Pod 47: Bitcoin’s Bear Market: Strategy Sells, COLDCARD Fails, and Miners Pivot to AI
As of August 20, 2026, Bitcoin is trading near $63,500 despite moderating inflation, institutional adoption and recent exchange-traded-fund inflows. So why isn’t the price performing better?
Danny, Brendan, and Jon examine the macroeconomic forces keeping Bitcoin range-bound, including stagnant global liquidity, elevated interest rates, energy uncertainty and the enormous capital buildout surrounding artificial intelligence.
They also discuss whether Bitcoin’s four-year cycle remains intact, Strategy’s unexpected Bitcoin sales and the devastating COLDCARD vulnerability that compromised recovery phrases on affected devices. While Bitcoin itself was not hacked, the incident raises difficult questions about self-custody, multisignature security and the growing role of institutional custodians.
Finally, the conversation turns to Bitcoin miners pivoting toward AI infrastructure. With AI companies willing to pay substantially more for energy and data-center capacity, the shift may represent rational capital allocation—and could ultimately create room for smaller, geographically distributed Bitcoin miners.
Is Bitcoin hammering out a bottom, or does the bear market have further to run? And could the AI boom unexpectedly make Bitcoin mining more decentralized?
This show is for informational purposes only. Nothing presented here constitutes legal and/or financial advice.