Credit Risk & The Bitcoin Hedge with Greg Foss & Andy Edstrom

“Over time bitcoin will be the benchmark for proper capital allocation and everything else is going to pay the pauper, and Western Union? Uh, I’m sorry guys, but your business is going the way of the horse and buggy.”— Greg FossLocation: RemotelyDate: Thursday 23rd SeptemberCompany: Validus Power Corp, Swan BitcoinRole: Bitcoin Strategist, Head of Institutional InvestmentOver the last week, markets worldwide were hit hard as fears continue to grow over the liquidity of Chinese property behemoth Evergrande. The S&P, Dow Jones and Nasdaq all suffered their worst days in months.Evergrande is China's second-largest and the world's most indebted real estate developer. It expanded rapidly by borrowing more than $300 billion. however, when new rules were introduced to control the amount owed by big large estate developers, Evergrande was forced to sell properties at a significant discount and is now struggling to pay its debts.In 2008, the Great Financial Crisis began with an insolvent institution which precipitated a credit panic across the global banking system. When markets are saturated with debt, a single event can turn into a contagion.Will Evergrande spark another financial meltdown, or will it prove to be too big to fail?In this interview, I talk to the Head of Institutional Investment at Swan Bitcoin and Bitcoin Strategist Greg Foss. We discuss the Evergrande insolvency, whether a debt crisis is looming, and why Bitcoin is the perfect hedge.This episode’s sponsors:Gemini - Buy Bitcoin instantlyBlockFi - The future of Bitcoin financial servicesSportsbet.io - Online sportsbook & casino that accepts BitcoinCasa - The leading provider of Bitcoin multisig key security.Exodus - The world's leading Desktop, Mobile and Hardware crypto wallets.Ledger - State of the art Bitcoin hardware walletCompass Mining - Bitcoin mining & hosting-----WBD402 - Show Notes-----If you enjoy The What Bitcoin Did Podcast you can help support the show by doing the following:Become a Patron and get access to shows early or help contributeMake a tip:Bitcoin: 3FiC6w7eb3dkcaNHMAnj39ANTAkv8Ufi2SQR Codes: BitcoinIf you do send a tip then please email me so that I can say thank youSubscribe on iTunes | Spotify | Stitcher | SoundCloud | YouTube | Deezer | TuneIn | RSS FeedLeave a review on iTunesShare the show and episodes with your friends and familySubscribe to the newsletter on my websiteFollow me on Twitter Personal | Twitter Podcast | Instagram | Medium | YouTubeIf you are interested in sponsoring the show, you can read more about that here or please feel free to drop me an email to discuss options.