Bloomberg Daybreak: US Edition Evolving Money: Diversifying with Digital Assets (Sponsored Content)
Mar 29, 2026
Cosmo Jiang, general partner at Pantera Capital, evaluates blockchain protocols and tokens. Omid Malikin, Wall Street veteran and Columbia adjunct, frames Bitcoin as a hard currency and payment layer. They discuss Bitcoin’s role in reserves and portfolios. They contrast Bitcoin with protocols like Ethereum and Solana. They explore DeFi, on-chain fundamental analysis, and why institutions consider crypto exposure.
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Bitcoin As Hard Currency With Global Plumbing
- Bitcoin is a hard currency paired with a universal payment system that is scarce yet transferable globally within minutes.
- Omid Malikin contrasts this with gold, highlighting Bitcoin's easy storage and instant transacting via private keys.
Ukraine Donations Show Crypto's Mobility
- When Russia invaded Ukraine, donors sent crypto that the government could move instantly by transferring private keys.
- Omid Malikin uses this example to show crypto's practical advantage over gold in wartime evacuations.
Bitcoin's Correlations Vary By Cycle
- Bitcoin's correlations with stocks and gold have shifted across cycles, sometimes acting like flight-to-quality, other times moving with risk assets.
- Omid Malikin argues current decoupling may be early signs of Bitcoin behaving as monetary insurance over longer horizons.