Exploring the Intersection of Traditional and Decentralized Finance
Matt Prusak, president of American Bitcoin, joins John Furrier, co-founder and co-CEO of SiliconANGLE Media Inc., in a compelling discussion in theCUBE's "Crypto Trailblazers" series. This video, recorded at the iconic New York Stock Exchange (NYSE) Studios, delves into how American Bitcoin navigates the rapidly evolving financial landscape through strategic advancements in Bitcoin mining and asset accumulation.
In this episode, Prusak shares insights on how American Bitcoin positions itself as a leader in the Bitcoin ecosystem. As a pioneer in the mining and accumulation of Bitcoin, the company aims to become a category leader by leveraging strategic partnerships and a robust treasury model. With a focus on bridging traditional and decentralized finance, the conversation hosted by Furrier reveals the company's journey from a recent initial public offering (IPO) to its ongoing mission of digital asset leadership.
Viewers gain valuable insights about the increasing institutional adoption of cryptocurrency, the strategic role of Bitcoin as a financial asset, and the implications of current financial policies according to Prusak. This discussion elucidates the economic and strategic advantages of Bitcoin in a modern financial context and highlights the potential for further adoption and policy development.
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
theCUBE + NYSE Wired: Crypto Trailblazers. If you don’t think you received an email check your
spam folder.
Sign in to theCUBE + NYSE Wired: Crypto Trailblazers.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Register For theCUBE + NYSE Wired: Crypto Trailblazers
Please fill out the information below. You will recieve an email with a verification link confirming your registration. Click the link to automatically sign into the site.
You’re almost there!
We just sent you a verification email. Please click the verification button in the email. Once your email address is verified, you will have full access to all event content for theCUBE + NYSE Wired: Crypto Trailblazers.
I want my badge and interests to be visible to all attendees.
Checking this box will display your presense on the attendees list, view your profile and allow other attendees to contact you via 1-1 chat. Read the Privacy Policy. At any time, you can choose to disable this preference.
Select your Interests!
add
Upload your photo
Uploading..
OR
Connect via Twitter
Connect via Linkedin
EDIT PASSWORD
Share
Forgot Password
Almost there!
We just sent you a verification email. Please verify your account to gain access to
theCUBE + NYSE Wired: Crypto Trailblazers. If you don’t think you received an email check your
spam folder.
Sign in to theCUBE + NYSE Wired: Crypto Trailblazers.
In order to sign in, enter the email address you used to registered for the event. Once completed, you will receive an email with a verification link. Open this link to automatically sign into the site.
Sign in to gain access to theCUBE + NYSE Wired: Crypto Trailblazers
Please sign in with LinkedIn to continue to theCUBE + NYSE Wired: Crypto Trailblazers. Signing in with LinkedIn ensures a professional environment.
Are you sure you want to remove access rights for this user?
Details
Manage Access
email address
Community Invitation
Matt Prusak, American Bitcoin
Exploring the Intersection of Traditional and Decentralized Finance
Matt Prusak, president of American Bitcoin, joins John Furrier, co-founder and co-CEO of SiliconANGLE Media Inc., in a compelling discussion in theCUBE's "Crypto Trailblazers" series. This video, recorded at the iconic New York Stock Exchange (NYSE) Studios, delves into how American Bitcoin navigates the rapidly evolving financial landscape through strategic advancements in Bitcoin mining and asset accumulation.
In this episode, Prusak shares insights on how American Bitcoin positions itself as a leader in the Bitcoin ecosystem. As a pioneer in the mining and accumulation of Bitcoin, the company aims to become a category leader by leveraging strategic partnerships and a robust treasury model. With a focus on bridging traditional and decentralized finance, the conversation hosted by Furrier reveals the company's journey from a recent initial public offering (IPO) to its ongoing mission of digital asset leadership.
Viewers gain valuable insights about the increasing institutional adoption of cryptocurrency, the strategic role of Bitcoin as a financial asset, and the implications of current financial policies according to Prusak. This discussion elucidates the economic and strategic advantages of Bitcoin in a modern financial context and highlights the potential for further adoption and policy development.
>> Welcome back everyone. I'm John Furrier, host of theCUBE here at the NYSE Studios of theCUBE. Of course, NYSE Wired, the Wired community and Wired program. This is our Crypto Trailblazers program. We feature the leaders, the people making it happen, building the next generation infrastructure, investing, writing code, creating new products, changing the financial markets. Again, there's a whole tsunami coming together. We have a convergence of TradFi, DeFi and a complete upgrade to the infrastructure. We've got a great guest here, Matt Prusak, president of American Bitcoin, co-founded with Eric Trump. Bill Tai, Hut8, big focus venture. Thanks for coming on, theCUBE. Looking forward to chatting.
Matt Prusak
>> Thanks for having me.>> So I love your business mainly because you have your hands on some big iron, we used to call it back in the day, very focused strategy around Bitcoin. Notable name, Eric Trump's co-founded it with you, really made all the right moves. I did some research with Bill Tai on this. He explained the whole thing to me. Explain what's happening because I think you guys have a very interesting business model teed up beautifully for this Bitcoin revolution because you're stacking the Bitcoin up.
Matt Prusak
>> That's exactly right. So American Bitcoin is effectively a pure play. So our ambition is to become a category leader in the Bitcoin ecosystem. The way we start is mining. So we run a very, very large Bitcoin mining business, several percent of the global network. And our job there is safeguarding the Bitcoin supply. So there's about $2 trillion worth of Bitcoin market cap right now. As a miner, we're the ones keeping that network secure and we're paid in Bitcoin for doing that. The second layer is a treasury. So you've seen the emergence now of what they call Bitcoin treasury companies. These are companies that are realizing that stockpiling the hardest asset on earth on their balance sheet is the best way to create a fortress of capital for themselves. And so we've decided to accumulate as much Bitcoin as possible as quickly as possible. Starting with mining, moving to capital markets, as we recently listed, and then finally becoming just a category leader across the ecosystem.>> What's the current status of the company? I want to get into the whole Bitcoin is the next goal, and some of the numbers, I think they're way under-inflated what they could be. Give us a quick snapshot of where you guys are at right now in terms of progress and status.
Matt Prusak
>> So American Bitcoin is a publicly-traded company. We recently went public. We've been out in the markets now for over a week. In that period of time, we've seen tremendous excitement. I think what we've really recognized is the desire of the everyday American to gain exposure to the Bitcoin story in a thoughtful way. And so folks know that if they invest in American Bitcoin, they're gaining exposure to the Bitcoin narrative overall, not in a one-to-one like an ETF, but actually in a vehicle that is going to try and accumulate as much Bitcoin as possible for that given amount of investment that they can hope for.>> And what's interesting, Matt, is that one of the things coming out of the Trailblazer series, as well as other observations, that there's a huge... Especially having theCUBE here in New York. Well, we got Silicon Valley covered, tech scenes frothy with excitement both on innovation. But here in New York, there's a demand for the equity on the crypto.
Matt Prusak
>> Yes.>> There's still some who might not understand how some of the deeper dives ventures work, but generally, the markets are proven, it's wide open right now. There's thirst for the equity and the demand. I mean, people weren't seeing the numbers go that high. They were surprised by the pops on the IPOs. What's your view on the equity demand? Just any comment or observation?
Matt Prusak
>> Absolutely. So what I think we're seeing is finally the combination of traditional finance or TradFi and decentralized finance or DeFi, and the beginning of a serious wave of institutional adoption in cryptocurrency. And as folks deciding what that initial entry point into crypto might be, Bitcoin stands out as the obvious market leader. Again, it's a multi-trillion dollar proven cryptocurrency digital asset. And for the institutions, this makes a logical first port of call as they enter the digital space.>> It's in the national, international news. Obviously the position of the current government in the US, clear, stockpile Bitcoin as an asset for national security, sovereignty. And with stable coins and the Genius Act and the Clarity Act, you're starting to see the key formulations of those policies that need to give the confidence, not just the enthusiasms there, confidence and what it's doing with stable coins and then the regulatory regimes behind it now catching up and peddling as fast as they can. This is a competitive advantage for the United States. And then with the US dollar pegged against a stable coin, that's an extension of the US sovereignty, which is the dollar. So that's a disruptive enabler for countries that could have watched their inflation, also pay down the debt. So this is an economic play as well as a national defense. So I think the American Bitcoin direction is the Fort Knox of our world, of America.
Matt Prusak
>> It is. And if you think about it, so gold is about a 20, 21 trillion dollar asset. Bitcoin is about 2 trillion, right? There's plenty of headroom for Bitcoin and for the increased adoption to get up to where gold is as a international reserve asset, and we're already on our way. I think you're seeing now with inflation, the United States, abroad, people are getting more and more interested in finding ways to store value above and beyond fiat currency. And it's been remarkable to see the strides that the United States government has taken in welcoming this revolution to the United States. America has really signaled that it could be the digital asset leader above and beyond its success in the traditional finance world, and there's much more to come.>> Yeah, Matt, I was talking to other entrepreneurs, very successful early pioneers and trailblazers as well. And they testified in front of Congress during the Bipartisan Crypto Outlook or whatever the name of the hearing was. I'm not into the political scene very much other than they were there, and quote from the entrepreneur, it was clearly bipartisan because we're talking about liberty, freedom, justice for all kind of stuff by having the digital currency and having that democratization access to capital, access to the network. There's no politics involved here. Share, because I think this is a super important point because this is like bipartisan.
Matt Prusak
>> I fully agree. I think you've seen a sea change in the political world. So if you go to DC now, the work that they put into, the genius work, the upcoming bills they want to work on in the fall, it's night and day from what we've seen in the past, and it's almost analogous to the 1930s with the numerous security regulations that really set the foundation for the US to dominate capital in the 20th century, we're now setting up to do the same in the 21st.>> Got it. So what's your biggest opportunity right now? What are you working on? Can you share some of the tactics, your objectives? What are you optimizing for?
Matt Prusak
>> Absolutely. So first and foremost, there's only 21 million Bitcoin, so it is essential for American Bitcoin to have as many of those 21 million as possible. We are doing that a few different ways.>> They're not making anymore.
Matt Prusak
>> They're not making anymore. That's the value add.>> That's what people don't understand. There's more growth ahead than behind us. I mean, if you think about the number, they're not making anymore.
Matt Prusak
>> No, the only Bitcoin that's coming out now is what the miners get is the reward, and it's a small fraction of the total.>> Sliver.
Matt Prusak
>> So yeah, we'll do our best.>> All right. So what's the future look like? What do you see happening? What do you want to have happen? What's the preferred future look like?
Matt Prusak
>> I think we live in a world where folks are easily able to transact value in Bitcoin as easily as they can in dollars. So similar to how people might use sort of a PayPal-type app, they're able to do so in the blockchain realm, transparent, secure, rapid. It's just a better product, and I think Bitcoin is a way for people to really engage with that system and hold their value in a way that's safe.>> I have to ask you about the IPO, the public offering. How'd that go and what does that mean for average people?
Matt Prusak
>> Yeah, so our listing was a phenomenal success. What we really noticed from the crowd and from the investors was both interest on the institutional side. Again, a pretty big deal to see the amount of institutional interest that we're getting into cryptocurrency and American Bitcoin as well as retail. I think the average American, everyday American is excited for the opportunity to get and step into the Bitcoin world. And as they look out across the landscape, American Bitcoin is really standing out as a legitimate brand for them to spend time with.>> Great brand. Final question. Obviously energy. AI and crypto and blockchain, it's all bounded by energy. Obviously energy is a top conversation across all-
Matt Prusak
>> Yes.... >> aspects of global issues around who's got the most energy. I mean, we cover CapEx, data center growth like it's nobody's business on the enterprise side with the hyperscalers, that demand for capacity just for AI, never mind what you guys are doing, how are you looking at that? Do you see any answers around the corner? Are you prepared for it? Obviously with Hut8 and some of the things you're doing, you're pretty solid. What's that look like for you?
Matt Prusak
>> Yeah, so American Bitcoin really benefits from its partnership with Hut8. So it's our sibling company. They're a preeminent infrastructure provider, especially for Bitcoin mining. They have an ample pipeline that we can draw from. And Bitcoin is, at the end of the day, an energy-backed currency, right? So for us, having access to an energy pipeline that is at great prices in stable jurisdictions in the United States is a remarkable advantage.>> And the treasury play is great. You store it, you hold it, you stake it. Economics, how's that looking?
Matt Prusak
>> Listen, again, there's less Bitcoin out there for grabs every day. So I think when it comes to the treasury, it really just comes down to making sure that we're able to harness the capital markets to accumulate.>> Certainly get a lot of friends when you're stockpiling all that. Matt, thanks for coming on and congratulations on the public listing, and great, we appreciate what you do.
Matt Prusak
>> Thank you, appreciate it John.>> Thanks for coming on. Okay. Blazing the trail. Talk about blazing the trail, setting the trail up with the stockpile of Bitcoin. American mining and Bitcoin is all key to success, bounded by energy. This is theCUBE bringing our part to bring you the data. I'm John Furrier, your host. Thanks for watching.
>> Welcome back everyone. I'm John Furrier, host of theCUBE here at the NYSE Studios of theCUBE. Of course, NYSE Wired, the Wired community and Wired program. This is our Crypto Trailblazers program. We feature the leaders, the people making it happen, building the next generation infrastructure, investing, writing code, creating new products, changing the financial markets. Again, there's a whole tsunami coming together. We have a convergence of TradFi, DeFi and a complete upgrade to the infrastructure. We've got a great guest here, Matt Prusak, president of American Bitcoin, co-founded with Eric Trump. Bill Tai, Hut8, big focus venture. Thanks for coming on, theCUBE. Looking forward to chatting.
Matt Prusak
>> Thanks for having me.>> So I love your business mainly because you have your hands on some big iron, we used to call it back in the day, very focused strategy around Bitcoin. Notable name, Eric Trump's co-founded it with you, really made all the right moves. I did some research with Bill Tai on this. He explained the whole thing to me. Explain what's happening because I think you guys have a very interesting business model teed up beautifully for this Bitcoin revolution because you're stacking the Bitcoin up.
Matt Prusak
>> That's exactly right. So American Bitcoin is effectively a pure play. So our ambition is to become a category leader in the Bitcoin ecosystem. The way we start is mining. So we run a very, very large Bitcoin mining business, several percent of the global network. And our job there is safeguarding the Bitcoin supply. So there's about $2 trillion worth of Bitcoin market cap right now. As a miner, we're the ones keeping that network secure and we're paid in Bitcoin for doing that. The second layer is a treasury. So you've seen the emergence now of what they call Bitcoin treasury companies. These are companies that are realizing that stockpiling the hardest asset on earth on their balance sheet is the best way to create a fortress of capital for themselves. And so we've decided to accumulate as much Bitcoin as possible as quickly as possible. Starting with mining, moving to capital markets, as we recently listed, and then finally becoming just a category leader across the ecosystem.>> What's the current status of the company? I want to get into the whole Bitcoin is the next goal, and some of the numbers, I think they're way under-inflated what they could be. Give us a quick snapshot of where you guys are at right now in terms of progress and status.
Matt Prusak
>> So American Bitcoin is a publicly-traded company. We recently went public. We've been out in the markets now for over a week. In that period of time, we've seen tremendous excitement. I think what we've really recognized is the desire of the everyday American to gain exposure to the Bitcoin story in a thoughtful way. And so folks know that if they invest in American Bitcoin, they're gaining exposure to the Bitcoin narrative overall, not in a one-to-one like an ETF, but actually in a vehicle that is going to try and accumulate as much Bitcoin as possible for that given amount of investment that they can hope for.>> And what's interesting, Matt, is that one of the things coming out of the Trailblazer series, as well as other observations, that there's a huge... Especially having theCUBE here in New York. Well, we got Silicon Valley covered, tech scenes frothy with excitement both on innovation. But here in New York, there's a demand for the equity on the crypto.
Matt Prusak
>> Yes.>> There's still some who might not understand how some of the deeper dives ventures work, but generally, the markets are proven, it's wide open right now. There's thirst for the equity and the demand. I mean, people weren't seeing the numbers go that high. They were surprised by the pops on the IPOs. What's your view on the equity demand? Just any comment or observation?
Matt Prusak
>> Absolutely. So what I think we're seeing is finally the combination of traditional finance or TradFi and decentralized finance or DeFi, and the beginning of a serious wave of institutional adoption in cryptocurrency. And as folks deciding what that initial entry point into crypto might be, Bitcoin stands out as the obvious market leader. Again, it's a multi-trillion dollar proven cryptocurrency digital asset. And for the institutions, this makes a logical first port of call as they enter the digital space.>> It's in the national, international news. Obviously the position of the current government in the US, clear, stockpile Bitcoin as an asset for national security, sovereignty. And with stable coins and the Genius Act and the Clarity Act, you're starting to see the key formulations of those policies that need to give the confidence, not just the enthusiasms there, confidence and what it's doing with stable coins and then the regulatory regimes behind it now catching up and peddling as fast as they can. This is a competitive advantage for the United States. And then with the US dollar pegged against a stable coin, that's an extension of the US sovereignty, which is the dollar. So that's a disruptive enabler for countries that could have watched their inflation, also pay down the debt. So this is an economic play as well as a national defense. So I think the American Bitcoin direction is the Fort Knox of our world, of America.
Matt Prusak
>> It is. And if you think about it, so gold is about a 20, 21 trillion dollar asset. Bitcoin is about 2 trillion, right? There's plenty of headroom for Bitcoin and for the increased adoption to get up to where gold is as a international reserve asset, and we're already on our way. I think you're seeing now with inflation, the United States, abroad, people are getting more and more interested in finding ways to store value above and beyond fiat currency. And it's been remarkable to see the strides that the United States government has taken in welcoming this revolution to the United States. America has really signaled that it could be the digital asset leader above and beyond its success in the traditional finance world, and there's much more to come.>> Yeah, Matt, I was talking to other entrepreneurs, very successful early pioneers and trailblazers as well. And they testified in front of Congress during the Bipartisan Crypto Outlook or whatever the name of the hearing was. I'm not into the political scene very much other than they were there, and quote from the entrepreneur, it was clearly bipartisan because we're talking about liberty, freedom, justice for all kind of stuff by having the digital currency and having that democratization access to capital, access to the network. There's no politics involved here. Share, because I think this is a super important point because this is like bipartisan.
Matt Prusak
>> I fully agree. I think you've seen a sea change in the political world. So if you go to DC now, the work that they put into, the genius work, the upcoming bills they want to work on in the fall, it's night and day from what we've seen in the past, and it's almost analogous to the 1930s with the numerous security regulations that really set the foundation for the US to dominate capital in the 20th century, we're now setting up to do the same in the 21st.>> Got it. So what's your biggest opportunity right now? What are you working on? Can you share some of the tactics, your objectives? What are you optimizing for?
Matt Prusak
>> Absolutely. So first and foremost, there's only 21 million Bitcoin, so it is essential for American Bitcoin to have as many of those 21 million as possible. We are doing that a few different ways.>> They're not making anymore.
Matt Prusak
>> They're not making anymore. That's the value add.>> That's what people don't understand. There's more growth ahead than behind us. I mean, if you think about the number, they're not making anymore.
Matt Prusak
>> No, the only Bitcoin that's coming out now is what the miners get is the reward, and it's a small fraction of the total.>> Sliver.
Matt Prusak
>> So yeah, we'll do our best.>> All right. So what's the future look like? What do you see happening? What do you want to have happen? What's the preferred future look like?
Matt Prusak
>> I think we live in a world where folks are easily able to transact value in Bitcoin as easily as they can in dollars. So similar to how people might use sort of a PayPal-type app, they're able to do so in the blockchain realm, transparent, secure, rapid. It's just a better product, and I think Bitcoin is a way for people to really engage with that system and hold their value in a way that's safe.>> I have to ask you about the IPO, the public offering. How'd that go and what does that mean for average people?
Matt Prusak
>> Yeah, so our listing was a phenomenal success. What we really noticed from the crowd and from the investors was both interest on the institutional side. Again, a pretty big deal to see the amount of institutional interest that we're getting into cryptocurrency and American Bitcoin as well as retail. I think the average American, everyday American is excited for the opportunity to get and step into the Bitcoin world. And as they look out across the landscape, American Bitcoin is really standing out as a legitimate brand for them to spend time with.>> Great brand. Final question. Obviously energy. AI and crypto and blockchain, it's all bounded by energy. Obviously energy is a top conversation across all-
Matt Prusak
>> Yes.... >> aspects of global issues around who's got the most energy. I mean, we cover CapEx, data center growth like it's nobody's business on the enterprise side with the hyperscalers, that demand for capacity just for AI, never mind what you guys are doing, how are you looking at that? Do you see any answers around the corner? Are you prepared for it? Obviously with Hut8 and some of the things you're doing, you're pretty solid. What's that look like for you?
Matt Prusak
>> Yeah, so American Bitcoin really benefits from its partnership with Hut8. So it's our sibling company. They're a preeminent infrastructure provider, especially for Bitcoin mining. They have an ample pipeline that we can draw from. And Bitcoin is, at the end of the day, an energy-backed currency, right? So for us, having access to an energy pipeline that is at great prices in stable jurisdictions in the United States is a remarkable advantage.>> And the treasury play is great. You store it, you hold it, you stake it. Economics, how's that looking?
Matt Prusak
>> Listen, again, there's less Bitcoin out there for grabs every day. So I think when it comes to the treasury, it really just comes down to making sure that we're able to harness the capital markets to accumulate.>> Certainly get a lot of friends when you're stockpiling all that. Matt, thanks for coming on and congratulations on the public listing, and great, we appreciate what you do.
Matt Prusak
>> Thank you, appreciate it John.>> Thanks for coming on. Okay. Blazing the trail. Talk about blazing the trail, setting the trail up with the stockpile of Bitcoin. American mining and Bitcoin is all key to success, bounded by energy. This is theCUBE bringing our part to bring you the data. I'm John Furrier, your host. Thanks for watching.
