The Bitcoin Boom: Strategic Acquisitions and State-Level Legislation

In this episode of Old Men New Money, hosts Douglas Borthwick and Ali Davoudi discuss the latest trends and major moves in the Bitcoin and cryptocurrency markets. They delve into MicroStrategy's aggressive Bitcoin accumulation strategy led by Michael Saylor, the company's rebranding, and its growing influence.

Other key topics include the involvement of major players like Meta Planet, 21 Co, and Cantors and Tether in the Bitcoin race. They also discuss mergers and acquisitions in the crypto space, highlighting Coinbase's $2.9 billion acquisition of Deribit and Jump Trading's investment in Securitize. Additionally, they address the state-level Bitcoin reserve legislation passed by New Hampshire and Arizona, and the potential of Texas joining in.

The discussion extends to the Genius Act, its blockage in Congress, and Coinbase's alleged role in it. The episode concludes with a preview of upcoming guest Dennis Porter, who will share insights on state-level Bitcoin initiatives.

00:00 Introduction and Subscriptions

00:42 Episode Overview and Topics

01:17 MicroStrategy and Bitcoin Strategy

03:40 Bitcoin as a Store of Value

07:00 MicroStrategy's Market Moves

11:52 Financial Engineering and Bitcoin Lending

15:08 Concerns with Traditional Finance

18:27 US Bitcoin Reserve and Accumulation Strategies

21:00 Government's Bitcoin Strategy

21:54 US States Embrace Bitcoin

22:50 Bitcoin's Scarcity and Value

24:10 Bitcoin as a Store of Value

25:11 Bitcoin vs Traditional Finance

25:48 Understanding Bitcoin Investment

32:25 Institutional Adoption of Crypto

34:53 Regulatory Challenges and M&A News

38:51 Conclusion and Upcoming Interviews