Episode notes
Jesse Myers is co-founder and COO of Onramp Bitcoin. In this interview, we discuss Bitcoin’s potential growth, adoption and valuation, and the implications of Bitcoin’s price accelerating. We also talk about the risks associated with bonds, the concept of money, and the hurdle of convincing people to buy Bitcoin. Jesse also introduces ‘Onramp’, a Bitcoin asset management platform built on multi-institution custody.
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Many investors are still bullish on Bitcoin's transparent and rigid monetary policy: its increasing scarcity will attract more value to it, potentially making it a better store of value than gold. Some are expecting a transfer of wealth out of bonds into Bitcoin, as Bitcoin slowly becomes considered a lower-risk asset; this is in the context of bonds continuing to show significant signs of stress due to burgeoning sovereign debt and inflationary headwinds.
It is in the context of this expected inflow of capital into Bitcoin by individuals and organisations that aren’t prepared or willing to secure private keys, that Jesse Myers co-founded Onramp Bitcoin, a trust-minimized form of custody. Their multi-institution custody eliminates counterparty risk without requiring individuals to hold their own keys.
In the podcast, Jesse explained the multiplier effect of capital inflows into Bitcoin and how it could impact its valuation, whilst emphasizing the importance of remaining grounded in the total global asset landscape and not assuming unrealistic valuations for Bitcoin. We also discussed how Bitcoin can shift value back to ‘good money’, and further how it starts to become a dominant form of currency.
We discussed how the path of Bitcoin adoption will manifest i.e. whether its growth is likely to be gradual or exponential. We discussed the implications in the interim period of governments continuing to print money to pay off debt, and the potential redistribution of wealth to Bitcoiners who have planned differently. We also considered the possibility and implications of fiat currencies failing and the world finally turning to Bitcoin as a solution.
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Show notes: https://www.whatbitcoindid.com/podcast/bitcoins-full-potential-value
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