, and this Sunday they play in the first round of the world-famous FA Cup. I talked about this and the growing trend of Bitcoin sponsorship in sports with Alex Thorn.We also talked about Bitcoin and the potential factors influencing its price action: for example, there is a correlation between Bitcoin price and US economic policy. We discussed the impact of the upcoming halving event, for which there is growing anticipation. And we pondered the question of when to sell Bitcoin in the context of other investment opportunities; now might not be the right time to sell Bitcoin due to its potential for growth.The podcast covered the recent SEC amendments regarding Bitcoin spot price ETFs, involving additional risk disclosures for investors, possibly indicating a shift in SEC behaviour towards Bitcoin. We touched on the potential impact of a Bitcoin spot price ETF, with increased adoption and price growth tempered by concerns about institutionalization. We also considered the impact on Grayscale's business model, noting that lower fees in ETFs could affect their profitability. Finally, the discussion emphasized the importance of educating others about Bitcoin's value and fundamental features. Widespread understanding and adoption of the underlying principles of Bitcoin are crucial for its long-term success. Alex encourages Bitcoin enthusiasts to continue spreading awareness and discussing its values with friends, family, and potential investors.- - - - This episode’s sponsors:Iris Energy - Bitcoin Mining. Done Sustainably Bitcasino - The Future of Gaming is hereLedger - State of the art Bitcoin hardware walletWasabi Wallet - Privacy by defaultUnchained - Secure your bitcoin with confidenceOrange Pill App - Stack friends who stack sats-----WBD734 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.