Why Crypto Has a Good Long-Term Setup Right Now: Bits + Bips
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Hi, everyone. Welcome to another episode of Bits and Bips, the interview. My name is Steve Ehrlich, head of research at SharpLink and also your host. And I'm here today with Rob Haydick, general partner at Dragonfly, to discuss everything happening in Iran, its ramifications for crypto, and the broader tradify markets, as well as a few other key topics impacting crypto today. So welcome, Rob.
Hey, Steve. Thanks for having me.
Yeah. Absolutely. So a lot to dive into today, but before we start, let's just take a brief moment to hear from some of the sponsors who make the show possible.
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Okay. So one quick thing before we begin again. Nothing on the show is financial or investment advice. For full disclosures, please see unchained.com backslash bits and bips. And, now with Rob, with all that out of the way, let's kinda, like, just dive right into it. Market is today amidst the the usual turmoil when there's some big, source of agita in the world, the, Israeli and US attacks on Iran. Oil is up, I believe, over $80 a barrel. Gold is up. The dollar's up. Bitcoin is actually kinda holding steady even though it's it's not kinda keeping pace with some of the other safe havens. So ju
Yeah. So it's an interesting time, obviously, for crypto but in the mortal, like, macro environment. And this was true before the, you know, kind of escalation in Iran. I I think, actually, I've been stopping, or I have not been calling it a war, but I think Pete Hegseth and Trump both called it a war in the last twenty four hours as well. And so I think we can start calling it a war in Iran. You know, over the weekend, we actually saw, I think, crypto hold up pretty well, surprisingly. And despite the fact that, you know, global equity markets were all down overnight, I think the I think we o
Yeah. And it's I I think a really good sort of illustration of of that turmoil that you're talking about is what hap is what's happening with the rates on The US ten years, because they're they're continuing to to go down. And it it sort of seems a little, like, counterorthodox in a world where the where the dollar's going up. So what what do you make of that?
Yeah. I I think what's, like, very clear is that there's the the market is concerned about accelerating inflation. Right? And, like, I I don't think there's any doubt in that. I think there's also the market is concerned about the fact that growth might slow and we might have a you know, in this stagflationary period could come. But at the same time, you look at, you know, Kevin Warsh coming in office. Right? And he should take office at the Fed, like, you know, call it, like, mid May. Right? And so I think, like, May 15 ish. And, you know, the the question that the markets I'm trying to figur
Yeah. I think so too. And I I believe I actually briefly misspoke with the way I phrased the first question because yields are actually going up right now, which is sort of what you would not expect. Like, bonds obviously, they move inversely with bond prices, and you would think bonds would be going up along with the dollar, but they're going in opposite directions, wh
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