In this episode, Alex Thorn, Head of Research at Galaxy, explores the implications of states attacking bitcoin and discusses how the U.S. can support bitcoin. He analyzes potential catalysts for the U.S. government buying bitcoin and questions if Nvidia and mega-cap tech are in a bubble. The conversation covers bitcoin’s stability and volatility, the prospect of MicroStrategy in the S&P 500, and when more companies might adopt similar strategies. He also addresses another wave of CPI inflation, Balaji’s $1,000,000 bitcoin prediction, the beliefs of MMTers, and what drives bitcoin cycles. The episode concludes with discussions on bitcoin scaling, contrarian beliefs, risks to bitcoin, and Alex's Unchained and Bitcoin Commons rap.SUPPORT THE PODCAST:→ Subscribe→ Leave a review→ Share the show out with your friends and family→ Send us an email podcast@unchained.comTIMESTAMPS:00:00:00 Introduction00:01:52 “Attacking bitcoin will harm america more than bitcoin.”00:04:35 How can America support bitcoin?00:08:15 Catalyst for U.S. government buying bitcoin00:10:08 Is Nvidia and mega cap tech a bubble?00:13:52 Bitcoin’s stability and volatility00:15:42 Microstrategy in S&P 500?00:18:01 When will more companies copy Microstrategy?00:19:37 Different corporate bitcoin strategies00:20:50 When may bitcoin become less volatile?00:26:50 Why do academics and economists still disregard bitcoin?00:28:35 Will bitcoin be obvious in hindsight?00:30:20 Is another wave of CPI inflation coming?00:32:15 Are assets going up regardless of decreasing or increasing rates?00:34:47 Balaji’s $1,000,000 bitcoin prediction in 90 days00:37:26 MMTers—do they believe what they say?00:39:50 What drives bitcoin cycles? Halving, macro or something else?00:42:37 Bitcoin was not just a ZIRP phenomenon00:45:06 S2F and power law models00:47:38 Research at Galaxy00:51:48 Will bitcoin scale on Lightning or a different L2?00:56:20 What’s something you believe that most bitcoiners would disagree with?00:57:58 What’s the biggest risk to bitcoin?01:02:42 Alex’s Unchained, Bitcoin Commons, and Joe rap01:04:03 Closing thoughtsWHERE TO FOLLOW US:→ Unchained Twitter: https://twitter.com/unchainedcom→ Unchained Linkedin: https://www.linkedin.com/company/unchainedcom → Unchained Newsletter: https://unchained.com/newsletter → Joe Burnett’s Twitter: https://twitter.com/IIICapital→ Alex Thorn’s Twitter: https://x.com/intangiblecoins