{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Richard Byworth - Bitcoin Is Taking Over the System","description":"In this episode of the Bitcoin Matrix Podcast, I chat with Richard Byworth, a seasoned investment banker turned Bitcoin maximalist, live from the Bitcoin Conference in Las Vegas. We explore the mechanics and evolution of convertible bonds, Bitcoin treasury strategies, and why institutional players are waking up to Bitcoin\u2019s potential.&amp;nbsp; \u2013\u2013\u2013 Offers &amp;amp; Discounts \u2013\u2013\u2013 Theya is the world\u2019s simplest Bitcoin self-custody solution. Download Theya Now at theya.us\/cedric Get up to $100 in Bitcoin on River at river.com\/Matrix The best Team Bitcoin merch is at HodlersOfficial.com. Use the code Matrix for a discount on your order. Become a sponsor of the show: https:\/\/thebitcoinmatrix.com\/sponsors\/ \u2013\u2013\u2013 Get To Know Today's Guest \u2013\u2013\u2013 \u2022 Richard Byworth on X: https:\/\/x.com\/RichardByworth \u2013\u2013\u2013 Socials \u2013\u2013\u2013 \u2022 Check out our new website at https:\/\/TheBitcoinMatrix.Com \u2022 Follow Cedric Youngelman on X: https:\/\/x.com\/cedyoungelman \u2022 Follow The Bitcoin Matrix Podcast on X: https:\/\/x.com\/_bitcoinmatrix \u2022 Follow Cedric Youngelman on Nostr: npub12tq9jxmt707gd5vnce3tqllpm67ktr0mqskcvy58qqa4d074pz9s4ukdcs&amp;nbsp; \u2013\u2013\u2013 Chapters \u2013\u2013\u2013 00:00 - Intro 01:14 - Richard's Background&amp;nbsp; 02:52 - Building Nomura\u2019s Convertible Bond Business&amp;nbsp; 05:53 - Becoming a Bitcoin Maximalist&amp;nbsp; 07:43 - Explaining Convertible Bonds for Bitcoiners&amp;nbsp; 09:28 - Convertible Bonds as Institutional Tools&amp;nbsp; 10:17 - Why MicroStrategy Can Issue Zero-Coupon Convertibles&amp;nbsp; 12:44 - Will Bitcoin Volatility Increase or Decrease?&amp;nbsp; 14:10 - Forecasting a Supply Crunch and Volatility Spike&amp;nbsp; 14:59 - The Bitcoin Treasury Company Playbook&amp;nbsp; 16:17 - Metaplanet\u2019s Strategic Innovation&amp;nbsp; 19:34 - Accretive Dilution vs Traditional Dilution&amp;nbsp; 24:05 - Short Squeezes and Japan\u2019s Market Mechanics&amp;nbsp; 27:26 - The Debate Around Proof of Reserves&amp;nbsp; 33:47 - Future of BTC Dividends and Financial Engineering&amp;nbsp; 34:28 - Why TradFi Still Doesn\u2019t Understand Bitcoin&amp;nbsp; 37:14 - Where Is Real Bitcoin Price Discovery?&amp;nbsp; 38:55 - ETF Flows and Institutional Demand Signals&amp;nbsp; 40:08 - Satoshis vs BTC: The Unit Bias Debate&amp;nbsp; 42:10 - Advice for High-Net-Worth Investors Considering Bitcoin&amp;nbsp; I want to take a moment to express my heartfelt gratitude to all of you for tuning in, supporting the show, and contributing. Thank you for listening! ","author_name":"The Bitcoin Matrix","author_url":"http:\/\/bitcoinmatrix.libsyn.com\/website","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/36818780\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/189102745"}