Conservative alt-coin podcast hosts Drew Taylor and Brent Bates put their Texas roots on display in episode 131 of their popular Wild West Crypto Show, titled “Watching The Markets Is Like Watching Cow Patties Dry!”
“I’ll tell you what, I think right now the world could use an hourly cowboy logic, because . . . we need a 2-by-4 to the head for a lot of people. It’s crazy out there,” Bates said, observing the tumults of the political arena and their effect on economic optimism.
But much of the show celebrated a continuing trend of increasing cryptocurrency adoption by market insiders.
“Crypto has got money pouring into it. In fact there’s people — well-regarded people — that are saying crypto’s going to go up to . . . what in five years?” Bates commented.
“A million dollars,” Taylor replied. “We’ve been telling you — initially we said just dip your toe. I have to tell you literally from our very first show we told people learn about this space and put a little bit into it. . . . If you’d have gone and done that, you’d be smiling.”
“We use those highly technical terms of ‘dip your toe,’” Bates added. “We could have done a whole analysis and a whole report of 20 pages, (but) ‘Dip your toe.’”
CryptoCurrencyWire Communications Director Jonathan Keim, who appears in each week’s segment analyzing recent news in the market space, acknowledged alt-coin adoption by other companies making big investments into bitcoin.
Regarding a CoinDesk report about Stone Ridge Asset Management’s more than $100 million investment in bitcoin as part of a billion-dollar spin-off, echoing business intelligence company MicroStrategy in terming bitcoin a “primary treasury reserve asset,” Keim said he thinks the term is going to catch on.
“Institutional asset managers like this one and others are really seeing bitcoin in a new light. They’re even coming up with new terms, like this one,” Keim said. “So, it’s helping everyone understand what bitcoin is and it’s quite frankly getting contagious at this point.”
Taylor also noted a Decrypt report on Fidelity Digital Assets’ turnaround in regard to its views on bitcoin, shedding its adverse opinions three years ago to tout bitcoin as a unique vehicle among investment assets.
“I really think Fidelity nailed it in their research,” Keim said. “Ultimately the research points out how bitcoin is uniquely decoupled from other asset classes. . . . In conclusion, the report said, ‘Bitcoin is a unique, investable asset with compelling differences relative to both traditional asset classes as well as conventional alternative investments.’ And then, just rounding off the sentence, they said, ‘That could make it a beneficial addition to portfolios.’ So they’re kind of hinting, you know, this might be something you want to take a look at.”
The Wild West Crypto Show appears on TV in multiple markets across the country as well as online as a humorous and educational forum for providing information with the intent of reducing some of the consumer wariness about alt-currency. To view the latest episode, which includes CryptoCurrencyWire’s ongoing segment featuring recent news from around the world, visit https://www.ccw.fm/Tldyi
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