Below is a concise summary of the podcast transcript from Episode 1138 of "Bitcoin and," hosted by David Bennett. The episode, aired on August 1, 2025, covers Bitcoin-related news, market updates, and economic insights, with a focus on corporate strategies and global developments. I've organized the summary by key topics for clarity.
Host and Context: David Bennett hosts a shorter-than-usual episode, emphasizing "news you can use" on Bitcoin and related economic factors. He discusses recent events with a mix of analysis, skepticism, and enthusiasm for Bitcoin's role in finance.
MicroStrategy (formerly MicroStrategy) reported stellar Q2 2025 results, with a 46,671% earnings per share beat, driven by their Bitcoin strategy. They hold 628,791 BTC (valued at an average cost of $73,277 per BTC), achieving a 25% Bitcoin yield year-to-date.
The company is reengineering its balance sheet to prioritize Bitcoin, introducing preferred securities for funding and setting clear rules for equity issuance tied to Bitcoin accumulation. Bennett praises this as a model for leveraging corporate treasuries, contrasting it with idle fiat holdings at companies like Apple.
Ray Dalio's Predictions and Exit from Bridgewater:
Billionaire investor Ray Dalio sold his remaining stake in Bridgewater Associates after 50 years, amid predictions of a global debt crisis and economic "heart attack" due to high U.S. deficits and deglobalization.
Dalio recommends up to 15% portfolio allocation to Bitcoin or gold as hedges. Bennett notes Dalio's mixed track record, including past inaccurate forecasts (e.g., 1982 depression prediction), but sees his moves as reducing exposure to traditional markets.
Market and Commodity Updates:
Bitcoin's price dipped to around $115,120, with a market cap of $2.29 trillion, amid broader market declines (e.g., Dow down 1.4%, S&P down 1.72%). This followed a weak U.S. jobs report (only 73,000 jobs added).
Commodities showed mixed results: Oil and gasoline fell, while gold and silver rose. Bennett expresses confusion over Bitcoin's price pressure despite positive news, suggesting it might indicate "late-cycle behavior."
El Salvador's Political and Bitcoin Developments:
El Salvador's parliament approved constitutional reforms for unlimited presidential reelections, extending President Nayib Bukele's term and abolishing runoffs. Critics call it a threat to democracy.
Bennett raises concerns about Bukele's potential halt on Bitcoin purchases (tied to a $1.4 billion IMF loan) and questions why El Salvador needs the loan despite tourism and economic improvements. He promotes a related podcast episode on expat consulting in El Salvador.
Corporate Bitcoin Acquisitions and Strategies:
Anchorage Digital: Acquired 10,000 BTC ($1.19 billion) via over-the-counter trading, signaling institutional adoption and secure storage in cold wallets.
Metaplanet: Plans to raise $3.7 billion through stock offerings to buy up to 210,000 BTC by 2027, following MicroStrategy's playbook with Bitcoin-backed preferred shares.
Coinbase: Bought 2,509 BTC in Q2 2025, bringing their total to 11,776 BTC, reentering the top 10 public Bitcoin holders. Despite a $307 million loss from a data breach, net income surged to $1.43 billion, with plans to expand into tokenized assets.
Other Mentions:
Visa expanded stablecoin support to include PYUSD, USDG, and EURC on networks like Avalanche and Stellar, which Bennett views skeptically as "shitcoinery."
Bennett promotes Leather Mint products (e.g., wallets, belts) as Bitcoin-friendly goods and encourages supporting a "Bitcoin circular economy."
Bennett wraps up by noting the episode's brevity due to his schedule, emphasizing Bitcoin's growing institutional appeal despite market volatility. He urges listeners to stay informed, avoid rash decisions, and support Bitcoin-related content, ending with a call for subscriptions and reviews.
AI Generated Summary
Episode Overview
Main News Highlights
Closing Thoughts