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What Bitcoin Did with Peter McCormack


Mar 31, 2021

Location: Remotely
Date: Friday 26th, March
Company: lynalden.com
Role: Macroeconomist

This month we have seen the markets signal an expected increase in inflation; while bond prices are a good indicator, Lyn Alden explains that just looking at bonds or the Consumer Price Index (CPI) does not tell the whole story. Price changes can vary wildly in services, commodities, and especially asset prices, but inflation affects different people in different ways.

Outside of inflation, Bitcoiners have been looking closely at the Grayscale Trust (GBTC) recently and specifically the premium. I asked Lyn why people would pay less (or more) than the market price of Bitcoin for shares of GBTC. 

There are several reasons that GBTC is down recently, one of which is the potential approval of a Bitcoin ETF. Canada recently approved a Bitcoin ETF, with significant demand. 

An ETF in the United States is still being held up by regulators, despite increasing applications from institutions like Fidelity. But the rumour is one is right around the corner, and it would likely have significantly more demand than Canada's. 

In this interview, I talk to Lyn Alden, a macroeconomist and Lyn Alden Investment Strategy founder. We discuss bond yields, the effects of the rising inflation rate, the GBTC premium, and potential Bitcoin ETFs.