What Bitcoin Did

Phong Le, CEO of Strategy, joins the show to break down exactly how the world’s biggest Bitcoin treasury company works. The Bitcoin-backed credit markets, the preferreds, the leverage, and how Strategy keeps buying Bi...Read more

Max Guise from Block joins the show to break down one of the biggest leaps forward for Bitcoin self-custody: BitKey’s new privacy upgrade, why it matters, and how it removes one of the last major trade-offs between sa...Read more

Checkmate and Alec Dejanovic from Checkonchain break down what’s really happening with Bitcoin’s price. The unprecedented long-term holder sell-off, the spot buyers absorbing billions, and why this cycle looks less li...Read more

Mark Suman is the co-founder of Maple, a fully private, open-source AI. Mark breaks down how Big Tech and governments are using AI to harvest data, profile behaviour, and build the foundations of a coming sur...Read more

Lyn Alden is a macroeconomist, investor, and the author of Broken Money, known for her deep analysis of liquidity cycles, fiscal dominance, and long-term market structure. In this episode, Lyn breaks down the m...Read more

Rob Hamilton is the co-founder and CEO of Anchor Watch, a Bitcoin custody and insurance provider. In this episode, Rob breaks down BIP-444, the proposed soft fork aimed at stopping spam. He explains why it repr...Read more

SeedSigner is an open-source Bitcoin signing device. In this episode, SeedSigner breaks down why trustless hardware matters and why Bitcoin security is a journey, not a destination. He explains how hardware w...Read more

Matthew Mezinskis is a macroeconomic researcher, host of Crypto Voices and creator of Porkopolis Economics. In this episode, Matthew breaks down why Bitcoin doesn’t grow exponentially like traditional finance...Read more

The Rational Root is an on-chain analyst and the creator of the Bitcoin Strategy platform. In this episode, Root breaks down whether Bitcoin’s four-year cycle is truly over. He explains why the recent correct...Read more

Ben Perrin is the creator and host of BTC Sessions, one of Bitcoin’s longest-running educational channels. In this episode, Ben breaks down what true Bitcoin self-custody looks like — from beginner-friendly w...Read more

Marty Bent is the Founder of TFTC and Managing Partner at Ten31, Erik Cason is the Co-Founder of Vora, and American HODL is… American HODL. In this Bitcoin Whitepaper Day special, marking 17 years since Satosh...Read more

Obi Nwosu is the CEO and co-founder of Fedi. In this episode, Obi explains how Bitcoin can uplift billions by creating new forms of community-based finance, why privacy is the dividing line between freedom and...Read more

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and author of Check Your Financial Privilege and Hidden Repression. In this episode, Alex explains why Bitcoin is the most powerful...Read more

Nik Bhatia is a financial researcher and the author of Layered Money and The Bitcoin Age. In this episode, Nik explains why last week’s repo market spike was a potential warning shot that liquidity in the syste...Read more

Leopoldo López is a Venezuelan opposition leader, former political prisoner, and founder of the World Liberty Congress, a global alliance of democracy defenders and freedom fighters. In this episode, Leopoldo...Read more

Andrew Hohns is founder and CEO of Battery Finance and CEO of Newmarket Capital. In this episode, we get into how Bitcoin-backed credit can rebuild trust in the global financial system — and why integrating Bitcoin in...Read more

Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole Recap, managing partner at Ten31 and co-founder of OpenSats & Bitcoin Park. In this episode, we dive into the rise of surveillance capitalism, why freedom...Read more

Luke Gromen is the founder of Forest for the Trees. In this episode, we discuss why the U.S. debt cycle is reaching a breaking point, how AI and geopolitics are accelerating structural change, and why we could be witn...Read more

Checkmate is a Bitcoin analyst known for his on-chain & macro research. In this episode, we get into the weekend’s deleveraging event across the markets, the structural fragility it exposed, and why Bitcoin’s resilien...Read more

Dr. Roman Yampolskiy is a computer scientist and AI safety researcher whose work explores the existential risks of artificial intelligence and the limits of human control. In this episode, we dive deep into whether su...Read more

Antoine Poinsot is a Bitcoin Core contributor and researcher at Chaincode Labs. In this episode, we dive deep into the growing divide between Bitcoin Core and Knots, why mistrust in Core development has reached new le...Read more

Peter Dunworth is the Director of a multi-family office and is the co-founder of The Bitcoin Adviser. In this episode, we dive into why Bitcoin is the ultimate vehicle for generational wealth, how to actually protect...Read more

Checkmate is an on-chain analyst and founder of Checkonchain, Joe Carlasare is a Commercial Litigator and macro commentator & Matthew Pines is the Executive Director at the Bitcoin Policy Institute. They exp...Read more

Samson Mow is the CEO of JAN3 and former CSO at Blockstream. In this episode, we get into the growing rift between Bitcoin Core and Knots, why mistrust in Core development is at an all-time high, and what it means for...Read more

Brandon Quittem is a the Author of The Mycelium of Money and VP at Swan. In this episode, we discuss the fourth turning, how history’s generational cycles shape today’s political chaos, and why Bitcoin could be the in...Read more

Lawrence Lepard is an Investment Manager and Author of The Big Print. In this episode, he explains why the dollar system is “doomed,” how inflation is as much psychological as monetary, and why the Fed and Treasury ar...Read more

Pete Rizzo breaks down how Bitcoin’s culture and institutions are being reshaped in 2025. From Trump’s executive orders and the creation of a strategic Bitcoin reserve to the rise of treasury companies and institution...Read more

Freddie New unpacks why the next wave of Bitcoin treasury companies could change the game, and why his new venture, B Hodl, is designed to be more than just another balance sheet play. From Lightning Network infrastru...Read more

James Lavish unpacks why the Federal Reserve, runaway debt, and global liquidity cycles are setting the stage for Bitcoin’s next explosive move. From stagflation and deficits to institutional rebalancing and treasury...Read more

Eric Yakes lays out why Bitcoin is on track for $10 million, and how cultural shifts, institutional adoption, and political realities are accelerating the path. From revolutions and mass movements to balance sheets an...Read more

John Scott-Railton dives into the dark world of spyware, surveillance, and state power — and what it means for our freedoms in the digital age. From uncovering Pegasus spyware in 2016 to exposing private intelligence...Read more

Vijay Selvam digs into the first principles of Bitcoin, why it matters, how it works, and what makes it the greatest tool against authoritarian states. From his background on Wall Street during the 2008 financial cris...Read more

Rod Roudi gets into the convergence of Bitcoin, AI, energy, and freedom tech — and why grassroots adoption matters just as much as corporate treasury plays. From the rise of Bitcoin meetups and physical hubs like Bitc...Read more

American HODL & Steven Lubka get into the rise of Bitcoin treasury companies, unpacking how securitisation, jurisdictional arbitrage, and corporate leverage are shaping the next phase of Bitcoin’s financialisation. We...Read more

Willy Woo gets into Bitcoin’s evolving market structure, breaking down how institutional flows, ETFs, and treasury companies are reshaping the bull market. He explains why Bitcoin has never faced a true business cycle...Read more

Preston Pysh gives us a masterclass on Bitcoin treasury companies, unpacking the mechanics behind Michael Saylor’s strategy and why it has outperformed Bitcoin since 2020. He explains how preferred stock and...Read more

In this episode, Peter breaks down his five-year legal battle with Craig Wright, how UK libel laws were weaponised against him, and the moment the case finally turned in his favour. We also get into his fight t...Read more

Calle gets into into the future of financial and communication privacy, exploring how tools like Cashu and BitChat could help Bitcoiners survive in an increasingly hostile regulatory environment. He breaks down...Read more

Lyn Alden and Andy Constan go deep on Bitcoin treasury companies like Strategy, debating whether they’re outright Ponzi schemes or legitimate vehicles for leveraged Bitcoin exposure. We dig into how these compa...Read more

Troy Cross and Ella Hough break down the state of Bitcoin adoption across the U.S. and the globe, revealing what the data really says about Bitcoin’s political alignment, institutional shift, and cultural future....Read more

Checkmate breaks down Bitcoin's market structure, why treasury companies are flooding in, and whether the four-year cycle has finally broken. We get into how institutional money is reshaping on-chain dynamics...Read more

Dylan LeClair breaks down the rise of Bitcoin treasury companies, why corporate adoption may be hitting a “gradually then suddenly” inflection point, and whether Michael Saylor’s lead is now insurmountable. We...Read more

Nik Bhatia breaks down why Bitcoin may have broken free of its four-year cycle and what that means for the next decade. We discuss Bitcoin's market maturity, compressed volatility, and how new corporate deman...Read more

Jeff Booth explains why free markets are naturally deflationary and why this changes everything. What if the entire economy is built on a lie? Jeff Booth argues our credit-based system fights the natural deflat...Read more

Thomas Pacchia is the co-founder of Pubkey. In this episode, we get into the evolving culture of Bitcoin, why number-go-up narratives overshadow deeper principles like privacy, self-sovereignty, and freedom....Read more

Mauricio Di Bartolomeo is the co-founder of Ledn, the largest consumer Bitcoin lender. In this episode, we discuss how Ledn survived the collapse of BlockFi and Celsius, why they’ve removed all rehypothecation...Read more

Root is a Bitcoin on-chain analyst and the author of the "Bitcoin Strategy Platform" Substack. In this episode, we discuss the current state of Bitcoin’s bull market, why Root believes there’s no basis for a pr...Read more

Mitchell Askew is Head of Research at Blockware and author of The Conservative Case for Bitcoin. In this episode, we discuss the growing role of Bitcoin treasury companies, how miners are evolving into treasury...Read more

CJ Konstantinos is the Founder of People’s Reserve. In this episode, we discuss Bitcoin’s rise as digital gold, its role in revolutionising real estate and finance, and why it’s poised to become the ultimate pr...Read more

Matthew Pines is a the Executive Director at Bitcoin Policy Institute and an advisor to Skywatcher. In this episode, we explore the evolving landscape of UAPs, why the U.S. government may be sitting on legacy p...Read more

Grant McCarty is the Co-President of the Bitcoin Policy Institute. In this episode, we discuss the state of Bitcoin policy in Washington DC, how the Strategic Bitcoin Reserve went from a fringe idea to a real l...Read more

Becca Rubenfeld is the co-founder and COO of AnchorWatch. In this episode, Becca tells the story of how she adopted her son from a Ukrainian orphanage, including government corruption, falsified records, and sy...Read more

Erik Cason is the author of Cryptosovereignty & co-founder of Vora. Jesse Posner is a an engineer, formally at Coinbase and BitKey & the co-founder of Vora. In this episode, we discuss why Erik and Jesse believ...Read more

Jeff Walton is a financial analyst, a former reinsurance broker and the Founder of True North. In this episode, we break down the rise of Bitcoin treasury companies, why Strategy is playing an entirely differen...Read more

Jeff Ross is a macroeconomist, bitcoiner and Founder & CEO of Vailshire Capital Management. In this episode, we discuss why Jeff believes we're entering a new inflationary era that echoes the 1970s, why global...Read more

Erin Redwing is a former astronomer turned astrologer and the host of the Hell Money podcast. In this episode, we discuss how outer planet astrology can offer insights into macroeconomic and civilisational shif...Read more

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation, Paul Sztorc is Founder and CEO of LayerTwoLabs and the creator or Drivechains. In this episode, we discuss whether Bitcoin is falling...Read more

Sam Wouters is the Director of Marketing at River. In this episode, we discuss why the U.S. is emerging as the dominant force in Bitcoin adoption, how proof-of-reserves has evolved in a post-FTX world, and why...Read more

Joe Carlasare is a Commercial Litigator, a long time Bitcoiner, and macro commentator. In this episode, we discuss the U.S. sovereign debt debate, why the doom loop narrative might be missing the bigger picture...Read more

Matt Corallo is an Open Source Engineer at Spiral, a long time Bitcoin Core contributor and Lightning dev. In this episode, we discuss the current state of Lightning: what's finally working, what UX breakthroug...Read more

American HODL is an OG Bitcoiner. In this episode, we explore how the state may co-opt Bitcoin not by banning it, but by absorbing it into public markets, enabling control through financial instruments like ETFs and c...Read more

James Lavish is a macro investor, former hedge fund manager, and managing partner at the Bitcoin Opportunity Fund. In this episode, we explore the fragility of the U.S. bond market, how sovereign credit ratings...Read more

Jack Mallers is the Founder and CEO of Strike, and the Co-Founder and CEO of 21. In this episode, we discuss the breakdown of the post-WWII monetary order, the consequences of the U.S. exporting dollars, and wh...Read more

Harry Sudock is SVP at CleanSpark, one of the largest publicly traded Bitcoin mining companies in the world. In this episode, we explore why Bitcoin mining is reshaping America’s energy landscape, the evolution...Read more

Matthew Mezinskis is a macroeconomic researcher, host of the Crypto Voices podcast and creator of Porkopolis Economics. In this episode, we discuss fractional reserve banking, why it's controversial among Bitco...Read more

Lyn Alden is a macro analyst, investment strategist and the author of Broken Money. In this episode, we discuss the structural imbalances underpinning the U.S. trade deficit and its link to the dollar’s status...Read more

Bitcoin Mechanic is the Chief Boiling Officer at OCEAN. In this episode, we dive deep into the battle over OP_RETURN and Bitcoin node policy. Mechanic explains why arbitrary data like inscriptions and JPEGs rep...Read more

Checkmate is an on-chain analyst and founder of Checkonchain. In this episode, we get into Bitcoin’s breakout back above $100k and what on-chain data reveals about who’s buying, who’s selling, and whether retai...Read more

Zack Shapiro is a lawyer and Head of Policy at the Bitcoin Policy Institute. In this episode, we discuss the Samurai Wallet case, how the U.S. government is using outdated laws to target non-custodial Bitcoin t...Read more

Shinobi is the Technical Editor at Bitcoin Magazine. In this episode, we get into the latest "OP_RETURN war," exploring whether the debate is a cultural clash or a technical discussion about Bitcoin’s future.</...Read more

Jesse Myers is the author of the Once in a Species newsletter. In this episode, we discuss why humanity’s obsession with scarce assets may be hardwired into our DNA and how this evolutionary trait could explain...Read more

In this episode we have three sessions recorded live at CheatCode in Bedford. In the first session, Checkmate, Preston Pysh, and Alex Thorn break down the cracks in the fiat system, the rise of deglobalization,...Read more

Mark Moss is an entrepreneur, investor, and host of the Mark Moss Show and Market Disruptors. In this episode, we discuss why Bitcoin could 10x over the next five years as well as the political and financial cy...Read more

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and author of Check Your Financial Privilege, Hidden Repression and The Trojan Horse of Freedom. In this episode, we discuss whether B...Read more

Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole Recap, managing partner at Ten31 and co-founder of OpenSats and Bitcoin Park. In this episode, we discuss the risks of Bitcoin’s increasing financi...Read more

Junseth is the co-founder of the legendary Bitcoin Uncensored podcast and a longtime Bitcoiner. In this episode, we discuss whether Bitcoin has actually “done anything yet,” why financialisation might be both B...Read more

Bob Burnett is the Chairman and CEO of Barefoot Mining and board member of Ocean. In this episode, we discuss why the future of Bitcoin mining is about much more than just hashing, how control of block space co...Read more

Lawrence Lepard is an investment manager and author The Big Print, which covers the broken monetary system and how Bitcoin fixes this. In this episode, we discuss Trump’s tariffs, their real economic impact, an...Read more

Joe Bryan is a Bitcoin educator and the creator of What’s the Problem? In this episode, we discuss why our current system is rigged, how the hidden theft of inflation quietly corrodes everything from quality of...Read more

Brent Johnson is the CEO of Santiago Capital and the creator of the Dollar Milkshake Theory. In this episode, we discuss why the dollar may strengthen before it dies, how global debt markets rely on an insatiab...Read more

Michael Dunworth is an Australian entrepreneur and was one of the co-founders of Wyre, a Bitcoin payments and infrastructure provider established in 2013. In this episode, we discuss nation-states strategically...Read more

Peter Dunworth is the Director of a multi-family office and is the co-founder of The Bitcoin Adviser. In this episode, we discuss why Bitcoin is the only asset that can recapitalise the financial system, why Pe...Read more

Nik Bhatia is the author of Layered Money and The Bitcoin Age. In this episode, we discuss the structure and evolution of the modern financial system, how banks run the world and why understanding liquidity is...Read more

In this episode, I am joined by Pierre Rochard & Michael Goldstein. We discuss the Nakamoto Institute, why they believe money is a foundational pillar of civilisation, how Austrian economics helped them recognise Bitc...Read more

Luke Gromen is the founder of FFTT, an economic research firm focused on global macro trends. In this episode, we discuss why Luke believes the U.S. is approaching a sovereign debt crisis, how rising interest c...Read more

Parker Lewis is the author of Gradually, Then Suddenly and Head of Business Development at Zaprite. In this episode, Parker pushes back on Jeff Snider’s ideas about the monetary system, challenging the idea tha...Read more

Avik Roy is a policy analyst, and the president of the Foundation for Research on Equal Opportunity. In this episode, we discuss why Avik believes the U.S. fiscal situation is heading toward a crisis within the...Read more

Jeff Snider is a macro analyst and the host of Eurodollar University. In this episode, we discuss why Jeff believes the Federal Reserve has far less control over the economy than people assume, the true nature...Read more

Hunter Beast is a Bitcoin researcher focused on mitigating the risks quantum computing may pose to Bitcoin. In this episode, we discuss the potential threat quantum computers pose to Bitcoin’s cryptographic sec...Read more

Matthew Pines is a national security consultant and a Fellow at the Bitcoin Policy Institute. American HODL is an OG Bitcoiner. In this episode, we discuss the Strategic Bitcoin Reserve, the geopolitical game t...Read more

Josh Hendrickson is a professor of economics and Chair of the Department of Economics at the University of Mississippi, William Luther is an associate professor of economics at Florida Atlantic University and a senior...Read more

Daniel Batten is a Bitcoin environmental analyst and investor focused on mining and sustainable energy. In this episode, we break down why this cycle is different, with sovereign funds, pension funds, and miner...Read more

Checkmate is an on-chain analyst and founder of Checkonchain. In this episode, we break down the recent Bitcoin correction, what’s driving sentiment, and whether this is just a shakeout. We discuss the role of...Read more

James Lavish is a macro investor, former hedge fund manager, and managing partner at the Bitcoin Opportunity Fund. In this episode, we discuss global liquidity cycles, the role of the Federal Reserve in managin...Read more

Preston Pysh is an investor, GP at Ego Death Capital and host of The Investor’s Podcast & Nico Lechuga is Founding Partner at Ego Death Capital. In this episode, we discuss Bitcoin-backed bonds, the role of Bit...Read more

Eric Yakes is the author of The 7th Property and Managing Partner at Epoch, a Bitcoin venture firm. In this episode, we discuss Bitcoin adoption trends, the role of ETFs and institutional buyers, and whether na...Read more

Becca Rubenfeld is the co-founder and COO of Anchor Watch. In this episode, we discuss Becca’s journey from corporate America to Bitcoin, Anchor Watch’s Trident Vault, the role of MiniScript in securing Bitcoin...Read more

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and Fictitious Capital is a writer and researcher. In this episode, Alex and Fictitious Capital discuss Bitcoin's potential to challen...Read more

Alex Thorn is the Head of Research at Galaxy Digital. In this episode, we discuss the growing institutional adoption of Bitcoin, the role of the U.S. government, whether a strategic Bitcoin reserve is on the ta...Read more

Rational Root is a Bitcoin on-chain & cycle analyst. In this episode, we discuss the current state of the Bitcoin market, why institutional adoption remains in its early stages, and how on-chain metrics suggest...Read more

Jameson Lopp is the co-founder of Casa, and a long-time Bitcoin security expert. In this episode, we discuss the state of Bitcoin self-custody, the growing threat of physical attacks on Bitcoiners, and why UX r...Read more

Jeff Walton is a financial analyst and a former reinsurance broker with a focus on MicroStrategy. In this episode, we discuss MicroStrategy’s Bitcoin playbook, the impact of FASB fair value accounting, and how...Read more

Alex Leishman is the CEO & CTO of River. In this episode, we discuss the nuances of self-custody versus custodial solutions, the challenges of securing Bitcoin, and the trade-offs between decentralisation and s...Read more

Erik Cason is a Bitcoin OG and author of Crypto Sovereignty. In this episode, we discuss the philosophy of Bitcoin, it's role in preserving freedom and resisting censorship, its parallels to historical moments...Read more

Lyn Alden is a macro analyst, investment strategist and the author of Broken Money. In this episode, we discuss the impact of fiscal policy on inflation, the Federal Reserve's constraints under fiscal dominance...Read more

Mark is the former editor in chief of Bitcoin Magazine and the author of The Bitcoin-Dollar: An Economic Monomyth. In this episode, we discuss the evolution of the Bitcoin-dollar thesis, Tether, and Bitcoin as...Read more

Jeff Ross is a macroeconomist, bitcoiner and Founder & CEO of Vailshire Capital Management. In this episode, we discuss global liquidity cycles and its impact on Bitcoin price movements, predictions for Bitcoin...Read more

Lawrence Lepard is an investment manager and author of upcoming book The Big Print, which covers the broken monetary system and how Bitcoin fixes this. In this episode, we discuss the Federal Reserve’s role in...Read more

Roger Huang is the author of Would Mao Hold Bitcoin? And an expert on the intersection of Bitcoin and China. In this episode, we discuss China's economic turmoil, the implications of the property bubble collaps...Read more

Pete Rizzo is a Bitcoin historian and Editor at Bitcoin Magazine. In this episode, we discuss Bitcoin 16 years on, the 100k milestone, Saylor's 100k party, and the broader implications of Bitcoin's systemic importance...Read more

American HODL is an OG Bitcoiner & Matt Odell is host of Citadel Dispatch, co-host of Rabbit Hole Recap, managing partner at Ten31 and co-founder of OpenSats and Bitcoin Park. In this episode, we recap 2024 and...Read more

Alex Gladstein is the Chief Strategy Officer at the Human Rights Foundation and Fictitious Capital is a writer and researcher. In this episode, Alex and Fictitious Capital discuss Bitcoin's potential to chall...Read more

Parker Lewis is the author of Gradually, Then Suddenly and Head of Business Development at Zaprite. In this interview, we discuss the Strategic Bitcoin Reserve, the feasibility of executive action to acquire Bi...Read more

Matthew Pines is the Director of Intelligence at SentinelOne and Head of Strategy at the Bitcoin Policy Institute. In this interview, we discuss the concept of a Strategic Bitcoin Reserve, the feasibility of ex...Read more

Harry Sudock is the SVP at CleanSpark. In this interview, we discuss the Strategic Bitcoin Reserve, the game theory behind nation-state adoption, and the impact of Bitcoin on the global monetary system. We also...Read more

Jeff Booth is an entrepreneur and the author of The Price of Tomorrow. In this interview, we discuss why Bitcoin is inevitable, the parallels between Bitcoin and the early internet, and the role of layers like Lightni...Read more

Roger Burlingame is the defense attorney for William Hill, co-founder and CTO of Samourai Wallet, a privacy-focused Bitcoin wallet. Zack Shapiro is the head of Policy at the Bitcoin Policy Institute. In this in...Read more

Rob Hamilton is the co-founder and CEO of Anchor Watch, a Bitcoin custody and insurance provider. In this interview, we discuss hyperbitcoinisation, the evolving cultural and technical landscape of Bitcoin, and...Read more

Checkmate is an on-chain analyst and founder of Checkonchain. In this interview, we discuss the relaunch of 'What Bitcoin Did,' Bitcoinbreaking 100K and the growth in institutional demand. We also get into the the Str...Read more