What Actually Gets Built in a Bear Market | Bitcoin Venture Capital & the Future of Bitcoin Finance

The Wall Street Veteran Who Went All In on Bitcoin (And How He Makes It Grow)

Most people think generating a return on Bitcoin means taking on reckless risk or selling your stack. Adil Abdulali, Chief Strategy Officer at Amitis Capital, says the real opportunity is treating Bitcoin as pristine collateral and building disciplined financial strategies around it without ever parting with your sats. Wyatt sits down with Adil to unpack what it actually looks like to run a Bitcoin-denominated hedge fund in a market where institutional adoption is still crawling, distribution networks haven't caught up, and the most sophisticated strategies are only just becoming accessible to serious investors. Adil walks through his career from the ground up. From trading derivatives on Wall Street in the nineties, to seeding early hedge funds at Protege Partners, to getting introduced to Bitcoin through MIT's Media Lab in 2015, and ultimately going full-time Bitcoin in 2019. He breaks down how Amitis Capital uses Bitcoin as collateral to fund market-neutral trading strategies, why the basis trade opportunity has compressed as institutional capital flooded in, and where the next frontier lies as real-world assets get tokenized onto Bitcoin rails. They get into the Meanwhile connection. How Bitcoin-denominated insurance policies and repo products create a virtuous circle for investors who want exposure to Bitcoin financial strategies without triggering a taxable event. Then the conversation moves to Strategy. Where Adil lands on the treasury company model, why he thinks the infinite game may be over, and what the growing concentration of Bitcoin in the hands of large fiduciaries means for the soul of the network. They close out with what Amitis Capital is focused on now. Why the RIA distribution channel is still the key unlock, how the early hedge fund playbook maps directly onto Bitcoin asset management today, and Adil's case for why getting small investors into Bitcoin before the institutions take over is the most important thing anyone in this room can be doing. 🎟️ Join Us in Denver, Bitcoin Financial Services Summit The Bitcoin Financial Services Summit returns October 20-22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media [http://bffs.media] Chapters 00:00 Introduction to Adil Abdulali and Amitis Capital 02:50 Adil's Journey in Finance and Bitcoin 06:10 Transitioning to Bitcoin Asset Management 08:57 Strategies for Growing Bitcoin 11:59 The Role of Bitcoin as Collateral 14:52 Evaluating Bitcoin Capital Markets 18:13 The Impact of Derivatives on Bitcoin 20:54 The Future of Bitcoin and Quantum Risks 24:01 Bitcoinization of Finance and New Opportunities 33:01 Exploring Bitcoin's Future Opportunities 39:21 Adoption Challenges and Market Sentiment 46:25 Investment Strategies and Diversification in Bitcoin 55:09 The Impact of Institutional Players on Bitcoin 01:00:32 Future Directions for Bitcoin Financial Products Guest: Adil Abdulali Amitis Capital LinkedIn: linkedin.com/in/adil-abdulali-48186393 Host Links Wyatt O'Rourke X: x.com/wyattorourke_ Website: basilic.io [http://basilic.io] Jordan Guess X: x.com/jordanguess LinkedIn: linkedin.com/in/jordan-guess-cpa Website: bitment.co [http://bitment.co] Bitcoin Financial Services Media X: x.com/bffs_media Website: bffs.media [http://bffs.media] YouTube: @bffs_media Show Sponsors Basilic Financial: Your wealth deserves intention. Basilic is a Bitcoin-focused wealth management firm helping clients find balance between money and meaning. Financial planning, individual wealth management, retirement services for SMBs, and Bitcoin financial services. basilic.io [http://basilic.io] Bitment: Tired of messy CSVs and broken cost basis? Bitment is the first Bitcoin-native accounting platform for CPAs, advisors, miners, and serious investors. Clean Bitcoin bank statements, reliable cost tracking, full reporting, and seamless fiat integration through Plaid. bitment.co [http://bitment.co] Satoshi Pacioli: Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals who speak Bitcoin. satoshipacioli.com [http://satoshipacioli.com]

What Actually Gets Built in a Bear Market | Bitcoin Venture Capital & the Future of Bitcoin Finance

Most people think Bitcoin venture capital is just buying early and waiting. VJ Vesnaver, operating partner at Epoch, says the real work is finding the founders building the infrastructure that makes Bitcoin's future inevitable and backing them before anyone else sees it. Wyatt and Jordan sit down with VJ to unpack what it actually looks like to run a Bitcoin-native venture fund in a market where AI is sucking all the oxygen out of the room, treasury companies are dominating the narrative, and the highest quality builders are the ones nobody's talking about yet. VJ walks through Epoch's thesis from the ground up. Why bear markets produce better pipeline, how Bitcoin venture differs from traditional VC, and why the internal hurdle rate isn't a percentage, it's Bitcoin itself. From layer twos finding their niche to the regulatory tightrope founders walk daily, VJ gives a ground-level view of what's actually getting built in the Bitcoin ecosystem right now. They get into the Bitcoin treasury company debate. Where VJ lands on the Parker Lewis vs. Michael Saylor tension, why he didn't invest in any of them, and what it would actually take for treasury companies to generate real yield beyond financial engineering. Then the conversation moves to AI. Whether the productivity gains are real, why open source is the natural counter to regulatory capture of frontier models, and how agentic payments could quietly push Bitcoin deeper into the medium of exchange phase faster than any orange-pilling campaign ever could. We close out with what Epoch is watching right now. The boring, regulated, unsexy infrastructure plays that nobody's excited about yet, why banks lending against Bitcoin is still a massive unsolved problem, and VJ's case for why the courts, not Congress, are the real long-term guardians of freedom money. 🎟️ Join Us in Denver, Bitcoin Financial Services Summit The Bitcoin Financial Services Summit returns October 20-22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media [http://bffs.media] Chapters 00:00 Welcome Back and Introductions 05:07 Investing in the Bitcoin Ecosystem 08:04 Market Dynamics: Bear vs. Bull 11:17 Institutional Involvement and Regulation 14:45 The Role of Bitcoin Treasury Companies 17:36 AI's Impact on Bitcoin and Startups 38:04 The Impact of Money Printing on Wealth Inequality 41:05 AI's Role in Asset Inflation and Bitcoin's Appeal 42:49 Capital Flow: Bitcoin vs. AI Investments 46:32 Investing in Regulated Bitcoin Financial Products 49:38 The Future of AI: Open Source vs. Centralization 53:41 Navigating Regulatory Challenges in Crypto 59:14 The Role of Courts in Shaping Crypto Law 01:04:25 Bitcoin Financial Services Summit Guest: VJ Vesnaver Epoch VC X: @VJVesnaver Website: epochvc.io [http://epochvc.io] Host Links Wyatt O'Rourke X: x.com/wyattorourke_ Website: basilic.io [http://basilic.io] Jordan Guess X: x.com/jordanguess LinkedIn: linkedin.com/in/jordan-guess-cpa Website: bitment.co [http://bitment.co] Bitcoin Financial Services Media X: x.com/bffs_media Website: bffs.media [http://bffs.media] YouTube: @bffs_media Show Sponsors Basilic Financial: Your wealth deserves intention. Basilic is a Bitcoin-focused wealth management firm helping clients find balance between money and meaning. Financial planning, individual wealth management, retirement services for SMBs, and Bitcoin financial services. basilic.io [http://basilic.io] Bitment: Tired of messy CSVs and broken cost basis? Bitment is the first Bitcoin-native accounting platform for CPAs, advisors, miners, and serious investors. Clean Bitcoin bank statements, reliable cost tracking, full reporting, and seamless fiat integration through Plaid. bitment.co [http://bitment.co] Satoshi Pacioli: Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals who speak Bitcoin. satoshipacioli.com [http://satoshipacioli.com]

The Orange-Pilled Advisor: Building a Bitcoin-First Wealth Management Firm From Scratch

Most people think getting orange-pilled is the hard part. Matt Golliher, financial advisor and co-founder of Orange Horizon Wealth, says convincing yourself is easy… rebuilding your entire practice around Bitcoin is where the real work starts. Wyatt sits down with Matt Golliher to unpack what it actually took to transform a traditional, profitable RIA into one of the only fully Bitcoin-focused wealth management firms in the country. From compliance and custody to E&O insurance and custodian relationships, Matt walks through every brick wall Vista Investment Partners had to knock down, and rebuild, before Orange Horizon Wealth could go live in May 2024. Matt Golliher shares his path from dismissing Bitcoin as "digital Beanie Babies" in 2017 to obsessively researching it through the pandemic, the moment reading The Bitcoin Standard made him start sweating, and why getting orange-pilled at a bank would have ended his career as a financial advisor. They get into the three real options for Bitcoin-convicted advisors stuck at legacy firms, how Swan Bitcoin became the only viable custodian for spot Bitcoin at the time, and the nuts and bolts of how Orange Horizon operates as a DBA and partnership structure under Vista. We close out with the Rockford story… how Jeff Arand used a firm transition bonus to stack Bitcoin, then plugged his practice into Orange Horizon's infrastructure as its first satellite office, and Matt's take on navigating client sentiment in a bear market, where he stands on Bitcoin treasury companies and leveraged Bitcoin equities, and why he's too busy building to check the price. 🎟️ Join Us in Denver - Bitcoin Financial Services Summit The Bitcoin Financial Services Summit returns October 20–22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media [http://bffs.media] Chapters 00:00 Introduction to Bitcoin Financial Services 03:16 Matt Golliher's journey into Bitcoin 08:34 The evolution of Vista Investment Partners 14:52 The impact of COVID-19 on Bitcoin awareness 20:22 Advice for financial advisors on embracing Bitcoin 27:42 Building Orange Horizon Wealth 29:25 Compliance challenges in Bitcoin wealth management 34:09 Navigating Bitcoin custody and insurance 36:39 Understanding the Orange Horizon and Vista relationship 37:16 Customizing advisor partnerships 39:17 The Rockford office opening 46:20 Client sentiment in a bear market 52:52 Exploring Bitcoin treasury companies and investment products 59:04 Fringe opportunities in Bitcoin financial services 01:04:02 Introduction to Bitcoin Financial Services Summit 01:04:31 The importance of community in Bitcoin integration Guest: Matt Golliher Orange Horizon Wealth / Vista Investment Partners X: @MattGolliher Website: orangehorizonwealth.com [http://orangehorizonwealth.com] Host Links Wyatt O'Rourke X: x.com/wyattorourke [http://x.com/wyattorourke]_ Website: basilic.io [http://basilic.io] Bitcoin Financial Services Media X: x.com/bffs_media [http://x.com/bffs_media] Website: bffs.media [http://bffs.media] YouTube: @bffs_media Show Sponsors Basilic Financial — Your wealth deserves intention. Basilic is a Bitcoin-focused wealth management firm helping clients find balance between money and meaning. Financial planning, individual wealth management, retirement services for SMBs, and Bitcoin financial services. basilic.io [http://basilic.io] Bitment — Tired of messy CSVs and broken cost basis? Bitment is the first Bitcoin-native accounting platform for CPAs, advisors, miners, and serious investors. Clean Bitcoin bank statements, reliable cost tracking, full reporting, and seamless fiat integration through Plaid. bitment.co [http://bitment.co] Satoshi Pacioli — Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals who speak Bitcoin. satoshipacioli.com [http://satoshipacioli.com]

Your AI Agent Needs a Bitcoin Wallet. Here's Why.

Most people think of Bitcoin as something you hold. Moritz Kaminski, co-founder of Alby, says it's becoming something your AI agent spends. Wyatt sits down with Moritz Kaminski to unpack why the Lightning Network is quietly becoming the payment rail of the agentic internet, what it actually looks like to give an AI agent a self-custodial Bitcoin wallet, and why micropayments are the unlock that nobody in the AI conversation is talking about enough. Moritz Kaminski walks through his path from venture capital to building on open source Bitcoin infrastructure, why privacy on Lightning gives it a structural edge over stablecoins and on-chain crypto, and what Alby learned from putting a 100,000 sat bounty on a publicly available AI agent and telling the internet to hack it. Wyatt and Moritz get into the mechanics of routing nodes, native Bitcoin yield, and why major players like AWS, Cloudflare, Stripe, and MasterCard are all quietly building agentic payment infrastructure right now. We close out with Moritz Kaminski's take on where Bitcoin adoption actually stands as a payment method, why the digital gold narrative is still the strongest on-ramp for financial professionals, and what he'd tell anyone sitting on the fence about trying Lightning for the first time. 🎟️ Join Us in Denver — Bitcoin Financial Services Summit The Bitcoin Financial Services Summit returns October 20–22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media [http://bffs.media] Chapters [00:00] Introduction to Bitcoin and Albi [04:08] Understanding the Lightning Network [08:36] Growth and Adoption of the Lightning Network [11:40] Albi's Mission and Product Offerings [14:40] Bitcoin's Journey as a Payment Method [17:33] The Future of Identity and Trust with Nostr [21:23] AI, Agents, and Micropayments [30:10] Unlocking Micropayments and AI Agents [33:08] Building for AI: The New Product Paradigm [35:33] Learning from Hacking: Enhancing AI Agents [37:27] Product Market Fit: Bitcoin and AI Workflows [40:05] AI's Influence on Bitcoin: A Market Perspective [42:16] Integrating Lightning into Investment Products [48:45] Untapped Opportunities in the Lightning Ecosystem [50:37] Communicating Bitcoin's Value to Clients Guest: Moritz Kaminski Host Links Wyatt O'Rourke X: x.com/wyattorourke [http://x.com/wyattorourke]_ Website: basilic.io [http://basilic.io] Bitcoin for Financial Services Media X: x.com/bffs_media [http://x.com/bffs_media] Website: bffs.media [http://bffs.media] YouTube: @bffs_media Show Sponsors Basilic Financial — Your wealth deserves intention. Basilic is a Bitcoin-focused wealth management firm helping clients find balance between money and meaning. Financial planning, individual wealth management, retirement services for SMBs, and Bitcoin financial services. basilic.io [http://basilic.io] Bitment — Tired of messy CSVs and broken cost basis? Bitment is the first Bitcoin-native accounting platform for CPAs, advisors, miners, and serious investors. Clean Bitcoin bank statements, reliable cost tracking, full reporting, and seamless fiat integration through Plaid. bitment.co [http://bitment.co] Satoshi Pacioli — Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals who speak Bitcoin. satoshipacioli.com [http://satoshipacioli.com]

Your Bitcoin Estate Plan Has a Fatal Flaw (And It's Not Legal)

Most Bitcoin treasury companies talk about holding. Kyle Lawrence says the legal infrastructure around it is just as important. Jordan and Wyatt sit down with Kyle Lawrence, Partner at Falcon, Rappaport, and Berkman, to get his take on why most Bitcoiners are one lost passkey away from a real problem, what the law actually says about unclaimed Bitcoin wallets, and why the road to hell is paved with good intentions when it comes to trusting your family with your keys. Kyle breaks down his own journey from corporate M&A attorney to Bitcoin-focused legal counsel, why jumping down the rabbit hole through a Coinbase account was the best advice he ever got, and what five years of watching the space mature has taught him about where regulation is actually headed. Jordan and Wyatt get into the mechanics of wills, trusts, and estate plans for Bitcoin holders, why custody is the conversation that has to happen before any legal document gets signed, and how the Clarity Act could finally give the industry the roadmap it's been missing. We close out with Kyle's honest take on the guys at the Bitcoin conference telling people to skip their tax returns, why "this law is stupid" has never once worked as a legal defense, and where to find his work if you want to go deeper. 🎟️ Join Us in Denver — Bitcoin Financial Services Summit The Bitcoin Financial Services Summit returns October 20–22 in Denver, Colorado. RIAs, CPAs, lenders, miners, treasury companies, and Bitcoin-native operators all in one room. If you want to understand where Bitcoin and finance is going next, this is where you need to be. Get your tickets at bffs.media [http://bffs.media] Chapters [00:00] Introduction and Background [05:53] Kyle's Journey into Bitcoin and Law [09:49] Legal Implications of Unclaimed Bitcoin [13:35] Regulatory Landscape and the Clarity Act [20:44] The Commodity vs. Security Debate [24:17] From Conference Tales to Asset Protection [26:23] Navigating Estate Planning and Asset Protection [28:32] Understanding Custody and Digital Assets [32:29] Wills, Trusts, and Their Interplay [36:35] The Treasure Map of Bitcoin Inheritance [39:23] Bridging Bitcoin Ideals with Legal Realities [41:36] Tax Obligations and Bitcoin Compliance [45:58] Introduction to Bitcoin Financial Services Summit [46:27] The Importance of Community in Bitcoin Integration [46:48] BfFSPOutroFullAudioVideoPR001.mp4 Guest Links Kyle Lawrence Website: frblaw.com [http://frblaw.com] Podcast: Block and Order Host Links Jordan Guess X: x.com/jordanguess LinkedIn: linkedin.com/in/jordan-guess-cpa Website: bitment.co [http://bitment.co] Wyatt O'Rourke X: x.com/wyattorourke_ Website: basilic.io [http://basilic.io] Bitcoin for Financial Services Media X: x.com/bffs_media Website: bffs.media [http://bffs.media] YouTube: @bffs_media Show Sponsors Basilic Financial — Your wealth deserves intention. Basilic is a Bitcoin-focused wealth management firm helping clients find balance between money and meaning. Financial planning, individual wealth management, retirement services for SMBs, and Bitcoin financial services. basilic.io [http://basilic.io] Bitment — Tired of messy CSVs and broken cost basis? Bitment is the first Bitcoin-native accounting platform for CPAs, advisors, miners, and serious investors. Clean Bitcoin bank statements, reliable cost tracking, full reporting, and seamless fiat integration through Plaid. bitment.co [http://bitment.co] Satoshi Pacioli — Run a Bitcoin business? Meet your full-service accounting and tax partner built for the Bitcoin economy. Bookkeeping, financial reporting, tax compliance, and strategic planning for companies and individuals who speak Bitcoin. satoshipacioli.com [http://satoshipacioli.com]V