Why This Wall Street CEO Says Bitcoin’s Price Isn’t Nearly High Enough

Tad Smith, a Wall Street CEO and strong proponent of the global liquidity framework, joins The Last Trade on May 1st to explain why Bitcoin's current price remains dramatically undervalued given the macro environment. Tad argues that the six-to-eight week surge in global liquidity—telegraphed by gold's historic run to $3,500—is now flowing into Bitcoin, which he views as the definitive lagging liquidity-sensitive asset poised for a major repricing. He contrasts Bitcoin's April performance (up 12%) favorably against a flat NASDAQ, noting that Bitcoin's immunity to tariff uncertainty and economic cycle sensitivity made it a standout asset during a month of extraordinary market stress. The episode covers the liquidity philosophy of analysts like Michael Howell and Raoul Pal, why the chop consolidation of late 2024 mirrors past pre-breakout patterns, and why Bitcoin is now the clearest expression of the global sound money trade.