84: Carry Trade Crack

Chris Fisher analyzes recent Bitcoin market fluctuations, attributing a Sunday night decline to a liquidity shock in Asia and the unwinding of the yen carry trade due to potential rate hikes by the Bank of Japan. He discusses the impact of Treasury Secretary Yellen's policies and the conflict between government stimulus and central bank tightening. The podcast also covers Vanguard's shift to allowing Bitcoin ETFs, Bank of America's endorsement of crypto ETFs for select clients, and Charles Schwab's plan to offer Bitcoin and Ethereum trading. Fisher addresses concerns about a prolonged bear market, MicroStrategy's Bitcoin strategy, and the increasing levels of degenerate gambling with the introduction of Polymarket to the U.S. market, while also highlighting the importance of understanding Bitcoin in an energy context.