The Bitcoin Collective

Jordan, Alex and Jez, the team behind The Bitcoin Collective and the UK Bitcoin Business Network, sit down for a new unscripted format. Each brings one thing that caught their eye this week, and they talk it through: what Bitcoin Beach and Tooting Market reveal about merchant adoption, how Tether is quietly stacking Bitcoin with US Treasury interest, whether Coinbase has lost its Bitcoin focus, and why AI could put legacy banking systems at real risk.Topics covered:What Joe Nakamoto found at Bitcoin Beach in El SalvadorWhy signing up 15 merchants in Tooting Market was a mistakeWhy the UK's cheap card payments remove the incentive to accept BitcoinWhy UK businesses can't legally offer a discount for paying in BitcoinSquare, Cash App and how the US is driving Lightning adoptionBitcoin cashback cards as a Trojan horse for adoptionEarning Bitcoin on your savings, and the back-of-a-napkin mathsHow Tether uses Treasury bill interest to buy BitcoinWhether Coinbase has lost its Bitcoin focusAI, the rise in cyber vulnerabilities and the risk to legacy systemsWhy scams are getting harder to spotChapters:00:00 Tether Buys Bitcoin00:51 New Podcast Format04:07 Bank Job Book Talk05:20 Weekly Picks Setup05:55 Bitcoin Beach Reality Check07:47 UK Payments Adoption Lessons14:00 Marketplace and Cashback Rewards16:47 Sponsor Bitcoin Business Network17:44 Xapo Interest Paid in Bitcoin20:50 Tether Treasury Strategy25:32 Coinbase UX and Altcoin Focus29:40 Rising Cybersecurity Threats36:53 Scams and Trust Breakdown42:26 Wrap Up and Feedback🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] ALEX:X: https://x.com/AlexGlasseLinkedIn: https://www.linkedin.com/in/alex-glasse-289357a0/FIND JEZ:X: https://x.com/jcastweetLinkedIn: https://www.linkedin.com/in/jez-casey-868a7b3📬 READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice. Any maths discussed in this episode is back of a napkin.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.Why Bitcoin Stickers Don't Mean Bitcoin PaymentsTether Is Buying Bitcoin With US DebtCould AI Wipe Out Your Bank Account?

The pound is designed to lose value. That’s not a conspiracy theory - it’s called an inflation target, and it’s built into the system.Cameron Parry, CEO and founder of Tally Money, joins Jordan at Antidote in London to talk about what sound money actually looks like, why gold and Bitcoin are solving the same problem from different angles, and what it means to hold your savings in something nobody can debase.Check out Tally Money: www.tallymoney.comTopics covered:What Tally Money is — and why you own the gold, not just a claim on itHow Cameron’s understanding of money came through Bitcoin, not traditional financeWhy the blockchain serves Bitcoin the currency, not the other way aroundThe gold vs Bitcoin rivalry — where it came from and why it’s fadingWhether central banks will ever hold BitcoinThe Gordon Brown gold sale and what it tells you about public sector accountabilityWhy official inflation figures don’t match real-world experienceA cup of coffee that cost 80 Tally in 2019 and costs 40 Tally todayHow Tally and Bitcoin complement each other rather than competeWhy paying employees in Tally worked almost too wellWhat it takes to build a sound money product in the UK and get mainstream adoptionChapters:00:00 Intro — In Crypto, There’s Bitcoin and Not Bitcoin01:00 Cameron’s Background — Coinsilium, Stockbroking and the Path to Tally04:00 The Global Financial Crisis and When Billions Became Normal08:00 The World’s First Bitcoin Blockchain Company to IPO — Coinsilium 201511:00 Why the Blockchain Serves Bitcoin, Not the Other Way Around13:00 How Tally Money Was Born — Sound Money for Mainstream Adoption17:00 What Tally Actually Is — You Own the Gold, Not a Claim on It22:00 Was Cameron a Gold Bug Before Tally? No. Here’s What Changed.25:00 Gold vs Bitcoin — The Rivalry, the Maturity, and the Coming Together30:00 Will Central Banks Ever Hold Bitcoin?32:00 Gordon Brown’s Gold Sale and Failing Upwards in the Public Sector37:00 The Debasement Trade — What the Pound Has Lost Since 197042:00 A Cup of Coffee in Pounds vs Tally — Why the Difference Matters47:00 UK Savings Culture and Why People Aren’t Playing the Right Game52:00 Paying Employees in Tally — and Why They Had to Stop57:00 Will Bitcoin Ever Be Pegged to a Gold or Bitcoin Standard?01:01:00 Business Accounts, the Bitcoin Business Network and Rounding Off🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/FIND Cameron Parry:X: https://x.com/CameronJParryLinkedIn: https://www.linkedin.com/in/cameronparryCONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected]📬 READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.The Pound Has Lost 95% of Its Purchasing Power Since 1970. So What Do You Do?“Inflation Is Designed In.” The Tally Money Founder on Why Fiat Is Working Exactly as Intended

Private equity buys a business, loads it with debt, and sells it within five years. Orange Juice wants to buy the business, keep the owner in place, and never sell it at all.Nico Lechuga is a founding partner at Ego Death Capital, a Bitcoin venture fund with around $137 million under management. Alongside fellow Ego Death partners Lyn Alden, Jeff Booth and Andi Pitt, he co-founded Orange Juice, a permanent capital vehicle that acquires cash flow positive businesses and sweeps those cash flows into Bitcoin.The team also includes partners Ruben Zweiban, a former JP Morgan analyst and US Navy SEAL, and Adrian Steckel, the former CEO of OneWeb, plus newly appointed CTO Elias Martinez Cohen, previously an AI infrastructure engineer at NVIDIA and Twitter.Since announcing, more than 150 businesses have reached out.🍊 Find out more about Orange Juice: https://orangejuice.com/Topics covered:Why Orange Juice was designed as a foil to traditional private equity, not a Bitcoin treasury companyHow the Berkshire Hathaway model shaped the owner operator structureWhy they’re raising privately first and proving the thesis before going publicThe gearbox model — how they decide between reinvesting, buying Bitcoin or acquiring more businessesWhich types of businesses they’re targeting and why generational companies keep showing upWhy they’re already open to businesses outside the USNico’s Bitcoin journey — from a Vice article on the Silk Road to Jeff Booth changing everythingHow AI factors into acquisition due diligence without distracting owner operatorsWhy a good Bitcoin solution should work like a light switch — no evangelism requiredChapters:00:00 Intro — There Is a Better Treasury Asset Than Fiat01:00 What Is Orange Juice and Why Was It Built?02:00 Ego Death Capital — The Fund Behind the Idea05:00 The Gap Nobody Had Filled for Cash Flow Business Owners07:00 How Orange Juice Acquires Businesses — The Berkshire Model09:00 Owner Operators, Equity and the No Earn-Out Structure11:00 Why There’s No Time Clock — The Permanent Capital Difference12:00 The Gearbox — How They Decide Where the Cash Goes15:00 Real World Example: A UK Hotel Group and the Bitcoin Question18:00 Which Sectors and Business Types Are Being Targeted20:00 Generational Businesses and the Bitcoin Connection22:00 Why They Went Private First Before Planning a Listing28:00 Will Orange Juice Expand Outside the US?35:00 Will Sweeping Cash Into Bitcoin Become the Norm?38:00 Nico’s Bitcoin Journey — Silk Road, Jeff Booth and the Click Moment47:00 How AI Factors Into Acquisition Due Diligence51:00 Keeping Owner Operators Focused on What They Do Best🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/FIND Nico Lechuga:X: https://x.com/nico_lechugaLinkedIn: https://www.linkedin.com/in/nicolailechuga/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected]📬 READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.They’re Buying Real Businesses, Sweeping the Cash Into Bitcoin — And 150 Companies Have Already AppliedThe Permanent Capital Vehicle Designed to Outlast Private Equity

Pumphreys Coffee was founded in the 1750s. It has been in Stuart's family since 1979, four generations have worked in it, and his first Bitcoin transaction is framed on the wall downstairs.Jordan Walker travelled up to Blaydon, just outside Newcastle, to see the roastery, watch beans go through an open flame, and talk to Stuart about what it takes to build something that outlives you.☕️ Check out Pumphrey's Coffee: https://pumphreys-coffee.co.uk/Topics covered:Why Pumphreys still roasts over a naked open flame when almost nobody else doesThe history of a company founded in the 1750s and bought by Stuart's grandfather in 1979Why the experience around the coffee matters more than the taste of the coffeeWhere AI might actually help a hands-on business, and where it absolutely cannotStuart's Bitcoin journey, including buying the top twiceWhy adding Bitcoin payments through Musqet meant changing almost nothingHow he replied to a customer who complained about Bitcoin and the environmentWhether accepting Bitcoin has actually brought new customers through the doorWhat he thinks it takes for a business to still be trading in 2140Why Bitcoiners are often the most risk-averse people in the roomChapters:00:00 Intro — Bitcoiners Are the Lowest Risk People in the Room01:00 Open Flame Coffee Roasting — How Pumphreys Does It Differently04:00 The Pumphreys Story — Founded in 1750, Family-Owned Since 197908:00 What Pumphreys Actually Does — Roasting, Training, Machinery and Retail15:00 How the Business Has Adapted Over 25 Years20:00 Coffee Trends — What's Coming Next After Matcha23:30 AI and Automation in a Relationship-First Business28:00 The Experience of Coffee — Why Atmosphere Matters as Much as Taste32:00 Stuart's Bitcoin Journey — Buying the Top in 201735:30 Running the Newcastle Bitcoin Meetup36:30 Accepting Bitcoin at Pumphreys — How the Decision Was Made40:00 The Viral Customer Complaint — and Stuart's Reply44:00 Has Accepting Bitcoin Brought New Customers?46:00 Building a Business to Last — Lessons From 275 YearsJoin the UK Bitcoin Business Network here: https://www.joinbbn.com/FIND Stuart Lee Archer:LinkedIn - https://www.linkedin.com/in/stuartleearcherCONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.This Coffee Company Was Founded in the 1750s, Now It Accepts Bitcoin.How a Family Business Added Bitcoin Without Changing Anything

Fernando left his job as VP of Marketing at Blockstream to build a product on his own. Seven months later, still in beta, it was profitable. He has no employees, no investors and no board. Just a fleet of agents and a very clear view of where all this is heading.He joins Jordan Walker to talk about what building actually looks like now, why the hardest part is no longer the code, and what happens to everyone who isn't a builder.In this episode with Fernando:Why the coding is now the easy part, and selling is still the hard partLeaving Blockstream to go solo, and what he doesn't miss about managing a teamThe moment in a demo call that tells you the truthRunning a business on a fleet of agents instead of employeesWhy so much company content has started to sound identicalWhat happens to jobs when firms stop hiring altogetherHolding something scarce when the money supply isn'tChapters:00:00 Coming up01:50 Seeing an early Perception demo04:00 When AI was a glorified Stack Overflow06:00 Does this feel like the early internet?10:00 The trap of feeling productive12:00 Coding is commoditised, selling isn't16:00 Leaving Blockstream to build Perception18:30 Nobody wanted the dashboard21:00 The pivot to agents and MCP25:30 The money moment is the honest moment28:30 Can you lean on AI too much?36:30 What agents actually save you45:30 The real problem with AI slop49:20 Profitable in beta, bootstrapped, solo58:00 Jobs, ten years out01:03:20 Hold something scarce🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/FIND FERNANDO:X - https://x.com/basedlayer?lang=enBitcoin Perception - https://bitcoinperception.comCONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected]📬READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.Nobody Wanted His Dashboard, So He Binned It He Left Blockstream to Build Alone Why Coding Is Now the Easy Part

14.3 million people in the UK hold premium bonds and have never won a single prize. Not £25. Not once.That stat sent Jordan down a rabbit hole this week, and what he found underneath it is worse. 23 million people hold £135 billion in premium bonds, making it the UK's most popular savings product — while the average prize winner is sitting on around £23,400 and 94% of £1 million jackpot winners held over £10,000 in bonds. Then there's the bigger problem: £610 billion of long-term UK cash with no job to do at all.Premium Bonds Article: https://bitcoincollective.co/blog/premium-bonds-why-winning-feels-like-losingIn this solo episode: • Where premium bonds came from in 1956, and why ERNIE has a Bletchley Park connection • The Freedom of Information request that revealed who never wins • Why even winning can still be losing once you account for purchasing power • How premium bonds became the cheapest borrowing the state has • The £610 billion sitting idle, and why the UK has the lowest investing rate in the G7Chapters:00:00 Why premium bonds sent me down a rabbit hole00:55 1956: ERNIE, Colossus and a "squalid raffle"02:00 The UK's most popular savings product02:55 Two thirds have never won a prize03:40 Why the wins go to the already wealthy04:35 Even winning is losing06:15 The cheapest borrowing the state has07:30 £610 billion with no job to do09:15 Rates rose and Britain saved harder11:15 8% vs 33% — and why I talk about Bitcoin🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected]📬READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCEwww.selectedfrequencies.comAvailable now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.

Nic Cary reckons there is still up to £2m of Bitcoin buried in geocaches across Yorkshire. He hid it himself, more than thirteen years ago.He first heard about Bitcoin in 2011, on a small fishing boat on the Long Island Sound. A few years later he moved from the United States to York with a backpack and helped build the first block explorer for Bitcoin out of a two-bedroom flat near the racecourse.That project became Blockchain.com. It now has offices in six countries, an FCA registration, a MiCA licence covering Europe, and a confidential SEC filing ahead of a US listing.In this episode: • The fishing trip that started it • Why the company was built in York rather than London • The paper wallets hidden across Yorkshire, and what they were worth • From block explorer to wallet, and the case for holding your own keys • Polymarket, Snap Markets and tokenised stocks • How to explain Bitcoin without arguing with people • Why machines, not people, may make most payments within ten years • The three things he thinks everyone should readTimestamps:00:00 Coming Up00:40 Intro01:13 Hearing about Bitcoin on a fishing boat in 201106:12 Websites, clams and Pipeline CRM08:42 Why blockchain.com started in York12:46 Bitcoin hidden in geocaches across Yorkshire14:57 What it was worth at the time15:43 From block explorer to building a wallet18:03 Self-custody versus handing your money over20:26 Polymarket, Snap Markets and tokenised stocks22:20 How Nic's approach to explaining Bitcoin changed25:06 Store of value, stablecoins and peer-to-peer cash27:14 Why machines will transact in digital money29:33 FCA approval, MiCA and the SEC filing32:12 Three things everyone should read🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] Nic: X: https://x.com/niccary?lang=en💼 LinkedIn: https://www.linkedin.com/in/ncary/📬READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCELinkedIn: https://www.linkedin.com/in/james-pearcesf/Available now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.

The pound has lost 95% of its purchasing power since 1971. Bitcoin is down 50% from its highs and the mood online is grim. Richard Byworth thinks the bottom is already in, and he's got the receipts to back it up.Jordan sits down with returning guest Richard Byworth to unpack why he believes the market is showing classic seller exhaustion, why family offices are quietly moving into bitcoin, and why the UK's wealthy are heading for the exit.🇬🇧 Join the UK Bitcoin Business Network here: https://bitcoincollective.co/bbn/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] RICHARD:X: https://x.com/RichardByworthREAD OUR NEWSLETTER: https://newsletter.bitcoincollective.co/In this episode:- Why the four year cycle narrative might be doing more harm than goodReading £17 billion of bitcoin selling as a bottom signal, not a warning- Why capital rotating into AI could eventually rotate back into bitcoin- How family offices are being educated on bitcoin without ever mentioning the word- Bitcoin treasury companies, M Nav premiums and where the next bull run could come from- Why the UK is losing its wealthiest people, and what that means for the countryTIMESTAMPS:00:00 Intro — bitcoin is the value trade00:35 Welcome back and catching up02:26 Is the four-year cycle still real07:22 Reading seller exhaustion in the market08:32 AI, SpaceX and the capital rotation debate09:12 The STRC post that caused a stir12:41 Four years on: how far the bottom has moved14:32 Educating family offices on bitcoin20:56 Will institutions dominate bitcoin adoption23:00 A different perspective on the UK from the outside29:44 UK wealth, tax and the talent exodus42:28 Bitcoin treasury companies and the next bull market52:01 European consolidation and liquidity53:19 Do banks see bitcoin as a threat to depositsLISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.Bitcoin's Bottom: Why Richard Byworth Isn't WorriedThe UK Wealth Exodus No One's Talking About⸻EDITED BY JAMES PEARCELinkedIn: https://www.linkedin.com/in/james-pearcesf/Available now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.

Bitcoin is down around 50% from its all-time high and the sentiment is brutal. So is this the bottom? Ben, an analyst at Keyrock, thinks there are real signs it might already be in — and that what comes next is bigger than most people realise.In one of the most detailed conversations the podcast has hosted, Ben joins Jordan to explain why the current drawdown may mark a bottom, why volatility is steadily compressing, and why Bitcoin treasury companies and digital credit could unlock his whole thesis, an entire financial system built on top of Bitcoin as a reserve asset.Topics covered:- Why the largest pools of capital in the world can't hold Bitcoin directly — yet- The signs Ben is watching that suggest this could be a bottom for Bitcoin- Why volatility acts as a capital charge, and why it's in a long-term compression trend- How the shift from traders to long-term holders changed this cycle- Why Bitcoin treasury companies could unlock the entire Bitcoin thesis- What digital credit is and why it could be the most exciting part of the Bitcoin thesis- Why Strategy selling a small amount of Bitcoin was widely misunderstood- Why European treasury companies look cheap — and why that discount is a mirage- Why money backed by Bitcoin may make more sense than Bitcoin itself as moneyTIMESTAMPS:00:00 Intro — Bitcoin is only stomachable for volatility01:00 Welcome and Ben's background at QCP02:00 QCP's shift from market maker to asset manager04:00 Ben's unusual route into Bitcoin via smart contracts08:00 Reasons this could be a cycle bottom13:00 75% of holders are now long-term21:00 Volatility as a capital charge that compresses with price25:00 What sparked the digital asset treasury report27:00 The endgame: a financial system built on Bitcoin30:00 Bringing European Bitcoin treasuries into focus32:00 Two paths to Bitcoin becoming money48:00 Herd mentality in crypto49:00 Why prefs haven't come to Europe yet56:00 Smarter Web's £210m share premium unlock1:01:00 How big could the first issuance be?1:07:00 Final prediction: what will it be called?🇬🇧 Join the UK Bitcoin Business Network here: https://www.joinbbn.com/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] BEN: X: https://x.com/0xbenharvey💼 LinkedIn: https://www.linkedin.com/in/ben-harvey-842495172/📬READ OUR NEWSLETTER: https://newsletter.bitcoincollective.co/LISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCELinkedIn: https://www.linkedin.com/in/james-pearcesf/Available now on YouTube and all major podcast platforms. This episode is for educational purposes only and does not constitute financial advice. Always do your own research.

The mood right now is identical to late 2022. The headlines are the same. The panic is the same. But the world around bitcoin looks nothing like it did back then.Jordan's back after six weeks off the tools — not because things have calmed down, but because this moment feels too familiar to ignore. This solo episode walks through why the current sentiment mirrors the last bear market bottom, what's changed beyond recognition since then, and why going quiet and building is exactly the right move right now.🇬🇧 Join the UK Bitcoin Business Network here: https://bitcoincollective.co/bbn/CONTACT JORDAN:X: https://x.com/JayW132LinkedIn: https://www.linkedin.com/in/jordan-walker-293955106/Email: [email protected] OUR NEWSLETTER: https://newsletter.bitcoincollective.co/Topics covered:- Why mid-2026 feels so much like November 2022 — and what that actually signals- What's changed in four years: BlackRock, sovereign wealth funds, Square, JP Morgan- Bitcoin being declared dead 475 times — and what that pattern actually looks like- Why AI pulling capital makes bitcoin more relevant, not less- The Bitcoin Business Network hitting 100+ UK businesses- What's been built behind the scenes and what's coming very soonCHAPTERS 00:00 Intro — why Jordan's been quiet for six weeks01:06 Where bitcoin is right now02:30 Flashback to November 2022 and the $15k bottom04:30 What's changed in four years — JP Morgan, ETFs, Square, sovereign funds06:30 bitcoindeaths.com — declared dead 475 times08:00 The four-year cycle and shaking out the tourists09:15 AI is pulling attention and capital11:00 Why bitcoin is the one thing AI can't copy12:39 The Bitcoin Business Network — 100+ UK businesses14:30 Why in-person relationships matter in a digital age16:00 New website and removing friction for businesses18:00 A big announcement is coming20:00 Bear markets are for building20:37 What's next — podcast is backLISTEN / SUBSCRIBE:Spotify: https://open.spotify.com/show/06sBiOznJDxuhafDmkE9VK?si=3f0a8bb8abd64eecApple: https://podcasts.apple.com/gb/podcast/the-bitcoin-collective/id1561573613Fountain: https://fountain.fm/show/AYHiNhTTv0HOgGEjRjWNYouTube: https://www.youtube.com/@bitcoincollective?sub_confirmation=1All content provided by The Bitcoin Collective and guests in this episode is for informational and educational purposes only and is not financial, trading, or investment advice.⸻EDITED BY JAMES PEARCELinkedIn: https://www.linkedin.com/in/james-pearcesf/Available now on YouTube and all major podcast platforms.This episode is for educational purposes only and does not constitute financial advice. Always do your own research.