What Bitcoin Did The Commodity Shift, Credit Crisis & Bitcoin | Eric Yakes
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Mar 24, 2026 Eric Yakes, macro investor and writer on geopolitics, commodities, and monetary trends. He maps a commodity shift and why sovereigns are buying gold. He warns private credit fragility and explains how central banks may face extreme printing. He explores AI’s effects on jobs, the rise of agent economies as onramps to Bitcoin, and why Bitcoin looks like deep value today.
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PubKey Is A Member Run Bitcoin And AI Hub
- Eric describes PubKey as a member-run 6,000 sq ft hub with self-hosted servers, GPU racks for LLMs and Bitcoin-miner-heated floors and hot tub.
- This illustrates grassroots Bitcoin community infrastructure combining mining, AI hosting and self-custody culture.
Global Debt Removes The Escape Valve
- Global debt is now universally high so there's no escape valve to deflation, forcing a shift from credit to commodities.
- Eric Yakes points to structural reserve shifts, reduced US treasury demand and sovereign commodity accumulation as drivers of the commodity inflection.
AI Slashes Startup Costs While Restructuring Labor
- AI both reduces fixed costs for startups and creates large labour displacement risks, reshaping who captures productivity gains.
- Yakes sees lower marginal costs for software and new founder models, but warns of interim job losses and credit stress.
