Bits + Bips

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Exploring how crypto and macro collide one basis point at a time. Hosted by Ram Ahluwalia, Austin Campbell and Chris Perkins. Livestream: Every Monday at 4:30 pm ET.

Episodes

  1. 1 DAY AGO

    Why This Correction Is Worse Than Liberation Day

    The S&P just closed its worst month since March 2025 at 6,368, marking a fifth straight weekly decline. Moody’s puts recession probability at 50%. Goldman is at 30%. But this isn’t just another pullback: with Brent crude at $116, inflationary supply shocks are compounding the damage in ways that monetary policy tools can’t fix. Ram names his specific buys (Berkshire Hathaway at 1.3x tangible book, Microsoft, Meta at 17.5x forward PE) and his shorts (Caterpillar, John Deere, and the industrials complex he calls “a bubble”). He warns that Bitcoin’s hold at $66K is driven by STRC flows, not a healthy fundamental bid. Austin and Chris debate whether the Clarity Act and institutional adoption are enough tailwind to matter when the macro environment is this hostile. This video is from a longer conversation covering the Iran conflict, bond market constraints, and the Canton vs. Ethereum institutional debate. Full episode here: https://youtube.com/live/Ui5pI1JxF6s We go live every Monday at 4:30 PM ET. Subscribe to catch it live.

    8 min

  2. 1 DAY AGO

    Amid the Iran War, Here’s Why It’s Time to Be ‘Defensive’ With Your Portfolio

    When do oil prices force a ceasefire? Why is crypto holding firm while equities crack? And does Canton or Ethereum win the institutional race? --- Thank you to our sponsor: ⁠Nexo⁠ — the premier digital wealth platform. Receive interest on your digital assets, borrow against them without selling, and trade a wide range of cryptocurrencies all in one place. Now available in the US with 30 days of exclusive privileges for new clients. Get started at ⁠nexo.com/unchained⁠. ---- Bond market tightening has become the invisible hand constraining every policy decision, from Iran talks to stimulus spending.  With Brent crude at $107 and the 10-year yield climbing, asset prices face a cascade of headwinds: inflationary supply shocks, tightening financial conditions, and no clear off-ramp for a conflict that the IRGC shows no appetite to negotiate.  Yet within crypto, a sharper debate is emerging: does institutional adoption demand Canton’s permissioned structure, or can Ethereum survive with real-world assets on a permissionless layer?  Austin, Ram, and Chris dig into the structural fault lines that the macro backdrop is now exposing, and why market-timing in a conflict where you don’t know who the endgame negotiator is may be the wrong frame entirely. Hosts: ⁠Austin Campbell⁠, Host of Bits + Bips, Zero Knowledge Consulting ⁠Ram Ahluwalia⁠, Co-Host, CEO of Lumida ⁠Chris Perkins⁠, Co-Host, President of CoinFund

    1hr 4min

  3. 6 DAYS AGO

    Why Gas Prices, Not Oil, Determine What You Pay for Electricity

    With European gas prices running 50-70% above normal, Steven Ehrlich sits down with Sean Murray, Head of Special Projects and Crypto Lead at Fuse Energy, to map the cascade: why gas, not oil, drives what consumers pay for electricity; how the Strait of Hormuz closure and the attack on Qatar's LNG processing facility are rippling through fertilizers, jet fuel, and copper markets; and why Sean argues the long-term supply disruption is being badly underpriced by markets worldwide. Multi-billion dollar facilities don't come back in months. This clip is from a longer conversation on energy markets, DePIN, and Fuse Energy's token launch on Solana. Full episode here: https://youtu.be/RMXJsFT15UA We go live every Monday at 4:30 PM ET — subscribe to catch it live.

    9 min

  4. 25 MAR

    Where AI Value Actually Goes (Hint: Not Model Companies)

    Jeff Bezos is raising $100 billion for Project Prometheus to acquire manufacturing companies and transform them with AI. Mark Zuckerberg is building a personal AI CEO agent to bypass management layers at Meta. The question: where does AI value actually accrue? Ram Ahluwalia argues the consumer wins. Venture capital is subsidizing the real economy through tools like Claude that lose money but deliver massive productivity gains. Chris Perkins says people are resilient and will adapt the way influencers emerged from the internet era. The conversation takes a darker turn when Ram warns that declining birth rates combined with cheap robots lower the cost of conflict. When soldiers cost $8,000 at scale, the calculus for war changes entirely. This clip is from a longer conversation on Iran, the Fed, and AI. Full episode here: https://www.youtube.com/live/8Pr-oa4N0Bo?si=rfIKIOHRIjYQSWIh Follow @bitsandbips

    11 min

  5. 25 MAR

    Why Elon’s $25B Chip Fab TeraFab Is 'Not Real' and AI Layoffs Are an Excuse

    Elon Musk announced TeraFab, a $25 billion joint chip fabrication venture between Tesla, SpaceX, and xAI targeting two-nanometer process technology. Ram Ahluwalia calls the entire thing bullshit. TSM has invested hundreds of billions to build chip fabs. Tesla generates $3-6 billion in free cash flow. The math doesn’t work without massive dilution. Jensen Huang himself has said data centers in space don’t make sense. Meanwhile Chris Perkins argues that AI layoffs across crypto and tech are a “beautiful excuse” for companies that need to restructure. Ram counters that net engineers are actually being hired, and the companies cutting the most are spending the most on Nvidia GPUs. This clip is from a longer conversation on Iran, the Fed, and AI. Full episode here: https://www.youtube.com/live/8Pr-oa4N0Bo?si=WWmYw2LcxkOS9DAV Follow @bitsandbips

    7 min

  6. 22 MAR

    Who Wins the AI Payments War?

    Coinbase x402 has processed $34M. Tempo just launched its mainnet. Steven and Laurens discuss how the agentic commerce war is shaping up, why stablecoins are the infrastructure layer underneath it, how to tell real adoption from inflated metrics, and what happens when AI agents start getting scammed.

    7 min

  7. 18 MAR

    Why Hedge Funds Are Deleveraging and Stocks Are Still Overvalued

    Ram calls industrials a bubble that's already popped — Caterpillar at 35x PE, hedge funds still deleveraging, and no real capitulation yet. Austin and Chris push back.

    10 min

  8. 16 MAR

    The IRGC Is Weakened, but the Iranian People Still Won't Revolt, Says Major-General

    General Spider Marks has a brother-in-law who's Iranian — and what he says about why 93 million Persians won't rise up should reframe how investors are reading this war.

    6 min

  9. 14 MAR

    A U.S. General Explains Why the Iran Strait of Hormuz Threat Is a Bluff

    A retired U.S. Major General just explained why Iran's navy is at the bottom of the Gulf — and why the Strait of Hormuz was never actually at risk.

    8 min
  10. Bits + Bips Trailer

    22 FEB

    Bits + Bips Trailer

    Does it sound like a fit? Don't forget to subscribe! We livestream every Monday at 4:30 pm ET on X, YouTube and Twitch.

    1 min

Trailer

About

Exploring how crypto and macro collide one basis point at a time. Hosted by Ram Ahluwalia, Austin Campbell and Chris Perkins. Livestream: Every Monday at 4:30 pm ET.

Information

  • Creator
    Unchained
  • Years Active
    2025 - 2026
  • Episodes
    10
  • Rating
    Explicit
  • Show Website
    Bits + Bips

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