“There was a huge shift in November of last year, getting an administration that is much more positive on Bitcoin.” – 03:40
John Haar, Managing Director at Swan Bitcoin, joins Remy Blaire to discuss recent surge in Bitcoin prices.
Jon explains that the recent price fluctuations are typical for Bitcoin, but he believes the underlying thesis supporting its value remains intact. He discusses the concept of dollar debasement, emphasizing that the increase in Bitcoin’s price reflects the declining purchasing power of the dollar, driven by factors such as central bank policies, government deficit spending, and commercial bank activities.
on highlights the positive stance towards Bitcoin from the current administration, contrasting it with previous attitudes. He notes the appointment of a “crypto czar” in the White House and the government’s commitment to finding budget-neutral ways to accumulate Bitcoin, which has bolstered institutional interest in the asset.
Jon elaborates on the growing trend of institutional investment in Bitcoin, mentioning that major entities, including Harvard University, have begun to allocate substantial funds into Bitcoin ETFs. He points out that Bitcoin’s volatility has decreased since the launch of these ETFs, indicating a growing acceptance of Bitcoin as a legitimate asset class.