2020 Bitcoin & Macro Review with Lyn Alden

 
 
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“I don’t think there are that many more hurdles anymore. I think once you have enough legendary investors come out, once you have a corporation add it to the balance sheet, once you have an insurance company add it, most of the flood gates are open.”
— Lyn Alden

SHOW DESCRIPTION

Location: Remotely
Date: Friday 18th December
Company: lynalden.com
Role: Macroeconomist

2020 has been a year unlike any, even before the coronavirus pandemic, the global economy was showing signs of stress. With the outbreak, the spread of the virus and subsequent lockdowns, governments worldwide resorted to unprecedented levels of monetary and fiscal stimulus to keep the flailing economy afloat.

With the record levels of money printing and the ballooning money supply, many earmarked 2020 as the year that Bitcoin could prove itself. 

In the last few days, Bitcoin has hit all-time highs of around $24,000, but unlike 2017, it is not just retail investors that have flocked to Bitcoin.

MicroStrategy has paved the way for institutional investors to own Bitcoin by not only converting $450m of their treasury to Bitcoin but raising an additional $650m by way of a convertible senior note sale to buy more Bitcoin.

MicroStrategy, legendary macro investors Paul Tudor Jones and Stanley Druckenmiller have taken positions in Bitcoin, signalling a new era of Bitcoin investors.

In this interview, I am joined by Lyn Alden, a macroeconomist and founder of Lyn Alden Investment Strategy. We discuss the coronavirus pandemic's impact, the increase in the broad money supply, high inflation and institutional investment in Bitcoin.

TIMESTAMPS

00:03:22: Introductions
00:05:19: 2020 economic shock
00:08:46: Impact of the government stimulus packages
00:15:30: Is a dotcom crash on the way?
00:17:21: Tesla
00:19:40: 2020 vs a normal recession
00:21:17: The euro
00:24:15: The broad money supply
00:30:12: The possibility for an inflationary shock
00:35:26: Inflation during the 1940s and 1970s
00:38:04: The "Great Monetary Inflation"
00:38:54: MassMutual
00:42:00: The myths surrounding money printing
00:43:17: What to watch for in the economy
00:47:57: The Fourth Turning
00:50:23: Impact of population movement
00:52:39: Fewer hurdles to investing in Bitcoin
00:55:42: Final comments

 

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SHOW NOTES

PodcastPeter McCormack