The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 Introduction & the debasement trade 05:22 Liquidity conditions & bitcoin’s resilience 08:38 Bitcoin cycles: halving vs liquidity 11:43 U.S. debt explosion & nominal distortion 14:36 Government signals & gold’s resurgence 17:34 Shifting incentives & institutional positioning 19:44 Global adoption: U.S., India, & Asia-Pacific 23:07 Latin America’s adoption landscape 25:54 Financial institutions & ETF-driven onboarding 29:00 Bitcoin management: custody, risk, & MIC 37:18 Security realities in Latin America 46:29 Gold & bitcoin as sound money 01:03:34 Market structure, stablecoins, & centralization 01:11:42 Closing remarks, outro, & disclaimer