Episode Details

The Last Trade: Vijay Boyapati, author of The Bullish Case for Bitcoin, joins to argue the bottom is in on what he calls a relatively shallow bear market, why the $100K-era whale distribution into ETF hands sets up a stronger base for the next run, what Charles Schwab onboarding 40 million clients through a Bitcoiner-led trading platform means for adoption, the Clarity Act expected to pass in the next month or two, and where Michael Saylor's stretch preferred-share strategy is starting to add real risk to Bitcoin.

---

🔸 Connect with Onramp: The leader in resilient, fault-tolerant Multi-Institution Custody for secure, enduring bitcoin ownership.

👉 Onramp Finance: https://onrampbitcoin.com/finance

👉 Sign up for Genesis: https://onrampbitcoin.com/finance#gen..

📩 Schedule a consultation: https://onrampbitcoin.com/consult

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset… in the digital age, it's The Last Trade that investors will ever need to make.

🎙️ About This Episode

Vijay Boyapati, author of The Bullish Case for Bitcoin, joins Jackson and Michael to walk through where Bitcoin sits in this "everything-but-Bitcoin" rally and why he's still bullish. He frames the current drawdown as a shallow bear market compared to 2014, argues the bottom is in, and explains why the $100K-era whale distribution (Galaxy alone reportedly sold $9B) actually sets up a stronger base because Bitcoin is now in the hands of ETF holders with a 2-4% allocation and an $80-100K cost basis. Vijay also covers the Charles Schwab crypto platform rolling out to 40 million brokerage clients (led by a senior Bitcoiner exec), the Clarity Act expected to pass within the next month or two, the political-capture moment marked by Sherrod Brown's unseating, and why Michael Saylor's third-level financial engineering through stretch has found product-market fit (mostly retail, ~80% of demand) but is starting to introduce leverage risk into the Bitcoin system. Plus a brief tangent on AI as a personal productivity superpower.

🧠 Chapters

00:00 - Introduction to Bitcoin Sentiment

02:57 - Current Market Dynamics and Bitcoin's Performance

05:46 - Comparative Analysis of Past Bear Markets

09:05 - Opportunity Cost and Investment Strategies

11:58 - AI vs Bitcoin: Market Dynamics

15:12 - The Role of ETFs and Institutional Adoption18:12 - Whale Behavior and Market Psychology

21:04 - The Future of Bitcoin: Adoption and Growth

24:13 - Regulatory Landscape and Political Capture

34:03 - Political Capture and Adoption Dynamics

36:00 - The Role of Retail in Bitcoin Adoption

38:04 - The Clarity Act and Its Implications

40:02 - The Future of Bitcoin Adoption

44:01 - Treasury Companies and Market Dynamics

51:49 - Financial Engineering and Risk Management

59:13 - The Impact of AI on Personal Productivity

💡 Subscribe & Stay Ahead

Get Onramp's weekly Research & Analysis:

High-signal insights in bitcoin, macro, and custody.

📩 https://onrampbitcoin.com/research

Subscribe to Onramp Media for more:

🎧 The Last Trade | Final Settlement | Scarce Assets