Bits + Bips: Why XRP Might Have Been The ‘Most Hated’ Rally Ever - Ep. 744
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I would say the level of inbound I'm getting around digital assets has never been higher, and it's from a new layer of parties that have previously not engaged with me personally on that
topic.
Hi, everyone. Welcome to Bits and Bits, exploring how crypto and macro collide 1 basis point at a time. I'm your host, James Seifert, tradfi archmaester, lord of Bloomberg's end. Today, it's it's just me from the original crew, but before we begin, we have some exciting news. Our team's growing. We're thrilled to welcome 2 new amazing cohosts. They've been on the show before, Noel Acheson, author of Crypto is Macro Now newsletter, and Ram Alwalia, founder and CEO of investment firm Lumida. We had the both of us guests in the past, as I said, and we all thought their expertise and insights woul
Yeah. Hey. Hey, James. Hey, everyone. Super happy to be here. Been a fan of the show. How long has it been running now? Like, 6 months, it feels like. Maybe longer? Time goes quick.
Yeah. It does. It does go quick. We're still not organized, but it's okay. We we get the Well,
I mean, I'm I'm, I know all 3 of you pretty well, and I'm I'm very happy to be here with you guys. I'm head of research at Galaxy and spent 12 years at Fidelity Investments before I joined Galaxy in 2021. So thank you for having me. Happy to be here.
Yeah. Great. Nice nice sweatshirt. Shout out, PubKey. I'll be there tomorrow, ironically enough. Alright. Let's, let's get into it. I mean, the first the first things we'll we'll talk about are, like, the whatever you want. It's it's actually all the stuff on mainstream media, mainstream financials right now, Trump and his nominations and what's going in the macro world. So, basically, what what is your views on what has happened in the world of Trump and what he's going to do in the administration? Are the reasons to believe that Trump's fiscal agenda won't be as aggressive as we initially th
I confess I wasn't very up on my Besant lore when the choice was made, but I've done some digging since then. And the light the market seems to like it, but let's face it. That is what matters. Bond traders seem to be treading gently into the vigilante territory, not exactly, but, you know, making their feelings known, and they seem to like this, which is very good news for not just the bond market, but pretty much all markets. Obviously, Bessent has a hell of a job in front of him, especially when Trump is now threatening a 100% tariffs on anyone that makes a slight little move away from the
I'd echo that. Look. I think Bessent is maybe one of the most impressive treasury secretaries we've seen in 15 or 20 years. Like Noelle, I did some homework after he was nominated. I was looking at his writing and his thought process, and the intellectual caliber of this individual is off the charts. He's not like a former Goldman Sachs executive who's a manager operator. He understands how markets works. He understands the economy, and he's focused on keeping the price of oil down, increasing US production. That helps markets, keeps inflation at bay. He's also focused on a growth agenda, that
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