DiscoverWe Study Billionaires - The Investor’s Podcast NetworkBTC248: Bitcoin’s Institutional Wave w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh at Baltic Honeybadger (Bitcoin Podcast)
BTC248: Bitcoin’s Institutional Wave  w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh  at Baltic Honeybadger  (Bitcoin Podcast)

BTC248: Bitcoin’s Institutional Wave w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh at Baltic Honeybadger (Bitcoin Podcast)

Update: 2025-08-201
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Description

A sharp panel debates Bitcoin’s “institutional phase”: BlackRock’s ETF as catalyst, SEC policy shifts on in-kind redemptions, and the boom in corporate treasury strategies.


They probe Coinbase custody concentration, nationalization risks, Tether’s role, and why self-custody remains the antidote. AI’s influence on education and CBDCs vs private stablecoins round out a high-signal hour.




IN THIS EPISODE YOU’LL LEARN:


00:00 - Intro


03:11 - Why BlackRock’s spot ETF marked a cultural and capital tipping point. 


05:31 - How SEC limits on in-kind redemptions and their reversal, shape market integrity. 


08:56 - The difference between MicroStrategy’s preferred stock model vs convertible debt. 


10:14 - Why concentrated Coinbase custody introduces fragility and what decentralizes it. 


12:10 - The political “nationalization” risk and how institutions could be rugged. 


17:45 - The case for denominating liabilities in fiat while stacking BTC. 


19:50 - Pitfalls of copycat treasury companies timing the market (e.g., short-dated debt). 


25:53 - How AI-driven discourse (e.g., Grok) accelerates Bitcoin education. 


29:10 - Why private stablecoins (e.g., Tether) may outcompete CBDCs globally. 


37:37 - The timeless lesson: make Bitcoin “un-ruggable” via self-custody.


Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.




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BTC248: Bitcoin’s Institutional Wave  w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh  at Baltic Honeybadger  (Bitcoin Podcast)

BTC248: Bitcoin’s Institutional Wave w/ Willy Woo, Max Kei, Efrat Fenigson, and Preston Pysh at Baltic Honeybadger (Bitcoin Podcast)

The Investor's Podcast Network