#719: Bitcoin Is Winning Even In A Bear Market with Alex Leishman

This episode examines Bitcoin's institutional shift, Lightning's growth, quantum-security risks, and how AI is changing product teams, custody and strategy.

Key Takeaways

Institutions and businesses are accumulating Bitcoin, shifting supply from individuals; expect governance pressure, continued demand, and evolving custody needs.
Lightning adoption is accelerating—exchanges drive volume (≈10% of Coinbase BTC txns use Lightning)—but wallet UX and merchant/payroll demand limit mainstream payments.
Quantum poses a long-tail threat; pursue conservative post‑quantum planning: test and migrate cold storage first, add post‑quantum support for hot wallets, and coordinate transitions.
Stablecoin yield fights banks: issuers offering yield-sharing and services converting yields into Bitcoin (e.g., River) create alternatives to near‑zero bank deposits.
AI increases engineering productivity and automates busy work yet won't replace core human judgment; hire high‑agency people and deploy agents for targeted acceleration.
Harden custody and usability: adopt collaborative multisig (Unchained), seedless recoverable devices (BitKey), and hardware Faraday/RFID protections; anticipate post‑quantum tradeoffs.

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