Bitcoin Hasn’t Changed—So Why Is Everyone Selling?

<p>Subscribe to my channel for more high signal bitcoin content!</p><p> </p><p>Bitcoin hasn’t changed—but market sentiment, Bitcoin treasury companies, institutional adoption, and the custody landscape are shifting fast. In this episode, Jackson Mikalic explains the Bitcoin bear market, why investors are panicking, and what may drive the next phase of adoption.</p><p> </p><p>We also explore Bitcoin self-custody, multi-institution custody, inheritance planning, AI agents using Bitcoin, Wall Street’s growing involvement, and whether the Trump administration delivered on its promises to the Bitcoin industry.</p><p>Jackson Mikalic is the host of <em>The Last Trade</em> podcast and works with Onramp Bitcoin, where he helps individuals and families think through long-term Bitcoin ownership, security, custody, and generational wealth.</p><p> </p><p>This conversation is for educational purposes only and should not be considered financial advice. </p><p> </p><p><u><em>Timestamps</em></u></p><p> </p><p>00:00 Inflation, Bitcoin and the political rug pull</p><p>01:23 Bitcoin hasn’t changed—so what has?</p><p>02:11 Understanding Bitcoin’s latest market cycle</p><p>03:01 Leverage, liquidations and collapsing crypto assets</p><p>05:30 Is now the time to buy more Bitcoin?</p><p>06:25 Financial institutions are building during the bear market</p><p>08:09 Why Bitcoin treasury companies may be permanently impaired</p><p>10:32 Own Bitcoin—not just Bitcoin exposure</p><p>12:39 Why Onramp Bitcoin was created</p><p>14:39 Bitcoin inheritance and generational wealth</p><p>15:20 The risks of leaving Bitcoin on exchanges</p><p>16:26 When self-custody becomes too complicated</p><p>17:12 How multi-institution custody works</p><p>20:31 Proof of reserves versus proof of ownership</p><p>23:19 Why podcasts build trust for Bitcoin businesses</p><p>29:12 Does Bitcoin’s price need to keep rising?</p><p>31:30 Is there a ceiling to Bitcoin self-custody?</p><p>33:25 AI, leaked data and physical security risks</p><p>35:22 Protecting your family versus complete sovereignty</p><p>39:12 Bitcoin as money, savings and a unit of account</p><p>40:10 Why hyperbitcoinization is taking longer than expected</p><p>41:30 Could AI adopt Bitcoin before humans?</p><p>46:49 Did Trump rug pull the Bitcoin industry?</p><p>47:58 What went wrong with Bitcoin treasury companies</p><p>48:34 Wall Street’s Bitcoin infrastructure buildout</p><p>50:45 Why financial institutions will eventually bend the knee to Bitcoin</p><p>53:29 How Bitcoin changes the way you see the world</p><p>56:22 Podcasting, creativity and meaningful relationships</p><p>58:50 Where to follow Jackson and learn about Onramp Bitcoin</p><p> </p><p><strong>Connect with Us:</strong></p><p> </p><p>Jackson on LinkedIn:<a href="https://www.linkedin.com/in/jacksonmikalic/">https://www.linkedin.com/in/jacksonmikalic/</a></p><p> </p><p>Onramp Media Podcast: <a href="https://open.spotify.com/show/15ONfoz8s1vqyVGbg7re4H">https://open.spotify.com/show/15ONfoz8s1vqyVGbg7re4H</a></p><p> </p><p>Onramp Bitcoin: <a href="https://onrampbitcoin.com/">https://onrampbitcoin.com/</a></p><p> </p><p>Kyle on X: <a href="https://x.com/thekylehuber">https://x.com/thekylehuber</a></p><p> </p><p>Kyle on Instagram: @kylehuber21</p><p> </p><p>Kyle&#39;s Website: kylehuber.com</p><p> </p><p>⚡ If this conversation gave you something to thinkabout, share it with someone building on Bitcoin. </p><p> </p><p><strong>Support Yourself, Support the Pod! </strong></p><p><br></p><p>15% off at Born to Be Free Online Store: <a href="https://oshi.link/C2mHb0">https://oshi.link/C2mHb0</a></p><p>Buy the Daylight Co DC-1: <a href="https://buy.daylightcomputer.com/WEARESATOSHI">https://buy.daylightcomputer.com/WEARESATOSHI</a>($25 off with code: WeAreSatoshi) </p><p><br></p><p>15% OFF your order of earthy energy : <a href="https://liveearthy.co?bg_ref=c8KTLsLeKv">https://liveearthy.co bg_ref=c8KTLsLeKv</a> (code KHuber) </p><p><br></p><p>10% off Chroma Blue Light Glasse