How Global Liquidity Cycles Drive Crypto's $100T Target | Raoul Pal & Dan Tapiero
In this episode, Raoul Pal and Dan Tapiero explain how global liquidity cycles could propel crypto to a staggering $100 trillion market. They break down the "Everything Code" concept, explaining how broader economic trends are setting the stage for crypto's explosive growth. Pal and Tapiero unpack China's economic challenges, debate AI's impact on employment, and share their strategies for portfolio allocations. From Bitcoin's potential million-dollar valuation to the emergence of new layer-1 blockchains, you don't want to miss this one!
- -
Start your day with crypto news, analysis and data from Katherine Ross and David Canellis.
Subscribe to the Empire newsletter: https://blockworks.co/newsletter/empire?utm_source=podcasts
Follow Raoul: https://x.com/RaoulGMI?
Follow Dan: https://x.com/DTAPCAP
Follow Jason: https://twitter.com/JasonYanowitz
Follow Santiago: https://twitter.com/santiagoroel
Follow Empire: https://twitter.com/theempirepod
Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter: https://blockworks.co/newsletter/
- -
The 6th edition of Meridian, a web3 conference hosted by the Stellar Development Foundation is happening in London, England October 15-17, 2024.
Learn more and get your early-bird priced tickets now at meridian.stellar.org by using the code BLOCKWORKSPOD.
- -
Harpie sets the standard in on-chain security, actively monitoring and safeguarding your crypto wallet against theft in real time. It detects, blocks, and recovers stolen assets from risky transactions before they execute, shielding you from even the most advanced hacks and scams. Harpie is free to use and compatible with all Ethereum, Base, Polygon, and Arbitrum wallets.
Protect your crypto today at harpie.io.
- -
Renaud Partners has built the most elite network of native crypto marketers globally.
They create custom, expert teams to support founders with transformative strategy work.
If you’re a founder or a VC looking for support for your teams, head on over to RenaudPartners.com or give their co-founder Geoff a follow on x at https://x.com/ReoffGenaud
- -
Timestamps:
(00:00) Introduction
(02:16) Dan & Raoul Origin Story
(05:21) The Global Macro Liquidity Cycle
(15:14) Who Drives the Cycle?
(20:14) Do US Presidents Impact Cycles?
(23:46) Why We are Not in a Recession
(28:28) Best Portfolio Today
(34:39) Stellar Ad
(35:29) Invisible North Ad
(36:24) MyPrize
(37:00) Harpie Ad
(38:15) Trading Cycles
(48:21) Pitch for LPs
(01:01:04) 12-Month Predictions
(01:04:44) Election Impact
- -
Disclaimer: Nothing said on Empire 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 solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.
This former macro wonk explains crypto's ten trillion dollar opportunity
Dan Tapiero is the founder and managing partner of 10T Holdings and 1RoundTable Partners — two growth equity funds operating across the digital asset ecosystem.
In this episode, Tapiero gives an overview of how the recent market rally has impacted deal flow on the secondary market, and explains why he remains strongly bullish on the future growth trajectory of the industry.
According to Tapiero, valuations in crypto's secondary market have yet to see a marked uptick in Q4 partially due to the lack of private equity firms that stuck with the space in the wake of the FTX meltdown.
"There were a lot of blow ups and I think the people who got out of over their skis are kind of gone," says Tapiero.
However, Tapiero does not believe his relative lack of competition in crypto's secondary market will exist for long — he's currently raising a fourth growth equity fund to invest in digital assets in part because he's "worried that prices are going to start to move up."
Macro investor Dan Tapiero on why his fund is pouring hundreds of millions into crypto unicorns
“It’s a global development.”
On this episode of The Scoop, 10T Founder and CEO Dan Tapiero joined host Frank Chaparro to discuss his insights into the globalization of crypto markets and how his macro investing strategy has seen his fund 10T pour hundreds of millions into crypto unicorns.
To date, Tapiero has already allocated the majority of some of his funds to companies such as Kraken, Deribit, and Ledger. “We have a portfolio of about 10 to 15 companies that are our targets."
Tapiero mentioned how 10T has been helping investors adopt a macro crypto strategy, saying that he’s rejected some 50 plus deals in favor of a more careful approach with a closer guarantee to 5-10x returns. In spite of bear swings, Tapiero remains bullish. "I don't think the valuations of things that we're looking at are high to begin with."
Tapiero also observed an "asymmetry" that he credits to the market's resilience. He said he's noticed that as bitcoin upside drives valuations up, any market downsides simply cause bitcoin company valuations to remain relatively neutral. He had this to say:
"I saw that you can have a productive portfolio of assets withstand an unbelievable bear market without even having a negative mark. And so in 2018, what brought me to this idea to some degree, was in '18 bitcoin was down 80 percent, Ethereum 95 percent, but a basket of companies that we looked at broadly maintained their value. So to me, that's like mind blowing. I can build a portfolio that has access to all of the upside, not just of Bitcoin and Ethereum, but the entire space without having to suffer, hopefully, much on the downside... For institutions, especially, this is a very attractive type of portfolio."
...
Episode 64 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Dan Tapiero, Founder & CEO at 10T Holdings.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Bakkt, Kraken and Exodus
Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information
About Kraken
Whether you’re an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today.
About Exodus
Exodus is leading the world out of traditional finance by building beautiful and user-friendly crypto products. Forget having to learn the nuances of different cryptocurrencies. Exodus is designed for everyone and hides the complex details behind a beautiful and intuitive interface.
Buy and sell one cryptocurrency for another from the comfort of your wallet, in seconds. Funds remain under your full control.
Secure, manage, stake, and exchange all of your favorite cryptocurrencies from one wallet. No account registration is required. Download Exodus at Exodus.com or directly from Google Play and the iOS App Store and you’re ready to go.
Why Bitcoin Now: Bitcoin Under a Biden Administration - Ep.198
In this episode, Dan Tapiero, founder of 10T Holdings and Gold Bullion International, and Cathie Wood, CEO and CIO at ARK Invest, discuss the long election week in the U.S. and how they believe Bitcoin will behave in a post-election world. They also talk about:
how a changeover from a Trump to a Biden administration could affect Bitcoin
how the prospect of legal challenges from the Trump administration might affect Bitcoin
whether they think the presidential election influenced Bitcoin’s precipitous price jump in the first week of November
what it takes to change the mind of a Bitcoin skeptic in the investment world
whether gold investors are becoming more resistant or more embracing of Bitcoin
whether Democratic control of the Senate would affect Bitcoin
how they expect the new wave of rising coronavirus cases and lockdowns to affect economies and Bitcoin
the new inflation policy introduced by Federal Reserve chairman Jerome Powell and how it will affect Bitcoin
the recent Bitcoin halving and how they expect Bitcoin to perform over the next year
how banking will change over the next few years and how that will affect Bitcoin
their thoughts on central bank digital currencies and how an increase in CBDCs might affect Bitcoin
what factors they are looking at right now when thinking about what could happen with Bitcoin over the next year
Thank you to our sponsor!
Crypto.com: https://www.crypto.com
Episode links:
Cathie Wood: https://twitter.com/cathiedwood
Ark Invest: https://ark-invest.com/
Yassine Elmandjra: https://twitter.com/yassineARK
Dan Tapiero: https://twitter.com/DTAPCAP
10T Holdings: https://10tfund.com/
Gold Bullion International: https://bullioninternational.com/
Unchained with Brian Brooks: https://unchainedpodcast.com/acting-comptroller-of-the-currency-brian-brooks-on-crypto-banks/
Jerome Powell speech on targeting inflation of 2%: https://www.cnbc.com/2020/08/27/powell-announces-new-fed-approach-to-inflation-that-could-keep-rates-lower-for-longer.html
Bitcoin-gold correlation: https://coinmetrics.io/correlation-charts/#assets=btc-gld
Bitcoin-S&P 500 correlation: https://coinmetrics.io/correlation-charts/#assets=btc-s&p
Forbes profile on Cathie Wood: https://www.forbes.com/sites/antoinegara/2020/10/05/how-cathie-wood-beat-wall-street-by-betting-tesla-is-worth-more-than-1-trillion/?sh=12d44f813d45
ARK Invest Bitcoin white papers: https://ark-invest.com/white-papers/bitcoin-part-one/
https://ark-invest.com/white-papers/bitcoin-part-two/
Learn more about your ad choices. Visit megaphone.fm/adchoices
