Bitcoin Financial Advice with Pierre & Morgen Rochard

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Pierre Rochard is a VP of Research at Riot Platforms and Morgen Rochard is the founder and lead financial planner of Origin Wealth Advisers LLC. In this interview, we discuss the potential of Bitcoin, its growing legitimacy, the importance of using it responsibly and the misconceptions surrounding it. We also discuss the potential impact of a Bitcoin ETF, the role of stablecoins, and the state of the global economy.

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TIMESTAMPS:
00:00:00 Introduction
00:07:45 Bitcoin security incentives
00:13:46 Ordinals; freedom; blocksize
00:19:36 Bitcoin financial advice?
00:30:00 Politicians & Bitcoin
00:45:06 Adoption waves
01:04:24 Stablecoins
01:12:16 Macro; multisig; mining vs AI

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#Bitcoin #Finance #Economics

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“In order to match inflation, to meet long term goals, and to do all the things people want to do in their lives, they’re being forced beyond their risk tolerance…in my mind, Bitcoin even though it’s a volatile asset, you’re actually not being forced beyond your risk tolerance because it’s a savings vehicle.”
— Morgen Rochard

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Pierre & Morgen Rochard have expertise across both the technical and financial aspects of Bitcoin. It was therefore an opportune moment to take a deep dive into where we currently are in relation to Bitcoin’s purpose, its security and susceptibility to attack, its role as part of an investment portfolio, and its fundamental role as a new form of money.

We discussed Pierre’s evolved perspective on the interaction of transaction fees, energy use and security. Fundamentally, does the brilliance of Bitcoin’s original design and the game theory behind a 51% attack, mean that it is unlikely to be attacked? Therefore, is the effort in trying to ensure transaction fees are high enough to increase security becomes moot?

Further, we talk about the importance of using Bitcoin responsibly and in a way that can make the world a better place. Should the freedom provided by Bitcoin be used to make positive choices and improve the world, rather than for non-essential purposes like putting jpegs on the blockchain? If blockspace is a scarce and valuable commodity, should there be a moral consensus on how it is used?

Morgan shared her perspective on investing in Bitcoin and the general advice to consider it as a long-term savings asset. Morgan advises against using leverage and suggests a 30-50% allocation as being appropriate for most people. We also discussed the topic of adoption and whether it needs to be at a slow pace to enable the rebalancing of portfolios. This is important as people realize that Bitcoin is a backup plan in case the fiat economy fails.

We discussed the growing legitimacy of Bitcoin within important groups. This reinforces the importance of investing in education and public policy to fight misconceptions and ensure that the truth about Bitcoin is being shared. We also touched on the potential impact of a Bitcoin ETF, highlighting the limitations of ETFs, and the importance of encouraging individuals to own Bitcoin outright and holding their own keys.