Is $50,000 BTC the Beginning of a Bitcoin Supercycle?

As bitcoin reaches a new milestone all-time high, NLW asks whether we’ve broken out of a traditional halving-based market cycle to something bigger.

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ABOUT

As bitcoin reaches a new milestone all-time high, NLW asks whether we’ve broken out of a traditional halving-based market cycle to something bigger.

This episode is sponsored by Nexo.io.

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Early this morning, bitcoin reached a new all-time high above $50,000. While the market quickly retraced, the psychological barrier was breached. On today’s episode, NLW explores what it means, including whether there is any technical value in the number and Michael Saylor and MicroStrategy’s new $600 million debt offering to buy more bitcoin.

He also explores Dan Held’s concept of a bitcoin supercycle, looking at the three pillars of the argument:

Perfect macro backdrop
Singular narrative
Availability and ease of use

Image credit: Overearth/iStock/Getty Images Plus

HOST

Nathaniel Whittemore

NLW is an independent strategy and communications consultant for leading crypto companies as well as host of The Breakdown – the fastest-growing podcast in crypto. Whittemore has been a VC with Learn Capital, was on the founding team of Change.org, and founded a program design center at his alma mater Northwestern University that helped inspire the largest donation in the school’s history.