BlackRock's Spot ETF and Why Exchanges Keep Failing You
synopsis
Bitcoin "popped" ~10% in a week. Ian covers the BlackRock spot ETF filing, Damus removing zaps to stay in App Store, Prime Trust going into receivership ($82M hole), and the lesson that third-party custodians are this cycle's catastrophe. The episode also discusses first family road trip to Wilmington NC, beach town economics, and why small businesses need Bitcoin to survive seasonal cycles and inflation.
quotes
"Every Bitcoin that we have or someone else has is Bitcoin that BlackRock can't have" — Ian
"Bitcoin popped. That's what you say." — Mandana teasing Ian
"Don't you sell that. Hold on to it. This ain't nothing." — Mandana to friends
"It ain't yours" — Mandana completing Ian's sentence about not holding your Bitcoin
"Sell your Bitcoin before your baby. Wow, that's some great life advice." — exchange between them
"If you don't hold your Bitcoin... it ain't yours" — the cycle's lesson distilled
topics
BlackRock spot Bitcoin ETF filing — Fidelity, Schwab followingOnly 1 BlackRock ETF ever rejected by SECAvailable Bitcoin supply on exchanges at multi-year lowMichael Saylor/MicroStrategy buying another 10,000 BTC for ~$300MDamus removes zaps to comply with Apple (Jack Dorsey fighting back)Prime Trust in receivership: $82M fiat hole, lost wallet keys, gambled user fundsBeach town economics — seasonal businesses need BitcoinBitcoin as 24/7 market — no circuit breakers"Not your keys, not your coins" as this cycle's lessonFirst road trip with baby Kian to Wilmington, NCWages now a metric on pricedinbitcoin21.com — US average annual wage ≈ 2 BTC