Diamond Hands Podcast #10: Inflation Expectations Boosting Bitcoin, MSOS Cheap Multiples Get Cheaper
In this week’s Diamond Hands Podcast #10, we again speak with Benjamin A. Smith with Anthony Varrell about crypto, cannabis and psychedelics. On the agenda: Is Bitcoin being bid as a store of value to combat inflation? As always, the panel gives their updated views on the state of the cannabis and psychedelic markets.
Episode #10 CliffsNotes…
@1:35-4:06 We talk about the viral tweet by Twitter/Square CEO Jack Dorsey. Everywhere you look, prices are skyrocketing across the curve, and Bitcoin, gold and silver could be a beneficiary as people seek to preserve their wealth.
@4:07-6:47 The path we are heading down should inflation keep running hot. Investors with capital can always preserve their wealth, but the lower end of the socio-economic spectrum will have trouble keeping up. We are dealing with a cost-push inflation dynamic.
@6:48-8:25 Was high inflation expectations the reason why Bitcoin saw an all-time high last week? It appears that is was a factor.
@8:26-11:05 How high can we go in Bitcoin? Mastercard allows payment and rewards.
@11:06-13:11 There’s no doubt about the viability of crypto now. We have passed key adoption thresholds with the younger generation.
@13:12-16:06 Mark Cuban believes Ethereum has the biggest upside of all the main cryptocurrencies. Anthony opines on why that is the case. He’s bullish.
Cannabis
@16:08-20:59 We talk about our experiences at MJBizCon Conference in Las Vegas. Unfortunately, key takeaways were short on display, although the atmosphere remained upbeat. The market rallied to start the conference, but fell back throughout the week.
@21:15-22:30 Tilray became the third cannabis company to sign a supply agreement with Luxembourg, which last week permitted citizens to grow up to four cannabis plants in their homes or gardens. Will this legalization of growing spread to other nations?
Psychedelics
@22:33-25:05 Biggest ever psychedelic industry conference taking place in Wonderland, Florida in two weeks. We discuss whether the sector could see a bid on anticipation and whether it will move the needle. It’s been a rough drawdown.
@25:08-26:55 However Ben goes on record by predicting that the sector will rally of COMPASS Pathways has blowout endpoint Phase 2b results (i.e. shows frontline therapeutic potential).
@26:57-28:26 We talk about the old cannabis days where Constellation Brands $5 billion investment in Canopy Growth reversed the market 180 overnight after a prolonged bear market.
@28:27-30:35 We discuss the great public companies and research coming out of the U.K. We discuss the huge Total Addressable Market in the industry and how the fundamentals from a market perspective are fantastic.
@30:36-32:10 Anthony believes Big Pharma might get engaged in the space if COMPASS Phase 2b endpoint exceed expectations.
Listen to the end to for our intermediate term picks.
To view Diamond Hands Podcast Episode #9, click here.
