Bitcoin crossed the $100,000 mark, only to slump back down on Tuesday, sparking debates about what’s next for the crypto markets. In this episode, James Seyffart and Alex Kruger are joined by Charles Edwards of quant fund Capriole Investments to break down the macro trends shaping Bitcoin’s trajectory. From Trump’s inauguration to the Fed’s looming decisions on quantitative tightening, they analyze the key factors influencing risk assets. Plus, they unpack the premium on MicroStrategy’s BTC holdings, the future of AI agents in crypto and whether AI agent swarms might someday hire humans, and their bold predictions —supercycle? SOL ETFs?—for 2025.

Show highlights:

• 01:54 Why bitcoin broke the $100K level again
• 07:28 How the markets will react to the inauguration of Donald Trump as President
• 19:09 What factors will affect the Fed’s next decision on rates
• 26:38 What the premium of MSTR to its BTC holdings should be
• 34:37 Why they all hate the current version of AI agents
• 43:19 Why Charles likes Ethena and ENA
• 45:49 Alex’s and Charles’ thoughts on what to expect in 2025: supercycle incoming?
• 50:01 Alex’s analysis on the market corrections and what they teach us
• 57:34 Whether James believes the spot Solana ETF will be approved this year

Hosts:

• James Seyffart, Research Analyst at Bloomberg Intelligence
• Alex Kruger, Founder of Asgard

Guest:

• Charles Edwards, founder of Capriole Investments 

Links

• Capriole Investments | Update #58
• MicroStrategy just bought another $100m in Bitcoin on path to $2bn spree – DL News
• With AI Agents Now Trading Crypto, What Does Their Future Look Like?

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