Gold Meets Bitcoin

The Last Trade

Bitcoin Is 'Dead' Again — That's When You Buy | Checkmate

The Last Trade: On-chain analyst James Check (Checkmate) joins the crew to break down bitcoin's bear market capitulation, what the data says about where we are in the cycle, and why the obituaries being out might be the most bullish signal of all. Bitcoin is down 50% from all-time highs. No single catalyst. No obvious bottom. Checkmate joins the crew to cut through the noise with on-chain data, walking through the exact thresholds he mapped during the recent drawdown and why 50% of the supply being underwater is historically a bottoming signal. The conversation expands into the debasement trade narrative, AI-driven labor displacement, why institutions only need to move a fraction of a percentage point to absorb all sell pressure, and why bitcoin's only job — like gold's — is to not die. 🧠 Chapters 00:00 — Intro & Market Sentiment 02:14 — How James Mapped the Recent Decline 11:32 — What Actually Caused the Drawdown? 15:16 — The Debasement Trade Hasn't Started Yet 22:00 — Gold, Physical Delivery & What It Means for BTC 30:39 — AI, Labor Displacement & Money Printing 44:00 — Institutional Adoption: Just Heating Up 50:00 — Will Critics Ever Admit They Were Wrong? 54:53 — Bitcoin's Only Job Is to Not Die 1:00:04 — Hyperbitcoinization & Why Most People Won't Care 1:07:11 — Deep Value Zone: Every Mean Reversion Model Agrees 1:12:00 — Buy the Whole Bottom, Outro & Disclaimer

The Last Trade

Bitcoin Is Down 50% and No One Knows Why

This episode explores why Bitcoin has fallen 50% while examining the fundamental issues with centralized custody and counterparty risk in the crypto space. OnRamp COO Nick Deloer joins to discuss how Bitcoin's superior monetary properties and multisig technology offer solutions that were never possible with traditional assets like gold.

Final Settlement

Elon Says the Singularity Is Here — Why That Sends Bitcoin to $1M+

This episode explores how Elon Musk's comments about the technological singularity could drive Bitcoin to $1 million, examining the exponential growth potential versus linear thinking. The discussion covers Bitcoin's role as a counterparty risk-free asset amid changing market conditions, the disconnect between mainstream debasement trades choosing gold over Bitcoin, and why long-term holders should maintain conviction despite recent price volatility.

The Last Trade

Gold Is Running Ahead — Bitcoin Is Next (The Great Rotation Explained)

Mel Madison discusses the market rotation from Bitcoin to precious metals in 2026, explaining why gold and silver are outperforming crypto despite his long-term bullish outlook on Bitcoin. He analyzes the impact of the stalled Clarity Act, diversification strategies, and technical patterns showing Bitcoin's resilience at current levels despite headwinds.

Scarce Assets

Gold at $5,000 Is Just the Beginning | Jeroen Blokland

Multi-asset investor Jeroen Blokland explains the massive rally in precious metals and his prediction that gold reaching $5,000 per ounce is just the beginning. He discusses his investment approach combining scarce assets like Bitcoin, physical gold, and quality stocks as a hedge against debt monetization and geopolitical uncertainty.

Final Settlement

BitGo's $2.1B IPO & Silver's Surge: The Sound Money Reset Is Just Starting

This Final Settlement episode covers BitGo's $2.1 billion IPO announcement and the dramatic surge in precious metals markets, particularly silver which has added multiple Bitcoin market caps in recent months. The hosts analyze these movements as indicators of a broader flight to sound money as traditional currency systems face increasing pressure, while discussing the infrastructure being built during Bitcoin's current quiet period.

The Last Trade

Davos Dispatch: Sovereign Debt, Gold, & the Case for Bitcoin

This Davos dispatch episode examines Bitcoin's recent underperformance against gold and argues that gold's massive rally actually validates the thesis for Bitcoin as superior sound money. The hosts discuss how central banks and sovereigns are driving gold demand due to fiat currency debasement concerns, while most people still don't understand Bitcoin's fundamental value proposition as digital gold with superior properties.

Final Settlement

Goldman, State Street, NYSE: The TradFi-Crypto Takeover Is Underway

This Final Settlement episode covers the Digital Asset Clarity Act markup period and the contentious debate over stablecoin yield offerings. The hosts analyze Coinbase's decision to withdraw support from the bill and examine how traditional banks are lobbying against crypto regulations that could threaten their deposit monopoly.

Final Settlement

Inside Venezuela's Regime Change, Global Asset Seizures, Dollarization & Currency Wars

The Final Settlement hosts analyze major developments including Venezuela's regime change and potential 600,000 Bitcoin seizure, while discussing how the US may force dollarization through stablecoins in occupied territories. The episode covers persistent inflation as 2025's dominant theme, with gold, silver, and Bitcoin all surging as scarce assets, plus institutional adoption trends and regulatory shifts heading into 2026.

The Last Trade

2025 Recap w/ Matt Odell: Gold's Run, DAT Reckoning, Quantum FUD + 2026 Predictions

Matt Odell discusses the 2025 Bitcoin market recap, addressing narratives around early Bitcoin holders selling and the healthy distribution of supply to new market participants through ETFs. The conversation explores why Bitcoin underperformed relative to gold despite institutional adoption, examining market cycles and the potential shift from traditional four year Bitcoin cycles to longer timeframes due to market maturation.

Final Settlement

The Truth About Tether, Stablecoins & JPMorgan’s Quiet Bitcoin Bet

This episode examines S&P's downgrade of Tether to weak stability rating due to Bitcoin and gold holdings in reserves, analyzing the $180 billion USDT backing structure. The hosts discuss Arthur Hayes' analysis of Tether's overcollateralization and Paulo Ardoino's response to stability concerns. The episode also covers broader stablecoin market dynamics and institutional Bitcoin adoption trends.

The Last Trade

Max Fear. Max Opportunity. The Bitcoin Bull Market Starts Now.

Bitcoin sentiment has cratered after a 30% drawdown, but the thesis hasn’t changed. Cycles are dead, liquidity is turning, and gold’s strength signals what’s next for BTC. Fundamentals are stronger than ever as custody, rails, and institutional demand quietly build beneath the noise. 🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership. 👉 Inheritance & Trust Planning: https://onrampbitcoin.com/products/inheritance 👉 Institutional: https://onrampbitcoin.com/products/institutional 👉 Business: https://onrampbitcoin.com/products/business 📩 Schedule a briefing: https://onrampbitcoin.com/contact 🎙️ About This Episode Sentiment ≠ fundamentals. The team dissects the drawdown (short-term holder capitulation, cycle anchoring), the macro pivot (QT end, rate-cut path, fiscal dominance), gold’s 2025 lead, BTC in gold terms, and why better rails/custody unlock new cohorts. They also cover AI bubble optics, prediction-market mania, muni BTC pilots, IMF data on fiat depreciation since 1971, and fresh institutional signals (M&A, endowment flows). The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make. 🧠 Chapters 00:00 – Price check and sentiment reset 02:54 – Liquidity over cycles: the real driver 05:18 – Capitulation data and new buyer cohorts 12:36 – Gold leads; BTC in XAU terms 16:52 – Market structure: not a bull yet 24:44 – AI risk: concentration and circular ROI 31:47 – Portfolio mix: gold hedge, improving rails 34:35 – Block rails: pay dollars, settle in bitcoin 39:50 – Levered “treasury companies” vs real adoption 49:35 – Bitcoin muni pilots; IMF on fiat decay 52:56 – Institutional signals: flows and M&A 54:52 – Prediction markets and casino-ified risk 01:05:09 – Outlook: liquidity setup and path forward 💡 Subscribe & Stay Ahead Get Onramp’s weekly Research & Analysis: High-signal insights in bitcoin, macro, and custody. 📩 https://onrampbitcoin.com/research Subscribe to Onramp Media for more: 🎧 The Last Trade | Final Settlement | Scarce Assets

Final Settlement

The Banks Are Here — JPMorgan Just Made Bitcoin Collateral

This episode discusses JPMorgan's groundbreaking decision to accept Bitcoin and Ethereum as loan collateral by year end, marking a significant shift in traditional banking's approach to cryptocurrency. The hosts analyze how this development represents a new epoch in asset collateral progression, moving from gold pre-1971 to treasuries post-1971, and now to Bitcoin. The episode also covers OnRamp's new business custody product for institutional Bitcoin treasury management and multi-institution governance controls.

Bitcoin for Businesses

From Gold Rush to Bitcoin Standard: Inflation’s Coming for Your Balance Sheet

This episode explores Square's launch of Bitcoin payments through their point of sale platform and its impact on business adoption. The hosts discuss how small businesses can use Bitcoin payments to build their first corporate Bitcoin treasury and the custody considerations that become important as Bitcoin holdings grow. They analyze the timing of this launch amid rising inflation and the debasement trade, positioning Bitcoin as both a payment method and treasury asset for businesses.

The Last Trade

Gold Is Pumping, Bitcoin Is Next — Inside the Debasement Trade with James Check

James Check analyzes the current Bitcoin market conditions, discussing the debasement trade and whether traditional four-year cycles are ending. The conversation covers Bitcoin's technical levels, macro liquidity conditions, and the shifting zeitgeist around hard assets like gold and Bitcoin as hedges against currency debasement.

The Last Trade

Wall Street Joins the Sound Money Renaissance

Wall Street's biggest players are finally acknowledging the dollar debasement trade as Bitcoin reaches new all-time highs and gold hits $4,000. The episode explores how major investors like Ken Griffin, Paul Tudor Jones, and Ray Dalio are speaking openly about sovereign risk and the shift from fiat currencies to sound assets like Bitcoin and gold. The discussion covers ETF adoption, practical Bitcoin ownership strategies, and the global transition from inside money to outside money.

Final Settlement

Debasement Endgame: Bitcoin ATHs, Gold Near $4K, & Bonds Bleeding

This episode covers Bitcoin reaching new all-time highs above $125,000 alongside gold approaching $4,000, exploring the growing debasement trade narrative. The hosts discuss how major institutions like Morgan Stanley are now recommending 2-4% Bitcoin allocations as both assets outperform traditional markets amid dollar weakness. They analyze the shift from traditional 2% disaster hedge allocations to 20-25% recommendations as mainstream finance awakens to digital gold concepts.

The Last Trade

The Great Wealth Divide: Why Bitcoin & Gold Are Replacing Bonds

Tyler Neville joins to discuss the generational wealth divide caused by monetary policies since 2008 and explains why scarce assets like Bitcoin and gold are replacing traditional bonds in portfolios. The conversation covers the AI productivity shock's potential impact on labor and financial markets, plus growing institutional appetite for Bitcoin treasury companies and direct Bitcoin investment.

The Last Trade

The Sovereign Shift: Bitcoin, Gold, & Nation-State Game Theory

This episode features Blake Killian, OnRamp's new Chief Marketing Officer, discussing nation state Bitcoin adoption and the Bitcoin Policy Institute's latest research. The conversation explores the relationship between Bitcoin and gold markets, focusing on education and clear messaging as key drivers for mainstream Bitcoin adoption.

The Last Trade

The Last Trade: The Death of Fiat Denominated Venture Capital

Early Riders Venture Fund announces the launch of 'Stables', a Bitcoin-denominated accelerator program providing 2-5 BTC funding and workspace for entrepreneurs. The program aims to attract traditional entrepreneurs to build Bitcoin-focused businesses with sound money principles as the foundation.

The Last Trade

Monetary Reset Is Here: Bitcoin, Gold & the End of the Fed?

This episode explores the ongoing monetary reset with Treasury Secretary Scott Bessant criticizing Federal Reserve policies and their impact on Bitcoin and gold markets. The discussion covers how quantitative easing has distorted price signals, favored asset owners, and created regime uncertainty around inflation. The hosts analyze Bitcoin custody security concerns and recommend strategic allocation between Bitcoin and gold as protection against dollar devaluation.

The Last Trade

The Sound Money Supercycle: Gold & Bitcoin vs. the Dollar

Corporate lawyer and Bitcoin analyst Jesse Cobberick examines the recent underperformance of Bitcoin treasury companies like MicroStrategy, which have surprisingly lagged behind Bitcoin itself over recent months. The discussion explores the sound money supercycle thesis and analyzes why leveraged Bitcoin corporate strategies have not delivered the expected outperformance that investors anticipated.

The Last Trade

The 100-Year Reset with Luke Gromen: Gold, Bitcoin, and Fiat’s Demise

Luke Gromen explains why we are living through a once in a century global monetary reset and how major nations are repositioning themselves. He analyzes why gold and Bitcoin are both leading year to date performers as neutral reserve assets while traditional sovereign bonds lose their risk free status. The discussion covers central bank gold accumulation, the impact of Russian reserve sanctions, and why hard assets are essential for preserving wealth during this historic monetary transition.

The Last Trade

The Big Red Button That’s Destroying Your Future

Joe Bryan, creator of What's the Problem and former derivatives trader at Goldman Sachs and Morgan Stanley, discusses the root causes of inflation and societal problems affecting home prices, family formation, and economic stability. He explains his transition from traditional finance to becoming a Bitcoin educator and advocate, emphasizing how Bitcoin addresses the fundamental monetary system issues rather than just treating symptoms.

Final Settlement

Bitcoin & Gold Are Money, Everything Else is Credit

This episode examines Harvard University's historic $17 million Bitcoin ETF allocation through their $53 billion endowment, representing a market-weight 0.2% position. The hosts discuss how major institutions are treating Bitcoin and gold as similar sound money assets, with Bitcoin often receiving larger allocations than gold. The conversation explores the broader implications for institutional adoption and whether other university endowments will follow Harvard's lead in gaining Bitcoin exposure.

The Last Trade

Trump Opens the Floodgates: 401K Bitcoin Supercycle

Onramp Bitcoin Dynasty Trust Services Full deep dive report from Onramp The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make. 00:00 – Trump’s Executive Order on 401Ks and Bitcoin Access 03:30 – Private Equity, Retirement Plans, and Regulatory Implications 06:45 – ETF Access Constraints Across Major Banks and Wirehouses 09:20 – Impact of Passive Flows on Bitcoin Market Structure 13:30 – Debating the Future of Bitcoin Cycles and Sovereign Adoption 18:10 – Custodial Concentration and Systemic Risk Scenarios 21:45 – Macro Deterioration: Housing, Wages, and Regulatory Burdens 28:30 – Global Institutional Interest and Strategic Reserve Momentum 35:25 – Digital Asset Treasury Companies vs. Bitcoin Fundamentals 45:00 – Tether, Stablecoin Infrastructure, and Regulatory Trajectory 52:00 – Gold Revaluation, Real Yields, and the Cost of Capital 55:30 – Launching Onramp’s Bitcoin Dynasty Trust Services 01:05:45 – Closing Reflections, Outro, and Disclaimer

Scarce Assets

Veteran Fund Manager: Bitcoin and Gold Will Crush Traditional Portfolios

Veteran fund manager Yurun Bachland, founder of the Blockland Smart Multi-Asset Fund, explains his investment strategy combining Bitcoin, gold, and quality equities to preserve wealth in the current macro environment. The discussion covers global liquidity trends, Bitcoin institutional adoption, and why traditional portfolio construction no longer works in today's market conditions.

Scarce Assets

The Great Repricing: Gold, Bitcoin, and the End of Easy Money

This episode features Josh Far, founder of Scottsdale Mint and Wyoming Reserve, exploring the convergence between precious metals and Bitcoin as sound money alternatives. The discussion covers institutional adoption of both gold and Bitcoin, the flaws in current monetary policy, and how nation states are reclaiming ownership of strategic scarce assets. Far shares his 20 years of experience in precious metals and his bullish perspective on Bitcoin as a complement to traditional store of value assets.

Final Settlement

Efficiency Is Alpha: AI Disruption & the Return to Sound-Money Investing

Clay Norris, venture capitalist and Bitcoin maximalist, joins to discuss the intersection of traditional venture capital and sound money investing. The episode covers Robin Hood's major crypto announcements including tokenization of private companies like SpaceX and OpenAI, and explores how Bitcoin principles are influencing broader capital allocation strategies. The discussion examines the growing demand for private market access and the role of efficiency in generating alpha returns.

Final Settlement

Texas Goes ALL-IN on Bitcoin: Front Running Federal Accumulation

Presented collaboratively by Early Riders & Onramp Media… Final Settlement is a weekly podcast covering the underlying mechanics of the bitcoin protocol, its ongoing development and funding, and real-world applications of the technology. 00:00 - Introduction and Overview of Recent Developments 02:48 - Stablecoins and Regulatory Changes 06:43 - Market Dynamics and Institutional Trust 10:56 - Texas Bitcoin Reserve Legislation 14:42 - Custody Solutions and Security Risks 20:57 - Technological Revolutions and Market Perception 32:14 - Navigating Competition in Crypto Markets 33:39 - The Zero-Sum Nature of Bitcoin Trading 36:33 - Counterparty Risks and Market Dynamics 38:34 - The Role of Institutional Adoption in Bitcoin's Future 41:59 - Understanding Bitcoin's Volatility and Market Behavior 45:29 - The Future of Money and Digital Assets 46:39 - The Impact of Capital Constraints on Business Growth 49:36 - Bitcoin as a Conservative Capital Strategy 52:06 - Building Sustainable Businesses in a Bitcoin Economy 56:43 - Counterparty Risk in Gold and Bitcoin Markets

Final Settlement

Long Chaos, Short Trust: Bitcoin is the Modern Safe Haven

This Final Settlement episode examines Bitcoin's performance during recent geopolitical events, highlighting its resilience as it quickly recovered from a dip to $103K back over $107K. The hosts discuss how Bitcoin has emerged as a modern safe haven asset, outperforming traditional assets like gold during crisis periods, and explore the bullish impact of stablecoin adoption on Bitcoin's long-term prospects.

Scarce Assets

Multipolar Investing: Geopolitics, Risk, and the End of the 60/40 Portfolio

Rob Larity and Jacob Shapiro from Bespoke Group explain how the unipolar era is ending and regional power blocks are reshaping global trade and investment strategies. They discuss why US treasuries are no longer risk-free assets and how scarce, liquid assets like Bitcoin and gold are becoming essential as trust in sovereign debt erodes. The conversation covers not just what assets to own, but critically how and where to own them in this new multipolar world.

The Last Trade

The Bitcoin Arms Race, U.S. Strategic Advantage, and a Changing World Order with Matthew Pines

Matthew Pines from the Bitcoin Policy Institute explores how Bitcoin is evolving from a store of value into a tool of US statecraft amid global geopolitical competition. The discussion covers strategic Bitcoin reserves, bit bonds, and recent US-Saudi deals that signal a broader remonetization of assets like gold and Bitcoin. Pines analyzes how major powers are positioning themselves in an emerging Bitcoin arms race that could reshape the global monetary order.

Scarce Assets

Inside the Monetary Reset: Why Gold and Bitcoin Must Go Higher

David Foley and Larry Leard analyze the ongoing monetary reshuffling that favors sound money assets like gold and Bitcoin over traditional fiat currencies. They discuss rising market volatility, the looming sovereign debt crisis, and how recent tariff announcements are accelerating the move away from a US dollar centric system. The conversation covers why both gold and Bitcoin are positioned for significant repricing as trust in traditional financial systems continues to collapse.

Final Settlement

Beyond Store of Value: Bitcoin and Lightning Are the Real FinTech Opportunity

Pierre Corbin of Flash Payments and Graham Kriezik of Voltage discuss Bitcoin's evolution beyond digital gold to realize its full potential as peer-to-peer electronic cash. The conversation explores how Lightning Network and other Bitcoin protocols enable superior payment systems compared to traditional fintech solutions. They examine whether Bitcoin would fail if it remained only a store of value versus becoming a true medium of exchange as originally envisioned in Satoshi's whitepaper.

The Last Trade

The U.S. Just Kicked Off the Bitcoin Gold Rush—Here’s What It Means

This episode analyzes Bitcoin's recent price action around $80,000 and the impact of Trump's executive order on the cryptocurrency market. The hosts discuss $5.2 billion in Bitcoin ETF outflows since February and why Bitcoin is still perceived as a risk asset despite its long term store of value properties. They explore how global market volatility affects Bitcoin pricing and the early stages of institutional adoption.

The Last Trade

The Last Trade E002: Gold, bitcoin, and the Fed with Larry Lepard

The Last Trade

The Last Trade E015: Bitcoin + NOSTR + AI: Utility Beyond Digital Gold with Max Webster

The Last Trade

The Last Trade E054: Gold, Bitcoin, & Counterparty Risk with Mark Valek

The Last Trade

Fed Speak, Gold ATHs, DeepSeek, State-Level Adoption, & BTC Dominance

The Last Trade

Fort Knox Is Empty, Bitcoin Is the Reserve

This episode explores Bitcoin and gold as reserve assets amid speculation about a Fort Knox audit and discussions of physical delivery demand in gold markets. The hosts analyze Bitcoin price consolidation, counterparty risks in ETFs versus self custody, and institutional adoption trends including Paul Tudor Jones' Bitcoin position.