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Bitcoin as a Safe Haven

Introduction to Adam and Sean

Bitcoin's New All-Time High

Institutional Bitcoin Adoption

Blockstream's Transition to Finance

Blockstream's Mining Note

Liquid Security Tokens and Sideswap

Addressing Market Gaps and Recruiting Sean

Sean's Background and Early Pension Fund Involvement

Socializing Bitcoin to Pension Boards

Skybridge Bitcoin Fund

Urgency around Bitcoin

Bitcoin Adoption is Still Early

Bitcoin's Performance vs Expectations

Spot ETF and BlackRock

Excesses of DeFi

Current Cycle and Influences

Bitcoin Technology Goes Through S-Curves

Bitcoin Treasury Companies

Japanese and US Bond Yields

Recognizing a Weak Credit System

Pristine Collateral

Battery Finance

Bitcoin Collateralized Lending

Battery and Andrew

Cypherpunk Ideals

Bitcoin Market Instruments

Bitcoin Mortgage

Custody Model

Access to the Global Financial Market

Wholesome Incentives and Weaponized Greed

Pensions and Underfunding

Sean's Familiarity with California Pensions

Bitcoin as an Asymmetric Risk Reward Opportunity

Bitcoin Percentage of Total Market

Bitcoin and the Masses

Public Perception of Bitcoin

Bitcoin Helping Others

Cypherpunk Banking Stack

Opting out of the Hidden Tax of Inflation

Gap Between Haves and Have-Nots

Tether and Stablecoins

Property Rights with Public Keys

Reallocate Your Bitcoin

Dependable Hard Money

Underappreciated Private Keys

Human Right to Preserve

Adoption and Money

Digicash and Cypherpunk

Competing Chomiand Mints

Lightning as Internet of Money Connection

Wholesome Incentives

Community Concepts

Collusion

Rehypothecation and Derivatives

Fractional Behavior

Rails

Liquid and Bitcoin Technology

Error Prone

Security of Small Business Loans

Bearer E-Cash Trade

CMSTR

Mexico

Liquid

Capital Markets

Diligence

Bitcoin, Liquid

Multi-Siq

Switch

Careers

Financial Markets

Commodities

YMCA

Resume

Commodity Trader

Switchboard

The Game

New Job

Market History

High School

Brought that up

Different Things

The Floor

Commodity Traders

Cbot Traders

Sailing

Market Activity

Reading from Left

Sheldon

Advantage

I'm Little

Underweight

Predictions

Mega

A New Time

Persistent Buyers

News Flow

Marty sits down with Adam Back (CEO of Blockstream) and Sean Bill (CIO at Blockstream) to discuss institutional Bitcoin adoption, the evolution from cypherpunk ideals to financial infrastructure, pension fund investment strategies, the emergence of Bitcoin-collateralized lending products, and the development of second-layer solutions like Lightning Network and Liquid that are building the foundation for a Bitcoin-native banking system.
Adam Back on Twitter: <a href="https://x.com/adam3us">https://x.com/adam3us</a>
Sean Bill on Twitter: <a href="https://x.com/macrocrunch">https://x.com/macrocrunch</a>
Blockstream: <a href="https://blockstream.com/">https://blockstream.com/</a>
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TFTC: A Bitcoin Podcast

#624: Building the Bitcoin Banking Stack with Adam Back and Sean Bill

martybent@fountain.fm

OpenSats

Fountain