The Mustard Seed Bitcoin Podcast

Joe Burnett
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Joe Burnett is Vice President of Bitcoin Strategy at Strive (Nasdaq: ASST) following the Strive + Semler Scientific transaction. He previously served as Director of Bitcoin Strategy at Semler Scientific, helping build a treasury of over 5,000 BTC, and as Director of Market Research at Unchained, which secures more than 100,000 BTC. Joe hosts The Mustard Seed podcast and previously worked at Blockware Solutions and Ernst & Young. He holds degrees in Information Systems, Computer Science, and Business Analytics from the University of Georgia.

  1. 1D AGO

    Basel Held Bitcoin Back. AI Could Unleash It | Conner Brown

    Joe Burnett sits down with Conner Brown of the Bitcoin Policy Institute to discuss the Basel Committee’s 1,250% bitcoin risk weighting and why many view it as a major policy mistake limiting bank adoption. They also explore digital credit, the future of bitcoin in the financial system, and why AI agents may ultimately prefer bitcoin as money. Timestamps: 0:00 Intro 0:49 The Basel 1,250% mistake explained 7:26 How punitive Basel’s bitcoin risk weighting is in practice 12:12 Why Basel treats gold and bitcoin so differently 15:01 What happens if the U.S. changes the rules for banks 20:06 Why America should lead in bitcoin financial products 22:07 Digital credit and why Connor is bullish on it 26:20 Why bitcoin needs to be repackaged for different users 29:10 What money AI agents prefer 33:35 What properties AI agents want in money 37:49 Why bitcoin could give AI agents a capability boost 41:32 How fast AI is advancing 48:20 AI, job displacement, and the reorganization of society 54:51 Key bitcoin policy issues to watch in Washington 1:01:14 Where to follow Connor and Bitcoin Policy Institute

    1h 2m

  2. MAR 4

    Can Bitcoin Save America from AI Deflation and the Silent Depression?

    AI is accelerating productivity, compressing margins, and destabilizing labor markets in ways few are tracking closely. We examine the silent depression, liquidity risks, and why a recession could act as a margin call on the U.S. government and ignite the next bitcoin cycle. Timestamps: 00:00 – AI Is Already Causing Deflation 02:12 – Strange Market Rotation Since November 04:45 – AI Quietly Hitting White-Collar Jobs 06:23 – Software Publishing Down 3.8% 08:21 – Is This Just Getting Started? 10:15 – The Silent Depression Explained 12:10 – Personal Income vs Money Supply Collapse 15:40 – 25 Years of Economic Deterioration 19:49 – Capital vs Labor: The Great Divide 22:01 – Will AI Trigger UBI? 24:00 – Is Socialism Inevitable? 28:50 – Bitcoin vs Bonds: What to Own Now 31:00 – Could Bitcoin Go Four Digits? 34:30 – The Math of a $5 Trillion Deficit 37:15 – Deflation Is the Most Bullish Case for Bitcoin 39:48 – What Triggers “The Big Print”? 44:18 – ISM PMI: Early Cycle or False Signal? 50:28 – M2 Liquidity Is Quietly Drying Up 53:26 – Deaths of Despair Are 3x Great Depression 58:30 – Why Political Volatility Is Coming 1:01:05 – Is There Any Optimistic Outcome? 1:04:00 – How America Fixes This 1:06:52 – Produce More Than You Consume

    1h 8m

  3. FEB 18

    The Price of Uncertainty is Rising | Sam Callahan

    Rising global uncertainty, fiscal instability, and shifting monetary regimes are reshaping capital allocation across every major asset class. In this conversation, Joe Burnett and Sam Callahan explain why these forces ultimately strengthen the long-term case for bitcoin as the world’s most reliable monetary asset. Timestamps: 0:00 The price of uncertainty is rising 0:43 Why global uncertainty is bullish for bitcoin 3:11 Ray Dalio, shifting world order, and safe haven rotation 5:23 When did uncertainty actually begin accelerating? 8:20 Fed cuts, rising term premium, and why long yields stay high 12:08 Is this a temporary phase or long-term uncertainty? 16:19 Can long-term treasury yields fall from here? 20:35 Why bonds are a trade, not long-term savings 22:00 The real AI trade: bitcoin 25:26 Gold surge explained through rising uncertainty 28:26 Who is actually buying gold right now? 31:35 Divergence #3: bitcoin vs global liquidity 36:47 Exchange insolvency rumors and contagion risk 39:01 Will bitcoin snap back to liquidity trends? 42:31 Has bitcoin failed as a safe haven? 47:18 Why bitcoin is better technology than gold 48:36 How bad is current bitcoin market sentiment really? 53:32 Why sentiment feels worse than past cycles 57:28 Institutional adoption still early 59:00 Sovereign wealth funds and institutional accumulation 1:03:00 Fiat debasement, fiscal math, and the bitcoin thesis

    1h 3m

  4. FEB 11

    When will the Bitcoin Bear Market End? w/ Rational Root

    Root returns to break down where bitcoin stands in the current cycle, using on-chain data, macro signals, and historical patterns to assess whether a bottom is forming. This conversation explores diminishing returns, institutional adoption, long-term holder sell pressure, and why the next major bull market could emerge once scarcity and demand realign. Timestamps: 00:00 Root returns: where bitcoin is in the cycle 00:44 Four-year cycle still “right on track” 03:49 Spiral chart: where bottoms land in prior cycles 05:10 Breaking the bull trend in late 2025 09:42 What’s driving the current bear market 15:51 Short-term holder bands: mezzanine vs floor 18:50 Realized price at ~$55k and downside scenarios 20:42 Halving cycle vs business cycle (PMI) 24:22 Do PMI and other narratives actually predict price? 31:56 Gold at extreme RSI and why bitcoin behaves differently 37:54 OG holder sell pressure and the “bitcoin IPO phase” 41:02 On-chain value map: undervalued vs heavily undervalued 42:21 Diminishing returns, diminishing drawdowns, and future upside 51:51 Stock-to-flow, power law, and which models matter 54:39 What would break the bitcoin thesis? Hyperbitcoinization timeline

    1h 2m

  5. FEB 7

    The 4 Year Bitcoin Cycle is Dead, MSTR, Extreme Vol, and Gold Treasury Companies

    Bitcoin’s volatility is shaking out weak hands and setting the stage for a stronger market structure. In this conversation with CJ from Strategy, we break down why volatility is expected, how bitcoin treasury companies and digital credit are reshaping capital markets, and where institutional adoption goes next. If you want to understand what’s really happening beneath the price action, this episode connects the dots. 00:00 Why bitcoin’s volatility is a feature, not a bug 08:11 Are bitcoin cycles still real or just liquidity driven 14:12 Why billion-dollar buys barely move the bitcoin price 18:00 Digital credit and the new bitcoin capital markets 24:10 From stablecoins to yield-bearing bitcoin money 27:05 The infinitely scalable bitcoin treasury model 31:30 Where digital credit yields go from here 34:00 Could a gold treasury company ever work 39:45 Why bitcoin volatility will keep compressing 43:25 Quantum fears and securing bitcoin for decades 49:15 Biggest myths about bitcoin treasury companies 55:10 Why critics make bitcoin stronger

    56 min

  6. FEB 4

    Resetting the Global Monetary System on Gold and Bitcoin 🟡🟠

    In this conversation, Joe Burnett sits down with Mark Valek of Incrementum to unpack why today’s debt-based monetary system remains structurally fragile and how it may ultimately be recapitalized. They explore gold and bitcoin as monetary anchors, central bank behavior, inflationary reset scenarios, and why gold has recently outperformed bitcoin despite their shared role as sound money assets. Timestamps: 00:00 Introduction and the claim that the current monetary system is unsustainable 02:00 From gold-backed money to debt-based money and the exponential debt problem 05:20 Can the system break, or can fiat last longer than expected? 08:20 How fiat systems may be recapitalized through gold and sound assets 10:48 Do central bankers still understand gold and sound money? 13:30 Long-term outlook: deficits, inflation, and social consequences 20:14 How far gold and bitcoin could run in a recapitalization scenario 24:34 Who is buying gold and why the gold market regime has changed 29:00 Total gold market size and liquidity considerations 32:26 Why bitcoin has lagged gold and how to interpret the divergence 37:34 Closing thoughts and where to find Mark Valek’s work

    39 min

  7. JAN 28

    Understanding the Parabolic Rise of Gold (Analog Bitcoin) with Joe Consorti

    Gold and silver are sending a signal that few are prepared to hear, while bitcoin quietly trades far below its long-term implications. In this conversation, Joe Consorti breaks down sovereign flows, monetary metals, yen carry dynamics, and why bitcoin’s underperformance may be the setup, not the conclusion. If hard money is being repriced globally, the ceiling for bitcoin just moved much higher. Timestamps: 00:00 The Surge of Gold and Silver Prices 05:30 Understanding the Shift in Global Monetary Dynamics 10:14 Bitcoin's Performance in a Changing Market 17:40 The Future of Bitcoin and Its Market Potential 27:58 Bitcoin and Gold Parity: A New Era 31:51 The Yen Carry Trade: Implications for Global Markets 36:51 The Future of the Federal Reserve: Rate Cuts and Inflation 44:56 AI and Its Impact on Productivity and Asset Valuation

    59 min

  8. JAN 21

    The Next Liquidity Wave Will Look Completely Different w/ Peter Dunworth

    Bitcoin did not rally in 2025, yet the foundations for the next decade were laid quietly and decisively. This conversation breaks down why ETFs ended the four-year cycle, how the global collateral crisis points toward bitcoin, and why AI-driven abundance makes fixed digital scarcity more valuable over time. It is a long-term, low-time preference discussion on where capital ultimately settles when incentives, regulation, and technology align. Timestamps: 00:00 - Why bitcoin underperformed in 2025 but fundamentals strengthened 03:06 - Why the four-year bitcoin cycle is ending 05:17 - ETFs changed bitcoin’s market structure permanently 07:33 - How fast bitcoin adoption is really happening 10:13 - What if a bitcoin ETF launched in 2013? 12:18 - Strategic bitcoin reserves and unmet price expectations 15:12 - Why bitcoin supply no longer matters 17:44 - The global collateral crisis and why bitcoin solves it 23:32 - Larry Fink, ETFs, and financializing bitcoin 25:26 - The bamboo analogy for bitcoin’s next growth phase 28:50 - Why a US bitcoin reserve would trigger global adoption 36:19 - Liquidity, manufacturing, and a new economic cycle 40:14 - AI, abundance, and why scarcity makes bitcoin inevitable 47:27 - Bitcoin treasury companies, sentiment, and opportunity 57:57 - Why bitcoin reaching $10 million is plausible

    1 hr
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4.3
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About

Joe Burnett is Vice President of Bitcoin Strategy at Strive (Nasdaq: ASST) following the Strive + Semler Scientific transaction. He previously served as Director of Bitcoin Strategy at Semler Scientific, helping build a treasury of over 5,000 BTC, and as Director of Market Research at Unchained, which secures more than 100,000 BTC. Joe hosts The Mustard Seed podcast and previously worked at Blockware Solutions and Ernst & Young. He holds degrees in Information Systems, Computer Science, and Business Analytics from the University of Georgia.

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