The Breakdown

A daily analysis of macroeconomics, bitcoin, geopolitics and big picture power shifts, hosted by Nathaniel Whittemore @nlw. The Breakdown is part of Blockworks.


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Business
Investing
1501
No, the Digital Dollar Won't Kill Bitcoin
On today’s episode, NLW provides a 101-style overview of central bank digital currencies, looking at: Why governments are interested in CBDCs Why Facebook’s libra announcement accelerated CBDC development the world over Why China’s CBDC efforts...
14 min
1502
What Governments Should Do in the Coming Global...
On today’s episode, NLW reads Balaji Srinivasan’s essay “.” NLW argues that while India’s proposed crypto ban is nominally the focus, the implications are much bigger and have to do with a forthcoming global monetary competition that will...
30 min
1503
22% of Goldman Sachs Wealthiest Clients Think B...
On this edition of The Breakdown’s weekly recap, NLW looks at: Whether bitcoin is being caught up in the larger macro volatility The latest NFT shenanigans including a burned IRL Banksy The latest on institutional adoption including a positive...
11 min
1504
Macro 101: Bonds, the Fed and Money Printing, F...
What are Treasury bonds? Why does it matter how they’re doing? Does the Federal Reserve actually print money? What’s the difference between quantitative easing and yield curve control?  Bitcoin undeniably operates in a macro environment. In...
51 min
1505
Bitcoin Isn't Acting Like Stocks, Stocks Are Ac...
Over the last year there has been a growing correlation between the stock market and bitcoin. Some of this is attributed to the new traditional participants in bitcoin. Some of it is attributed to bitcoin acting less like an uncorrelated hedge and...
15 min
1506
Are You Really Surprised Elizabeth Warren Doesn...
Today on the Brief: PayPal acquiring Curv for $500 million? Traditional markets are very confused Portnoy launches Buzz exchange-traded fund Our main discussion: NLW looks at the emerging political landscape for crypto in the U.S. Specifically, he...
14 min
1507
Are NFTs Just This Cycle’s ICOs?
On today’s episode, NLW looks at the explosion of interest in NFTs. Big money, big names, big problems?  He asks whether non-fungible tokens are this cycle’s initial coin offerings by looking at five different comparison points: Inflated...
18 min
1508
Why Citi Thinks Bitcoin Is at a Tipping Point
Today on the Brief: Michael Saylor bought the dip China bans bitcoin mining in Inner Mongolia WallStreetBets moving off Reddit?  Our main discussion: Citi’s analysis of bitcoin.  February saw a non-stop barrage of bullish bitcoin news...
14 min
1509
Governments Couldn’t Ban Bitcoin Even if They W...
Today on “Long Reads Sunday,” NLW reads “” by Alex Gladstein, published recently by Quillette. Gladstein argues that both technical and legal attacks on bitcoin are extremely difficult to execute, even for large governments.  -- Earn up...
20 min
1510
Are Beeple's $6.6M Sale and Christie's Auction ...
This week on the Weekly Recap, NLW discusses: The price dip Tether’s settlement with the NYAG Coinbase’s S1 Filings Beeple’s record-setting NFT sales and what it means for the NFT space as a whole  -- Earn up to 12% APY on Bitcoin,...
10 min
1511
Why Cathie Wood Thinks Bitcoin Could Replace Bonds
Today on the Brief: SEC investigating Elon’s DOGE tweets? U.S. income growth has second biggest monthly gain ever Robinhood growth suggests crypto mainstreaming Main discussion: Cathie Wood thinks bitcoin could replace bonds. In this episode, NLW...
13 min
1512
Bitcoin Investing Is ESG Investing
In today's episode, NLW looks at how bitcoin fits with the growing trend of ESG (Environmental, Social, Governance) investing. In it, he:  Argues that ESG investors should disregard the false idea that bitcoin is only used for crime Provides...
24 min
1513
If You Sell Your Bitcoin, Michael Saylor and Ja...
Today on the Brief: Fed Chair Jerome Powell comments on markets and digital currency Cathie Wood’s ARK faces toughest stretch since last September  India’s latest anti-crypto sentiment  Our main discussion: More news on corporate...
12 min
1514
The Most Conservative Regulator in America Just...
On today’s episode, NLW breaks down the final settlement of the New York Attorney General’s case against Tether. He argues that the outcome is extremely positive for the industry, discussing: Why Tether risk became a major source of FUD in 2021...
16 min
1515
Canada's Bitcoin ETF is Soaring: Is A US Bitcoi...
Today on the Brief: Welcome back to the price rollercoaster The latest from China’s digital yuan trial A 3-week sprint to a stimulus package Our main discussion: Canada’s first Bitcoin ETF. NLW discusses: ETF 101 Pros and cons of a bitcoin ETF...
18 min
1516
Should the US Federal Reserve Buy Bitcoin?
On this week’s “Long Reads Sunday,” NLW reads Alex Treece’s recent essay “.” The piece argues the U.S. will inevitably adopt bitcoin as a treasury reserve asset, but by doing so sooner rather than later it can enjoy geopolitical...
14 min
1517
'I Am Not a Cat': The GameStop Hearing Shows Ho...
This week, instead of our normal Weekly Recap, NLW digs into Thursday’s congressional hearings around GameStop, Robinhood and WallStreetBets.  He explores:  Why there was a significant focus on T+2 settlement  Bipartisan agreement on...
22 min
1518
Bitcoin Is Now a Trillion-Dollar Asset: Where D...
Bitcoin is officially a $1T asset. As the price surged over $54,000, the total market cap of bitcoin reached the new all-time high.  In this episode, NLW explores the significance of the milestone, arguing: There has been a slate of good news,...
11 min
1519
How 2,000 Years of Monetary History Led Us to B...
Nik Bhatia is a financial researcher, a CFA charterholder and an Adjunct Professor of Finance and Business Economics at the University of Southern California Marshall School of Business.  Nik’s new book “Layered Money: From Gold and Dollars...
55 min
1520
Coinbase Trades at a $77B Valuation as BTC Head...
Today’s episode of “The Breakdown” analyzes a number of topics across the bitcoin and crypto industry, including: Bitcoin reclaims $50,000 and looks towards a $1 trillion market cap Treasury yields rise, hammering gold but so far having no...
10 min
1521
Is $50,000 BTC the Beginning of a Bitcoin Super...
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...
19 min
1522
The Mainstream Media Narrative Shifts as Deutsc...
Today on the Brief: A follow-up on celebrity in crypto Dapper Labs and BlockFi raising at multibillion dollar valuations Cathie Wood and ARK increase their bitcoin position Our main discussion looks at the latest institutional bitcoin news: ...
12 min
1523
Why Comparing Bitcoin to Visa Doesn’t Make Any ...
This week’s “Long Reads Sunday” is a reading of Nic Carter’s latest essay for CoinDesk “.” -- Earn up to 12% APY on Bitcoin, Ethereum, USD, EUR, GBP, Stablecoins & more. Get started at nexo.io -- Enjoying this content?   SUBSCRIBE...
14 min
1524
Corporate Crypto Makes Government Bans Less Likely
On this edition of the weekly recap, NLW breaks down the entrance of corporates into the crypto space this week, including: Tesla BNY Mellon Mastercard Twitter Amazon He also argues that more corporate actors investing in bitcoin and crypto makes it...
8 min
1525
Why Jay-Z's Bitcoin Trust Matters
On today’s episode, NLW breaks down: The Miami Commissioners vote to start educating people about bitcoin and crypto The Nigerian Senate debate following the Central Bank of Nigeria’s recent crypto ban Why Jay-Z and Jack Dorsey’s bitcoin trust...
14 min