Episode Details

Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, is back and his new book makes the case that Bitcoin is now a legitimate asset you’d be foolish to ignore -- written by someone who spent years as a skeptic. He walks us through what changed his mind, and where he thinks this all goes next.

We cover:

• Why the Bitcoin ETFs are outperforming nearly everything in Q3
• What happened two hours after the Bitcoin ETF crossed $100 billion in 2025
• Why he thinks the government ends up buying stocks, and what that means for everyone else
• Why he still only recommends 3% Bitcoin allocation, and what would change that
• What he found when he tried cold storage himself
• Who he says is stealing Bitcoin’s best argument right now

Follow Eric Balchunas on X https://x.com/EricBalchunas 

----

Order Natalie's new book "Bitcoin is For Everyone," a simple introduction to Bitcoin and what's broken in our current financial system: https://amzn.to/3WzFzfU

----

SHOW PARTNERS

Borrow against your Bitcoin without selling it. Ledn offers Bitcoin-backed loans built for serious holders, with rates that get lower as your loan size increases. With Ledn's custodied loan product, your Bitcoin is held in custody and not lent out. Ledn has operated through multiple market cycles without a loss of client assets and publishes Proof of Reserves so you can verify what they hold.

Get 0.25% off your first loan at ledn.io/natalie. Terms apply — see the site for details.

----

Bitdeer Technologies Group (NASDAQ: BTDR) powers AI and Bitcoin mining infrastructure with 3 GW of secured global energy — and owns the entire stack, from equipment manufacturing to data centers to proprietary orchestration software. Learn more at https://www.bitdeer.com 

----

Explore Bitcoin mining as part of your tax and alternative investment strategy. Own the equipment. Keep 100% of the Bitcoin it produces. Fully managed in the U.S. Learn more and get 1 month of free hosting: https://www.AbundantMines.com/natalie 

----

Bitgo is the digital asset infrastructure company trusted by institutions worldwide for regulated, insured custody, trading, settlement, and liquidity. BitGo now offers that same institutional-grade, insured qualified custodian to individuals—completely free! Learn more at https://www.bitgo.com/natalie

----

Learn about multisig self-custody without a seed phrase. Download Bitkey Today and use my promo code STORIES to get 10% off the new Bitkey. This episode has been sponsored by Bitkey: https://bitkey.world/STORIES

----

Master Bitcoin self-custody and gain peace of mind with 1-on-1 training: https://www.thebitcoinway.com/natalie?utm_source=partner-natalie&utm_medium=podcast

----

With BitcoinIRA, you can invest in bitcoin 24/7 inside a tax-advantaged IRA. Choose a Traditional IRA to defer taxes, or a Roth IRA for tax-free withdrawals later. Take control of your future with BitcoinIRA:

Listen Now