Scarce Assets: Alex Pron explains why wealth managers are finally embracing Bitcoin, how Wall Street distribution changes the market, & why long-term conviction matters more than cycles.

Topics covered include:

• Why Alex left Merrill to build a Bitcoin-forward RIA
• The simple portfolio math that helps clients understand Bitcoin risk
• How ETF liquidity enabled whale distribution without collapsing price
• Bitcoin vs crypto: strategic allocation vs speculative exposure
• Vanguard, Merrill, Bank of America & Morgan Stanley’s quiet pivot
• Why 2025 fundamentals improved while price disappointed
• The “Bitcoin IPO moment” and what comes after it
• AI, scarcity, and why Bitcoin differs from gold and commodities
• Why time horizon matters more than timing the market
• How advisors help clients stay committed through volatility

Scarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.

🧠 Chapters

00:00 — Wealth Management Meets Bitcoin 07:33 — How Bitcoin Changed an RIA’s Market Lens 13:39 — The Supply Story: Scarcity, Issuance, and 21M 19:27 — Bitcoin vs Crypto: Portfolio Roles and Risk 25:23 — Where Bitcoin Demand Comes From Next 30:32 — 2025: Price Action vs Fundamentals (What Happened) 41:31 — AI, Deflation, and Why Bitcoin Differs From Metals 54:46 — Sentiment, Cycles, and the Long-Term Setup 58:42 — Outro and Disclaimer