How Cory Klippsten Would Decide How to Secure Bitcoin Post-Coldcard
Episode publishedPodcast: UnchainedUnchained
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The alternative would be to change the rules of Bitcoin, like your theorem or something. Like, that would be the most stupid own goal in the history of Bitcoin to just steal the coins and break the rules of Bitcoin. So dumb.
Hi, everyone. Welcome to Unchained. You're now hype resource for all things crypto. I'm your host, Laura Shin. Thanks for joining this live stream. We'll first take a quick word from the sponsors who make this show possible. This episode is brought to you by one inch Aqua, the shared liquidity layer from one inch. Back multiple liquidity positions with one wallet balance and keep your tokens in your wallet until a swap fills. See how it works at 1inch.com/aqua. Today's guest is Corey Klipsten, founder and CEO of Swan. Welcome, Corey.
Hi, Laura. Thanks for having me on.
Yeah. Nice to see you again. Let's start, with Bitcoin. A couple weeks ago, we saw that the Bitcoin price shot up after treasury secretary Scott Besson said that the treasury would aggressively double its long term government debt buybacks from a max of $2,000,000,000 to at least $4,000,000,000 per operation. And ever since then, we've seen Bitcoin kind of at this 80 k level at sometimes, you know, above it. Now it's slightly below. There's been comments about how this price move could potentially signal the end of the bear market. There's others who are not convinced, and I'm wondering what y
Yeah. Well, first off, I hope we finish with Bitcoin too because, you know, it is my favorite subject. And, yeah, it's it's interesting that you led with that because there have been a lot of folks, preferring other potential catalysts for what kinda kicked this off. But I also marked that best in speech as being the thing that did it. It seemed pretty obvious when you kind of looked at the timing of it and it basically just led straight into a bit of a liquidation cascade for the shorts that got caught offsides. But what's interesting about that move is it was just supported by a lot of spot
Well, I did also want to ask because we are seeing that, you know, there's quite a lot of demand for Bitcoin ETFs. There's been about $3,000,000,000 in inflows over the past two weeks. And at the same time, it looks like, you know, on chain indicators are are showing movement toward exchanges. So, like, what does that say to you when you see, you know, those segments of the market acting in that way?
That's interesting. So I guess you're saying that some of the crypto exchanges have sellers that are moving coins on and are gonna do something with it or might be preparing to do something with it. Yeah. I don't know. I we don't see it, so I don't I don't have any data that shows people moving coins to, to sell at Swan.
Yeah. I'm not sure if it's like yeah. It it's not as big as the ETF, you know, indicators.
Inflow. Yeah. That's interesting. I honestly don't have much of an opinion on that. I guess you could you could see that maybe some people, maybe the people that kind of bought the bull market would be looking to peel some off and, you know, they're they're getting back to breakeven or something like that. So I I think if you kinda take the cur oh, I you know, there was another interesting number which lends a little bit of credence to that, 88 k volume hump that we'll have to get through at some point. And I think it was that as of a few days ago, the average price that, ETF buyers purchased
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