In this episode, Rizzo & Nolan Bauerle dive into the race between MicroStrategy and BlackRock to become the largest holders of Bitcoin. They compare Michael Saylor’s singular, leveraged BTC accumulation strategy with Larry Fink’s sprawling ETF-driven approach at BlackRock. They explore how each firm’s structure, incentives, and regulatory realities impact their ability to scale Bitcoin ownership—and debate whether MicroStrategy could evolve into a Bitcoin-native version of BlackRock, or if BlackRock could out-stack Saylor’s empire. Enjoy! — Follow Nolan: https://x.com/countbtc Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Timestamps: (00:00) Introduction (01:54) Strategy vs BlackRock (06:56) Key Differences (13:22) Saylor’s History (16:47) Regulatory Advantage (21:38) Can BlackRock Become Strategy? (31:00) Can BlackRock Become Strategy? (32:20) BlackRock & Global Markets (36:28) Who Can Fully Embrace BTC? (43:06) First to 1M BTC — Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

In this episode, Swedish MP Dennis Dioukarev discusses his viral proposal for Sweden to adopt a strategic Bitcoin reserve—an unprecedented move in the European Union. He breaks down the flawed logic of the Swedish Central Bank's dismissal, explains how Bitcoin aligns with values of freedom and transparency, and outlines the political path forward through Sweden’s governing coalition. Dennis also warns about the risks of CBDCs, defends individual financial sovereignty, and highlights the global race among governments quietly accumulating Bitcoin. Enjoy! — Follow Dennis: https://x.com/DennisDioukarev Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (01:36) Sweden's Bitcoin Proposal (06:46) Ledger Ad (07:33) European Union's Stance on Bitcoin (09:32) Swedish Politics & Bitcoin Proposal (18:08) Global Bitcoin Adoption (20:40) Global Bitcoin Adoption (22:42) Swedish Bitcoin Goals & CBDCs (27:17) The Digital Euro & Stablecoins (30:51) Local and National Bitcoin Initiatives (32:12) Dennis’ Bitcoin Journey (36:34) Future of Bitcoin & Crypto — Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please always do your own research & speak to a financial advisor before thinking about thinking about putting your money into these crazy markets.

In this episode, Bitcoin Developer Sergio Lerner joins the show to discuss Bitcoin’s latest development battles–from the OP_RETURN data wars to the future of programmable Bitcoin through BitVMX. He argues that filtering Bitcoin transactions restricts innovation, outlines the real-world financial use cases enabled by protocols like RSK, and explains how new Bitcoin Layer 2s can enhance scalability and security without altering Bitcoin’s base layer. We also touch on Bitcoin’s long-term viability, mining centralization, and the cultural rift with broader crypto. Enjoy! — Follow Sergio: https://x.com/SDLerner Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks — Timestamps: (00:00) Introduction (03:39) Debate on Data Use in Bitcoin Blockchain (08:02) Technical Aspects of Bitcoin Transactions (11:20) Core Ad (12:12) Layer Two Solutions and BitVMX (21:59) Core Development and Alternate Implementations (30:28) Mining Centralization Concerns (32:37) Core Ad (33:32) Historical Bitcoin Debates (34:15) Understanding OP_RETURN (37:46) Cultural Divide in Crypto (40:48) Financial Inclusion and Bitcoin (47:33) Future of Bitcoin and Layer 2 Solutions (56:51) Bitcoin's Long-Term Viability (01:00:56) Final Thoughts — Disclaimer: Nothing said on Supply Shock is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed.

In this episode, Ryan Selkis joins the show for his self-proclaimed 'last crypto interview' to discuss his whistleblowing about Mt. Gox’s insolvency, his role in securing Trump's support, and the controversy around him bringing the culture wars to crypto. We also delve into the FTX collapse, crypto vs. Bitcoin, and more. — Follow Ryan: https://x.com/twobitidiot Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (02:34) Early Days in Bitcoin and Crypto (03:46) The Mt. Gox Whistleblowing Incident (04:43) Ads (Core, Ledger) (06:12) Digital Currency Group & Messari (07:48) Political Climate and Crypto Regulation (14:39) FTX Collapse and Policy Response (18:57) Ads (Core, Ledger) (20:35) Trump's Mar-a-Lago Event & Crypto’s Political Divide (25:11) Culture Wars and Political Tactics (44:37) Support for Trump in the Crypto Industry (46:14) Ethics and Scams in Crypto (48:03) Bitcoin vs. Crypto (57:29) The Core Problems in Crypto (01:12:22) AI, Truth & Justice (01:18:42) Ryan’s Crypto Legacy — Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please do your own research and speak to a financial advisor before putting your money into these crazy markets.

In this episode, Chris Guida unpacks the OP_RETURN debate, argues that Bitcoin must protect its cultural values to survive, and warns that without strong norms, Bitcoin risks becoming Ethereum 2.0. He challenges the idea that Bitcoin is truly permissionless, critiques miner incentives, and defends filtering policies as vital to preserving decentralization. — Follow Chris: https://x.com/cguida6 Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Timestamps: (00:00) Introduction (01:44) Debate Overview and Context (02:34) The OP_RETURN Debate (05:34) Ethereum Rollup and Fraud Proofs (11:20) Bitcoin's Permissionless Nature (14:10) Core Ad (14:55) Bitcoin's Permissionless Nature (21:28) Miners and Network Consensus (35:11) Core Ad (35:59) Economic Incentives and Bitcoin's Future (42:18) The Role of Decentralization in Bitcoin's Value (44:04) Bitcoin's Value System vs. Ethereum's Downfall (45:28) The Impact of Scammers on Bitcoin and Ethereum (50:14) The Importance of Self-Custody and Integrity in Bitcoin (55:57) The Debate on Bitcoin's Filters and Transaction Validity (01:03:30) The Future of Bitcoin and Crypto Innovations (01:16:56) Debunking Misconceptions About Spam Control (01:18:10) Moral Arguments and Their Impact on Bitcoin (01:20:08) The Role of Node Runners in Spam Filtering (01:22:41) Debate on Bitcoin Core's Policy and Developer Responsibility (01:24:01) The Future of Bitcoin and Node Implementations (01:29:49) Comparing Bitcoin Core and Knots (01:40:41) The Arms Race in Spam Filtering (01:45:21) Final Thoughts and Reflections — Disclaimer: Nothing discussed on Supply Shock should be considered investment advice. Please always do your own research & speak to a financial advisor before thinking about thinking about putting your money into these crazy markets.

In this episode, cryptography legend Phil Zimmermann—creator of PGP—reflects on his role in the original “crypto wars,” the mixed societal impact of Bitcoin, and why he’s both intrigued by and cautious about Bitcoin’s role in human rights, crime, privacy, and global monetary systems. He applauds Bitcoin’s resistance to autocracy and surveillance but critiques its volatility, energy use, and criminal applications—offering a nuanced view of its legacy compared to PGP. Enjoy! — Follow Phil: https://philzimmermann.com/EN/background/index.html Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (02:45) PGP & Strong Cryptography (07:36) Digital Cash Breakthrough (09:20) Mixed Effects of Technology (13:03) Ads (Core, Ledger) (14:27) Bitcoin’s Mixed Effects (17:47) Proof-of-Work & Early Innovations (23:06) Patents & Bitcoin (25:34) Bitcoin’s Good vs Bad (28:43) Criminals & Crypto (31:26) Improving Bitcoin (35:34) Ads (Core, Ledger) (37:00) Improving Bitcoin (39:49) Bitcoin vs Fiat (43:56) Bitcoin Consensus (47:31) Building Support via Courts vs Politics (51:34) Laws Against Software (53:39) Bitcoin Shortcomings (55:49) Privacy & PGP (59:40) Bitcoin Energy Use (01:03:58) Is Bitcoin as Successful as PGP (01:05:26) Autocracies & Democracy (01:13:07) Bitcoin as a Pocketbook Issue — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Janusz joins the show to discuss the growing tension in the Bitcoin community over layer two (L2) scaling, especially around rollups like Citrea. We also unpack a proposed change to the OP_RETURN limit, the ideological split between Bitcoin core devs and cultural purists (aka "filters"), and the implications for Bitcoin’s long-term scalability and security models. Enjoy! — Follow Janusz: https://x.com/januszg_ Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks — Timestamps: (00:00) Introduction (01:45) Bitcoin Debate: L2s, Citrea & Rollups (14:56) Core Ad (23:22) The Case for Citrea (29:32) Growing the Bitcoin Economy (33:51) Bitcoin Fees & Security (40:11) Core Ad (43:56) Babylon, Staking & Economic Security (01:00:02) Spark Network and State Chains (01:03:33) Comparing Spark and Lightning Networks (01:09:03) Future Prospects and Industry Trends — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Guy Malone and Adam Simecka join the show to discuss Roswell, New Mexico starting a strategic Bitcoin reserve, Bitcoin’s role in local governance, and how Roswell is approaching its Bitcoin custody. We also delve into building the new Fort Knox, Adam’s history in Bitcoin, and more. Enjoy! — Follow Guy: https://x.com/RichNFrenz Follow Adam: https://x.com/AdamSimecka Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (02:14) Roswell Embraces Bitcoin Reserve (08:42) Legal and Practical Challenges (10:33) Ads (Core, Ledger) (11:57) Legal and Practical Challenges (14:50) Inspiration for Bitcoin Donation (18:17) Building off of Roswell’s Bitcoin Reserve (20:09) Understanding Permissionless Donations (21:56) Ads (Core, Ledger) (23:22) Bitcoin's Role in Local Governance (25:43) Strategic Bitcoin Reserves and Property Taxes (30:19) Future of Bitcoin in Government (32:15) Adam’s Intro to Bitcoin (34:12) Roswell’s Bitcoin Custody & Security (38:06) The New Fort Knox — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Rob Hamilton of Anchorwatch joins the show to discuss his company serving Bitcoin insurance to individuals and businesses, the corporate adoption narrative dominating this cycle, and the insurance and custody challenges for corporations holding Bitcoin. We also delve into shifting culture and values in crypto, whether the financialization of Bitcoin is a good thing, mapping the Bitcoin cycle top, and more. Enjoy! — Follow Rob: https://x.com/Rob1Ham Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks — Timestamps: (00:00) Introduction (01:43) AnchorWatch Bitcoin Insurance (07:57) Multi-Signature Custody (11:46) Blockchain Insurance (13:48) Core Ad (14:34) Bitcoin Repayments & FASB (19:18) Corporate Bitcoin Adoption & Insurance (24:53) Insuring All Bitcoin (26:25) The Corporate Adoption Narrative (33:55) Shifting Values & Culture In Crypto (35:22) Core Ad (36:10) Shifting Values & Culture In Crypto (42:42) Stablecoins (44:43) Nation State Narrative (46:43) Is Corporate Adoption Good? (54:27) Bitcoin Financialization (58:48) Bitcoin Cycle Top? — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Hunter Beast joins the show to discuss the quantum threat to Bitcoin, his BIP-360 proposal to address the existential problem, and the spectrum of Bitcoiners that are more or less vulnerable. We also delve into balancing Bitcoin rights and principles with crucial updates, the development process getting BIP-360 implemented before Q-Day, and more. Enjoy! — Follow Hunter: https://x.com/cryptoquick Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (01:35) The Quantum Threat to Bitcoin (05:33) Pre vs Post-Quantum Cryptography (10:25) The Big Threat of Quantum (12:17) Ads (Core, Ledger) (13:42) BIP-360 (20:06) Spectrum of Vulnerability (27:32) Q-Day Emergency (30:52) Quantum Recovery Proposals (34:03) Ads (Core, Ledger) (35:30) Quantum Recovery Proposals (Cont'd) (37:34) Securing Bitcoin Property Rights (43:20) Sometimes Bitcoin Needs to Change (45:18) Balancing Crucial Updates with Core Principles (53:00) Bitcoin’s Social Contract & Soft Forks (57:11) BIP-360 & the Bitcoin Development Process (01:07:41) Learn More About Hunter — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, Rizzo and Nolan discuss Cantor, SoftBank, Tether and Jack Mallers teaming up to create a competitor to Strategy and the vision for their new company Twenty One. We also delve into the shifting focus in Bitcoin from Main Street to Wall Street, the narrative dominating this cycle, and more. Enjoy! — Follow Nolan: https://x.com/countbtc Follow Michael: https://x.com/mpmcsweeney Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Core is the Bitcoin Everything Chain—unlocking trustless Bitcoin Staking to power the future of Bitcoin DeFi. Core empowers Bitcoin holders to earn secure, sustainable yield while retaining full control of their assets. Start staking your Bitcoin and earn real yield: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (01:42) Cantor Joins SoftBank & Tether (05:58) Competing With Strategy (09:13) Company Details (12:47) Masayoshi Son (15:35) Ads (Core, Ledger) (17:00) Twenty One’s Plan & Vision (26:04) Superior Vehicle To MSTR? (33:56) Ads (Core, Ledger) (35:23) Wall Street Over Main Street? (44:55) The New Cycle Narrative (51:29) Final Thoughts — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, James O'Beirne joins the show to discuss the core theoretical and developer problems Bitcoin needs to address, the evolving vision for Bitcoin, and how the modern day crypto ecosystem grew from Bitcoin limitations and experimentation. We also delve into the leadership problem in Bitcoin, the hostile approach to Bitcoin developers and upgrades, and more. Enjoy! — Follow James: https://x.com/jamesob Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: https://ignition.coredao.org/blockworks Stake your Bitcoin with Core: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. — Timestamps: (00:00) Introduction (01:32) Inside Bitcoin Development (06:39) Evolution of Bitcoin Development (11:41) Bitcoin Problem Solving (17:54) Ads (Core, Ledger) (19:08) Bitcoin Problem Solving (24:41) The Evolving Vision for Bitcoin (30:51) Bitcoin Experimentation & the Crypto Ecosystem (40:09) Ads (Core, Ledger) (41:30) Bitcoin Leadership Problem (47:25) Attack Against Developers (53:06) Embracing Bitcoin’s Core Purpose (58:24) OP_CAT & CTV/CSFS (01:03:34) Revisiting Bitcoin Block Size (01:08:15) How to Measure Bitcoin Success (01:12:35) Bitcoin Security (01:13:57) The Problem with the Problems (01:19:38) Join Us At Permissionless — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, we discuss China and Asia reevaluating their crypto policy, McDonald’s shareholders pushing for Bitcoin Treasury plans, and Trump & El Salvador President Bukele meeting at the White House. We also delve into Trump’s newest crypto venture, and the Supreme Court ruling allowing Trump to fire head’s of independent agencies, and more. Enjoy! — Follow Nolan: https://x.com/countbtc Follow Michael: https://x.com/mpmcsweeney Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: https://ignition.coredao.org/blockworks Stake your Bitcoin with Core: https://stake.coredao.org/blockworks — Timestamps: (00:00) Introduction (02:37) Evolving China & Asia Crypto Policy (11:54) Should McDonald’s Buy Bitcoin? (16:07) Core Ad (16:42) Should McDonald’s Buy Bitcoin? (Con't) (21:47) Bukele & Trump Meet (25:37) State Bitcoin Adoption (27:42) Bukele & Trump Meet Pt.2 (32:25) Core Ad (33:07) Trump’s New & Past Crypto Ventures (42:56) Is the Trump Admin Good For Crypto? (47:58) Trump Taking Power Over Independent Agencies (57:44) Final Thoughts — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Grant McCarty of the Bitcoin Policy Institute joins the show to discuss his early political engagements and origins of BPI, challenges and opportunities around implementing crypto legislation, and the Strategic Bitcoin Reserve. We also delve into advancing Bitcoin as a debt instrument, the evolving political landscape, and more. Enjoy! — Follow Grant: https://x.com/grant_mccarty Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: https://ignition.coredao.org/blockworks Stake your Bitcoin with Core: https://stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at https://Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at https://ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:20) Founding the Bitcoin Policy Institute (03:43) Early Political Engagements (07:52) Strategic Bitcoin Reserve (13:05) Policy Implementation and Challenges (13:54) Ads (Core, Ledger, Ledn) (15:27) Policy Implementation and Challenges (Con't) (27:21) Ads (Core, Ledger, Ledn) (29:26) Broader Cryptocurrency Legislation (32:34) SBR & Crypto Legislation (37:30) Bit Bonds & Advancing Bitcoin Debt (45:54) The Political Landscape and Bitcoin (48:40) Reflections on Politics and Bitcoin Advocacy (51:26) Conclusion and Future Outlook — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, inventor of blockchain Scott Stornetta joins the show to discuss developing the first digital timestamping system, the key innovations and limitations of Bitcoin’s design, and why Bitcoin has not yet succeeded as real money. We also delve into his critique of proof-of-work, his thoughts on other crypto projects like Ethereum, stablecoins, the importance of creating a digital identity system, and more. Enjoy! — Follow Scott: https://x.com/ScottStornetta Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:53) Discovering the Bitcoin White Paper (03:34) The Foundations of Digital Timestamping (07:00) The Evolution of Blockchain and Bitcoin (14:43) Ads (Core, Ledger, Ledn) (16:17) The Evolution of Blockchain and Bitcoin (Con't) (17:46) Challenges and Criticisms of Bitcoin (22:27) The Cypherpunks and Digital Cash (29:42) The Future of Blockchain Technology (39:16) Scaling Bitcoin (42:20) Bitcoin's Economic Value and Success (47:24) Ads (Core, Ledger, Ledn) (49:30) The Role of Stablecoins and Future Cryptocurrencies (01:06:43) Identity and Blockchain (01:14:43) Reflections on Blockchain's Impact and Future — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

This week, we discuss whether we’re in a bull or bear market, Circle preparing for an IPO, and Fidelity giving the green light to crypto retirement investments. We also delve into GameStop buying Bitcoin, Eric Trump launching his American Bitcoin mining business, and more. Enjoy! — Follow Austin: https://x.com/KeepM3Weird Follow Nolan: https://x.com/countbtc Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (00:49) Bull vs Bear Market Debate (06:56) GameStop and Companies Buying Bitcoin (09:50) Bitcoin as a Store of Value (13:51) Space Adventures of Bitcoin Pioneers (14:10) Ads (Core, Ledger, Ledn) (15:43) Space Adventures of Bitcoin Pioneers (Con't) (21:07) Upcoming Circle IPO (24:21) Stablecoins Akin to the Printer? (27:41) Stablecoins & Geopolitical Implications (35:09) Ads (Core, Ledger, Ledn) (37:14) Bitcoin in Retirement Accounts: A Bullish Move? (41:36) The De-Banking Phenomenon and Its Impact (48:26) The Future of Bitcoin Mining in the US (53:23) Final Thoughts — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Bill Barhydt joins the show to discuss Michael Saylor saying he may burn the keys to his Bitcon before dying, crypto becoming a partisan issue with Trump’s embrace, and why the future of banking is decentralized. We also delve into why Ethereum has lost its way, Bitcoin vs the various L1s, and more. Enjoy! — Follow Bill: https://x.com/billbarX Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. Use code SUPPLY10 for 10% OFF! https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:35) Debating Michael Saylor's Bitcoin Strategy (09:16) Noble Goals of Bitcoin & Decentralization (16:33) Ads (Core, Ledger, Ledn) (18:06) Using & Passing Down Bitcoin Fortunes (Con't) (21:40) Bitcoin's Role in Government and Economy (30:20) Legislation and the Future of Banking (31:58) The Future of Decentralized Banking (34:45) Ads (Core, Ledger, Ledn) (36:50) Ethereum's Architectural Challenges (41:19) Bitcoin vs. Alternative L1s (53:49) The Future of Fiat and Digital Currencies (57:05) Market Predictions and Final Thoughts — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Bitaxe founder Skot joins the show to discuss the new wave of affordable Bitaxe miners, the permissionless nature of Bitcoin mining, and why proof-of-work is the ideal consensus mechanism. We also delve into the odds of mining a block, centralization in Bitcoin mining, and more. Enjoy! — Follow Skot: https://x.com/skot9000 Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction to Supply Shock (02:59) Understanding Bitaxe and Its Impact (06:05) The Open Source Movement in Bitcoin Mining (10:52) Ads (Core, Ledger, Ledn) (12:25) The Open Source Movement in Bitcoin Mining (Con't) (13:16) Building and Buying Bitaxe Miners (20:19) The Future of Decentralized Bitcoin Mining (22:43) The Economics of Proof-of-Work (25:28) Ads (Core, Ledger, Ledn) (27:33) The Economics of Proof-of-Work (Con't) (31:44) Levels of Success for Bitaxe (34:51) Government Involvement in Bitcoin Mining (36:53) Challenges in Bitcoin Mining Pools (44:59) The Centralization of Chip Manufacturing (48:55) Identifying Bitcoin Miners on the Blockchain (56:28) The Future of Bitcoin Mining — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Trace Mayer joins the show to discuss monetary sovereignty and the fourth turning, the government acquiring Bitcoin as a strategic reserve, and US-China economic warfare. We also delve into the historical perspective on digital currencies, early Bitcoiner’s navigating their immense wealth, and more. Enjoy! — Follow Trace: https://x.com/TraceMayer Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx Supply Shock Newsletter: https://blockworks.co/newsletter/supplyshock — Join us at Permissionless IV June 24th - 26th. https://blockworks.co/event/permissionless-iv — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:17) Early Bitcoin Advocacy and Libertarian Roots (03:44) Monetary Sovereignty & the Fourth Turning (09:04) Ads (Core, Ledger, Ledn) (10:37) Bitcoin as a Strategic Reserve (14:20) Geopolitical Implications of Bitcoin (19:22) U.S. and China Economic Warfare (24:06) Stablecoins & Global Financial Power (25:54) Ads (Core, Ledger, Ledn) (28:00) Technological Evolution in Bitcoin (29:48) The Changing Nature of Warfare (31:25) Bitcoin & Money Optionality (34:04) Historical Perspectives on Digital Currency (39:44) The Future of Bitcoin and Bitcoin Wealth (48:04) Responsibilities of Bitcoin Wealth Holders (51:00) The Fight for Freedom and Liberty — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

In this episode, Cory Klippsten joins the show to discuss the inner workings of the crypto scamblings, the difference between Swan and other crypto exchanges, and the political shifts in Washington. We also delve into the future of Coinbase and VCs, stablecoins, debanking, and more. Enjoy! — Follow Cory: https://x.com/coryklippsten Follow Rizzo: https://x.com/pete_rizzo_ Follow Supply Shock: https://twitter.com/SupplyShockBW Follow Blockworks: https://twitter.com/Blockworks_ Join Supply Shock Telegram: https://t.me/+SpmLg6P_QcgxNDcx The Bitcoin Historian Newsletter: https://bitcoinhistorynewsletter.com/ — Join us at Digital Asset Summit 2025 March 18th - 20th. USE CODE SHOCK10 FOR 10% OFF general admission! https://blockworks.co/event/digital-asset-summit-2025-new-york — Bitcoin DeFi is here. Stake, bridge, swap and earn real yield on Core - Bitcoin’s consumer chain and staking layer. Join Ignition and get onchain: ignition.coredao.org/blockworks Stake your Bitcoin with Core: stake.coredao.org/blockworks Ledger, the global leader in digital asset security, proudly sponsors Supply Shock. As Bitcoin adoption grows, Ledger celebrates 10 years of securing over 20% of the world’s crypto. Buy a LEDGER™ device now for true self-custody and peace of mind in securing your Bitcoin. Devices are also available in Bitcoin orange. For every device ordered in BTC Orange, we’ll donate $5 to brink.dev. Buy now at Ledger.com. Need liquidity without selling your Bitcoin? For 6+ years, Ledn has been the trusted choice for Bitcoin-backed lending. With transparency, security, and trust at our core, we help you access your BTC’s wealth while HODLing. Discover what your Bitcoin can do at ledn.io/borrowing. — Timestamps: (00:00) Introduction (01:57) State of Bitcoin and Crypto Today (07:21) The Inner Workings of Crypto Pump and Dumps (10:40) Ads (Core, Ledger, Ledn) (12:14) Corey's Journey from VC to Bitcoin (17:51) Swan Bitcoin vs. Crypto Exchanges (20:39) Future of Coinbase and Crypto VCs (24:03) Bitcoin Movement and Political Shifts (29:01) Ads (Core, Ledger, Ledn) (31:07) Stablecoins and Government Involvement (33:41) Debanking and Chokepoint 2.0 (36:20) Washington & Bitcoin's Strategic Position (44:49) Bitcoin's Integration and Adoption (48:17) Closing Thoughts and Future Prospects — Disclaimer: Nothing discussed on Supply Shock should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.