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Bulletproofing Bitcoin: Multi-Institution Custody with Michael Tanguma | SLP660

Bulletproofing Bitcoin: Multi-Institution Custody with Michael Tanguma | SLP660

Stephan Livera Podcast vor 1 Jahr

0:00

1:17:12

In this conversation, Stephan Livera and Michael Tanguma explore
the current landscape of Bitcoin, focusing on the challenges of
self-custody, the role of custodians, and the emergence of
multi-institution custody solutions. They discuss the importance
of education in the Bitcoin space, the dynamics of Bitcoin
treasury companies, and the unique opportunities for Bitcoin
adoption in the Middle East. The conversation emphasizes the need
for evolving security measures as Bitcoin adoption increases and
the complexities of integrating Bitcoin with traditional finance.

Takeaways

The onboarding process for Bitcoin is complex and requires
education.

Self-custody is challenging for many individuals, especially
those with significant wealth.

Institutional investors often prefer custodial solutions due to
perceived security.

Multi-institution custody offers a balance between security and
accessibility.

The Bitcoin ecosystem is evolving with new custody solutions to
meet market demands.

Education about Bitcoin and custody is crucial for wider
adoption.

The perception of Bitcoin's security is influenced by historical
events like FTX.

Individuals often conflate self-custody with the need for trusted
intermediaries.

The future of Bitcoin custody may involve advanced technologies
like Miniscript.

Meeting clients where they are in their understanding of Bitcoin
is essential. Nobody kidnaps billionaires for their equity
portfolio.

Bitcoin changes the dynamic of theft and kidnappings.

Most people can't think about outperforming Bitcoin.

Liquidity killed all soundness in business unit economics.

Everything is good for Bitcoin, but not for individuals.

Bitcoin is a perfect fit for commodity-rich countries.

Bitcoin is the solution they've been looking for.

We need to be prepared for $250,000 Bitcoin.

Think about security aspects and privacy elements.

Timestamps:

(00:00) - Intro

(01:03) - Where are we currently with Bitcoin adoption?; Growing
demand for Bitcoin

(03:50) - The evolution of custody solutions

(09:05) - Why collaborative custody isn't enough

(13:57) - How effective is Miniscript and Timelock for
safeguarding Bitcoin?

(16:32) - Risks & tradeoffs to consider while self-custodying
Bitcoin

(20:10) - Sponsors

(22:38) - Multisig Vs Multi-Party Computation (MPC) Wallets

(28:41) - How does Multi-Institution Custody work?; Security
dynamics

(35:20) - Is the user really in control of their Bitcoin?

(38:09) - Sponsors

(42:57) - What are the costs & threshold to custody with
Onramp?

(45:45) - What is ‘Early Riders’?; Bitcoin is the hurdle rate

(57:15) - Are Bitcoin Treasury Companies good for Bitcoin?

(1:01:37) - Can treasury companies sustain their mNAV above
1?

(1:08:30) - The growing adoption of Bitcoin in the MENA region

(1:15:13) - Closing thoughts

Links:

https://x.com/MTanguma

https://x.com/onrampbitcoin

https://x.com/early_riders

Sponsors:

Bold Bitcoin

CoinKite.com (code LIVERA)

Lana by Galoy

Stephan Livera links:

Follow me on X: @stephanlivera

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