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In this episode, CIO of ProCap Jeff Park unpacks the recent crypto market meltdown, the dangers of over-leveraging in perpetual futures, and why Bitcoin could now front-run altcoins. He also gives insights into ProCap’s work as a Bitcoin treasury company, the future of DATs, and reframes the “debasement trade” as a “purification trade” in today’s distorted macro environment. Enjoy!
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Follow Jeff: https://x.com/dgt10011
Follow Felix: https://x.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance
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Timestamps:
(00:00) Introduction
(02:01) Crypto Meltdown Post-Mortem
(07:09) Where Do Markets Go From Here?
(08:26) Evolving DAT Strategy
(16:17) Debasement vs. Purification Trade
(21:25) What’s Different this Time?
(26:31) The Cost of Years of Debasement
(31:42) Final Thoughts
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Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Macro #Investing #Markets #ForwardGuidance
This week, we’re joined by Michael Howell of CrossBorder Capital live from DAS London to break down the global liquidity cycle, the hidden recession and re-acceleration in the U.S., the impact of monetary debasement on gold and Bitcoin, China’s liquidity surge and stablecoin risks, and Europe’s structural challenges. We close with why today’s environment is truly unique in 4,000 years of monetary history. Enjoy!
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Follow Michael: https://x.com/crossbordercap
Follow Quinn: https://x.com/qthomp
Follow Felix: https://twitter.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance
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Timestamps:
(00:00) Introduction
(01:51) Where Are We in the Global Liquidity Cycle?
(05:26) Main St. Recession & Economic Rebound
(08:49) GDP vs Liquidity Cycles
(10:33) QE, Liquidity & Gold vs BTC
(15:44) No 4-Year Cycle But Still Bullish
(20:05) Stablecoins & China
(27:01) Europe’s Economic Struggles
(29:15) Developed Nation Decline
(34:55) How Unique is this Moment?
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Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.
#Macro #Investing #Markets #ForwardGuidance
