Bitcoin Breaks Below $100K: Is It Over? | REKT Vision (November 14, 2025)

Long-term investment strategist and co-founder of GMO Jeremy Grantham has made a name for himself as a bubble spotter. In this interview with Mike Green of Logica Capital Advisors, Grantham argues that although we are again in a market bubble, it has an entirely different make up than prior bubbles and is almost devoid of the opportunity that these periods of misallocation historically provide. As a result, he sees opportunities as few and far between in public markets. With the exception of emerging markets and the greening of the economy, an endeavor that he believes is a societal necessity, he encourages investors to look towards venture. Together, Grantham and Green also debate China's position in Grantham's emerging market thesis and the green revolution, the pollution paradoxes of greening the economy, and the merits of societies and forms government that incentivize cooperation among people and risk taking in the form of early stage venture capital. Key Learnings: Emerging markets are the only place that Grantham sees clear opportunity in public markets. Using COVID response as a case study, Grantham worries about America’s potential to solve the problem of climate change. He also argues that if not for venture capital, American innovation would be non-existent. Recorded on November 18, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

1 Jan 20211h 25min

Boaz Weinstein, founder and CIO of Saba Capital Management, made a name for himself at Deutsche Bank in the early days of credit derivatives. Since leaving to start his own fund he has continued to make a name for himself as a master of credit derivatives and relative value. In this interview with Real Vision’s Ed Harrison, Weinstein discusses how the current environment of tight spreads for pristine balance sheets and vulnerable companies alike is presenting some interesting relative value opportunities. Harrison and Weinstein also discuss Bill Ackman's recent reup on the same big CDS trade that has helped Saba return over 70% YTD, the Fed’s role in credit markets and credit ETF liquidity problems, and the opportunities Weinstein is seeing in closed-end funds. Key Learnings: The credit of companies with close to zero percent chance of defaulting is trading at the same prices as companies with serious COVID risks is presenting RV opportunities. Closed-end funds trading at discounts to NAV are also presenting rare opportunities for yield in this low-rate environment. Recorded on November 23, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

31 Des 20201h 8min

Venture capitalist Keith Rabois, a general partner with Peter Thiel's Founders Fund, is widely known for his early-stage startup investments and his executive roles at PayPal, LinkedIn, and Square. He sits down with Real Vision CEO and co-founder, Raoul Pal, to discuss the evolution of innovation in Silicon Valley over the last two decades, highlighting its entrepreneurial spirit and the revolutionary power of technology. They dive into the shifts in consumer behavior amid the coronavirus pandemic, the IPO market boom, the rise of SPACs, and how COVID-19 could transform higher education. Recorded on September 28, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

30 Des 202055min

Tyler Winklevoss, CEO and co-founder of Gemini, and Cameron Winklevoss, president and co-founder of Gemini, join Real Vision CEO Raoul Pal to discuss how they first discovered Bitcoin, their exploration into other crypto assets, and market psychology. They explain the importance of network effects for Bitcoin, noting that it is a type of social network. The Winklevoss brothers share their grand vision for Gemini and how they plan to shepherd the next wave of adopters away from legacy finance and fully into crypto. Key Learnings: The crypto asset class is very small and, because of this, institutional investors have been unable to get exposure to it. Bitcoin is a very young asset with enormous upside potential. Many people are just starting to get their feet wet in crypto, and the Winklevoss brothers believe that eventually people will leave the legacy financial systems fully for crypto infrastructure with Gemini helping to facilitate this migration. Recorded on December 7, 2020 Learn more about your ad choices. Visit podcastchoices.com/adchoices

29 Des 20201h 8min

Chamath Palihapitiya, CEO of Social Capital, gives Raoul Pal, Real Vision CEO, an inside glimpse of the seismic forces that are radically transforming the investment landscape — from SPACs and tokenization to data autonomy and virtual learning. Palihapitiya argues that old structures of capital formation, which prioritized buybacks rather than Research & Development (R&D) and "efficiency" rather than resiliency, will give way to a new future in which fintech companies will replace "too big to fail" banks, green energy will de-escalate geopolitical tensions, and tokenization will serve as a digital ledger for every financial transaction. Palihapitiya and Pal discuss the role of Bitcoin in this new world, and Palihapitiya advocates for a form of Universal Basic Income (UBI). Key Learnings: The old ways of managing companies and allocating capital were unsound, and COVID-19 has laid bare the fact that the "emperor has no clothes." With radical change is on the horizon, investors should embrace these technological transformations in order to become a magnate of the future. Recorded on November 16, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

28 Des 20201h 7min

Harvey Sawikin, co-founder and lead portfolio manager at Firebird Management, a fund dedicated to investing in frontier and emerging market equities in Eastern Europe, joins Real Vision editor/reporter Haley Draznin for a conversation about the development of emerging markets over the past several decades and the sector outlook. Firebird started out as the first Russian portfolio equity fund and has since expanded to include other countries in the region such as Kazakhstan, Georgia, and Romania. Sawikin shares why his investment strategy differs in more mature and developed markets, how a typical investor in emerging markets has evolved, portfolio repositioning amid the Covid-19 pandemic, and the value of travel in investing. . Key learnings: Emerging markets are often a blind spot for investors—finding them requires assessing liquidity risk and geopolitical climate. Dollar strength and weakness is the macro factor that has the biggest impact on emerging markets. The disinflationary environment has led Firebird to reposition its portfolio towards more growth stocks in the Eastern European region and less towards cyclicals. Recorded on December 18, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

27 Des 202053min

William White, former central banker at the BoE, BoC, and BIS and senior fellow at the CD Howe Institute, has been a thorn in the side of his central banking colleagues for decades, questioning their hubris and pushing hard for a paradigm shift from within. Together with legendary financial commentator Jim Grant of Grant’s Interest Rate Observer, White explores the difficulty of paradigm shifts within central banking and the overwhelming historical evidence that this easy money experiment will end badly. White also expresses what he believes to be the core problem with central bankers' analytical framework — namely, that it assumes that the global economic system is "comprehensible, understandable, and controllable" rather than a complex, adaptive system with characteristics that are not present in the models that attempt to decipher it. As well, Grant questions White on his views on Bitcoin, how he personally invests, what he would do if he were running the Federal Reserve, and if there is any possible way out of our current predicament. . Key Learnings: Central Bankers' neglect for history will be their ultimate undoing, and although new, previously unthinkable policies have been enacted recently, it can hardly be considered a paradigm shift but merely a more extreme implementation of the same flawed analytical framework. The outcome of the deflation vs. inflation debate is not cut and dry even to someone as learned as William White, and he himself has for decades implemented a barbell strategy of cash and property as a way to position for this uncertainty. Recorded on November 16, 2020 Learn more about your ad choices. Visit podcastchoices.com/adchoices

26 Des 20201h 19min

Rohan Grey, president of Modern Money Network & doctoral fellow at Cornell Law, joins Santiago Velez, co-founder and R&D division lead for Block Digital, to discuss the controversial STABLE Act, the history of private and public monies, and the future of stable coins. Grey gives a detailed history lesson on money and its relationship to government. They talk through the key tenets of the STABLE Act and its implications for the crypto space over all and stable coins more specifically. Grey explains the differences between Central Bank Digital Currencies and E-Money and touches on the importance of privacy for financial transactions. Key Learnings: The government and public monies are strongly connected, and Grey believes that there are major systemic risks presented by assets aiming to disrupt the government's oversight of the issuance of its money with history providing strong evidence of these risks. For those investing in the crypto space, the passing of the STABLE Act may negatively impact certain types of stable coin projects as some may fall under the umbrella of this bill. Higher regulatory burdens may force some crypto projects to shutdown while those who are capable of meeting the higher bar may flourish with regulatory backing. Recorded on December 14, 2020. Learn more about your ad choices. Visit podcastchoices.com/adchoices

24 Des 20201h 24min