“One of the things I was hearing all the time when I was in the banking world was ‘OK, but this bitcoin thing, it doesn’t have any intrinsic value,’” said Ambre Soubiran, CEO of cryptocurrency market-data startup Kaiko.
“And this is something to which I obviously completely disagree,” she continued. “How can you say that having a system that enables permissionless transference and a decentralized and secure way to digitally transfer ownership [doesn’t have value]? Just that system and the fact that it works and that it has been working for 10 years has value – and that’s the intrinsic value in my eyes.”
Soubiran spoke with CoinDesk for the latest episode of Bitcoin Macro, a pop-up podcast series featuring the speakers and themes of CoinDesk’s upcoming Invest: NYC conference on Tuesday, Nov. 12.
The event will explore bitcoin’s role in the financial system as it finds its place in the global macro community. No longer written off as some ignorable niche, more people are asking: Is bitcoin a macro asset? Is it a safe-haven asset? How will it perform in the next recession?
In this episode of Bitcoin Macro, CoinDesk’s head of strategy, Nolan Bauerle, talks with Soubiran about:
- The “macro” origins of bitcoin.
- The shifts in the bitcoin narrative over time.
- Why the ICO boom was a seminal moment for external markets to gain more interest in the cryptocurrency space.
- Why the role of bitcoin as a safe haven is contextual to local politics and economics.
- Why HODLing behavior shows the promise of bitcoin as a future safe haven.
- The immediate-term risks to bitcoin in the case of a global recession.
- What order-book data suggests about the state of the markets.
Listen to the podcast here or read the whole transcript below.
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