In this Swan Signal Live episode, Brady Swenson and John Haar talk with Swan CIO Ben Werkman and Adrian Morris about Bitcoin’s price action, macro trends, and Bitcoin treasury companies. With Bitcoin hovering near $110K, they discuss global liquidity spikes, the M2 money supply, and how deficits and political gridlock fuel the “nothing stops this train” meme. Werkman highlights Bitcoin as an exit from fiat’s consumption model, while Morris emphasizes responsible corporate adoption. They explore the ethics and impact of Bitcoin treasury strategies, stressing the importance of transparency and institutional demand.
Bitcoin Price Action: Hovering near $110K, with all-time highs above $112K recently. Discussed global liquidity spikes and the M2 money supply’s correlation with Bitcoin price trends.
Macroeconomics:
U.S. deficits, debt concerns, and the “Big Beautiful Bill” passing.
Ray Dalio’s remarks on the political impossibility of balancing the U.S. budget, echoing the “nothing stops this train” meme.
The impact of AI as a deflationary force and its implications for the fiat system.
Bitcoin as an Exit Strategy:
Personal responsibility in opting out of the fiat system through Bitcoin.
The growing necessity for individuals and corporations to store value in Bitcoin.
Housing Market & Consumption Economy:
Rising home prices due to monetary premium; potential relief through Bitcoin adoption.
Bitcoin Treasury Companies:
Debate over ethics and sustainability of companies leveraging Bitcoin treasuries.
Viewed as inevitable due to regulatory arbitrage; focus on institutional capital rather than retail.
Emphasis on responsible management and transparency as key to long-term success.