Hayes: AI IPO Dilution May Tighten Bank Credit, Weigh on Bitcoin
Arthur Hayes says post-IPO share unlocks at SpaceX, Anthropic, and OpenAI could tighten bank credit and impact Bitcoin.
Adam Back of Blockstream describes pension funds as Bitcoin's third adoption wave, which is still ahead, and says Swiss banks are preparing.
Bitcoin Magazine features a discussion with Adam Back, CEO and Co-Founder of Blockstream. He outlines his view on the adoption of bitcoin in three distinct waves.
Individuals formed the first wave. Exchange-traded funds represented the second. Back explains that the third wave, involving model portfolios, managed funds and pension funds, is still largely to come. He adds that Swiss banks are preparing for this wave.
The video chapters cover 00:00 the Blockstream Lugano office, 01:20 the move into consulting, 02:01 Swiss banks wanting quantum-safe Bitcoin custody, 03:04 tokenized money market funds versus stablecoins, 04:13 tokenized shares on Liquid and Blockstream AMP, 05:55 where institutions still get stuck, 07:00 building custody in-house versus using a custodian, 08:01 regulatory effects on custody, 10:01 Basel rules and the cost of holding Bitcoin, and 10:40 the three adoption waves.
A standard disclaimer applies. The views and opinions expressed are those of the participants. They do not necessarily represent the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. The content is for informational and educational purposes. It should not be taken as investment, legal, tax, or accounting advice. The show contains no solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before undertaking any financial or business decisions.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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