Coin Stories with Natalie Brunell

Episode: Larry Lepard & Bob Burnett: The Boomer Case for Bitcoin and Why It Will Outperform Gold

Date: January 29, 2026
Host: Natalie Brunell
Guests: Larry Lepard (Author, Investment Manager) & Bob Burnett (Founder & CEO, Barefoot Mining)

Episode Overview

This episode explores the generational and monetary themes underpinning the rise of Bitcoin, especially from the perspective of Baby Boomers. Larry Lepard and Bob Burnett—both seasoned in gold, technology, and investing—articulate why Bitcoin solves problems inherent in the monetary system, why it appeals (and should appeal) to boomers, and how it stands to outperform traditional assets like gold and real estate. The conversation unpacks wealth concentration, shifting generational fortunes, systemic unfairness, and why the next "big print" of money will supercharge Bitcoin’s path.

Key Discussion Points & Insights

1. Introductions and Backgrounds

• Bob Burnett (00:49): Former CTO at Gateway with 40+ years in tech, entered Bitcoin via mining in 2017; movement from technical interest to monetary revolution.
• Larry Lepard (01:48): Long-time tech and investment manager, pivoted from gold/silver to Bitcoin post-2008 GFC; wrote a book advocating sound money.

2. Gold Bugs, Sound Money, and Tribalism

• Bridging Gold and Bitcoin (03:13): Larry explains friction between gold fans and Bitcoin maximalists, stating,

  "We're all on the same team and the enemy is the Keynesians, you know, the enemy is the central banks." (03:13)

• Notables: At gold conferences, Lepard sees a growing acceptance of Bitcoin among older gold investors (06:31).

3. The Boomer Case for Bitcoin

• Historical Technological Parallels (08:56): Bob frames Bitcoin as the "decentralization of money," connecting it to prior revolutions—the personal computer (compute decentralization) and internet (information decentralization).

  "...the decentralization of compute, now they can have a baby. And that baby is Bitcoin. The decentralization of money." (09:58)

• Generational Resistance: Major obstacles are not just technical but social, including risk aversion, over-reliance on traditional wealth advisors, and trauma from crypto frauds like Sam Bankman-Fried (09:59–11:34, 12:02).

4. Wealth Concentration & Generational Divides

• Asset Appreciation Disparities: The narrative that all boomers have benefitted is overblown; wealth is regionally and demographically concentrated.

  "I think percentage wise, it's a much smaller number that's affluent than people think...maybe 30%." – Bob (15:05)

• Real Estate as Wealth Engine: Not all boomers experienced massive real estate gains. Regional disparities and changing home-building trends matter (16:13–17:45).
• Pensions & the Stock Market Funnel: A generational shift away from pensions turned retirement into a stock market lottery via 401ks and IRAs, benefiting Wall Street (19:03–20:21).

5. Inflation, Real Estate, and the “Illusion of Getting Ahead”

• Inflation-Driven Wealth: Real estate prices have simply tracked monetary expansion, not genuine prosperity.

  "You think you've done great, right? Oh, my gosh. I generated all this wealth. You've tracked the expansion of the money supply." – Natalie (21:53)

• Cost Pressures Across Generations: The ratcheting effect of “higher asset values” means higher living, maintenance, and tax costs. Barriers for new buyers are immense (24:09).

6. Social Security and Looming Fiscal Crisis

• The Debt Bomb: With the Social Security trust depleting within a decade, the only "solution" appears to be further money printing, which equates to inflationary losses for everyone (28:00).

  "My general belief is that just having the government in this business is just a stupid thing." – Larry (28:59)

• The Unstoppable Political Reality: Older, wealthier voters block reform, but as demographics shift, economic stress will make once-untouchable issues fair game (30:38–31:13).

7. The Systemic Unfairness of Modern Money

• Corruption and Accountability: Both guests lament unaccountable government spending, the welfare state’s entrenchment, and the lack of real consequences for corruption (34:25–37:27).
• Bitcoin as a System of Truth: Its transparency and scarcity offer a remedy to government abuse.

Memorable Quotes & Moments

• On the boomer–millennial divide:

  "There's this perception that the boomers have essentially borrowed from their children's generation and placed the tab on them...but it's not everyone." – Natalie (13:44)

• Real estate is not ‘wealth creation’ but inflation protection:

  "You just saved in something they couldn't print, which is called real estate." – Larry (22:24)

• History on repeat:

  "If you know that there's an inflationary policy...what do you do? You buy real estate. You lever it up...and you get rich, right?" – Larry (20:50)

• On coming financial pain and monetary reset:

  "I think our money is going to fail and I think that's going to lead to reset...Transition from here to there will be bumpy and there'll be some serious pain. There is no free lunch, and we've behaved as if there is one." – Larry (37:27)

[38:54] – The Coming "Big Print" & Why It Matters for Bitcoin

• Lepard's Forecast: The Fed is quietly ending tightening and resuming money creation. A major surge in money supply—and therefore inflation—is imminent, likely within 18 months.

  "The only way to print away the debt is to have massive inflation...We're not going to have [the same benefits as post-WWII]." – Larry (42:02)

• Bitcoin and gold will surge; Bitcoin especially will "explode" as wider recognition of this monetary debasement arrives.

  "Once it happens, bitcoin's going to explode. It's going to go to 200,000, 300,000, very, very quickly." (43:58)

• Timing and Missed Gains:

  "If you missed the best 10 days, you were down...You're going to wake up one day and it's going to be 150 [thousand], going to 250. And how are you going to get back in?" – Larry (46:15)

[47:01] – Bitcoin Mining and Economic Realities

• Bob’s Metrics: The actual cost to mine a Bitcoin is currently ~$88,000. This creates a "soft floor" under price, supporting the bullish case even in short-term slumps.

[48:59] – Exporting Inflation and Global Dollar Pressures

• US exports inflation abroad, but foreign countries are waking up and securing alternatives. When US can’t offload inflation, pain at home will intensify (51:02).

The Boomer Case for Bitcoin (51:02–54:26; summary points)

• Protect What You Have: For boomers, the window to secure life savings is narrowing. Bitcoin offers the ultimate insurance policy against further debasement.

  "If you're a boomer...this is your last chance. Whatever you have...you have to protect it—both for the rest of your life and for what you're going to pass on. And I think bitcoin is the only insurance policy you can buy against that." – Bob (53:56)

• Bitcoin's Edge over Gold:

  "Bitcoin is better than gold and silver because it's digital, it's easier to store, it's cheaper to store, and...it's also undergoing an adoption curve." – Larry (51:33)

• On Asymmetry and Inevitable Adoption:

  "If you buy it today, you're buying something everyone's going to want. It's what Michael [Saylor] says: it's inevitable. Everybody needs it and they don't understand it, but they're going to come to understand it." – Larry (52:46)

• Appeal to Fairness and American Ideals:

  "If there's anything that upsets me more than anything else, it's unfairness. And I think our monetary system is incredibly unfair." – Larry (55:15)

Noteworthy Segments & Timestamps

• 00:49 — 03:41: Guests introduce themselves and their sound money journey
• 04:47 — 06:42: Gold bug resistance to Bitcoin and realities of cross-sound money adoption
• 08:56 — 11:34: Technological revolutions: PC, internet, Bitcoin — and why boomers struggle with Bitcoin
• 14:57 — 18:44: The myth of universal boomer wealth, regional/structural pension differences
• 21:53 — 24:09: How real estate “wealth” is just keeping pace with inflation
• 28:00 — 34:25: The Social Security debt bomb and looming generational reckoning
• 37:27 — 41:33: Prognoses on monetary failure, fourth turning, and potential reset
• 43:58 — 46:29: The coming “pop” in Bitcoin price, why market timing is a trap
• 47:01 — 51:02: Mining economics and international implications of dollar-driven inflation
• 51:02 — 54:26: The elevator pitch for boomers: Buy Bitcoin as an insurance policy

Conclusion

Tone: Candid, urgent, and educational with moments of technical wonkiness and personal storytelling.
Message to Boomers and All Generations:
Our monetary system is fundamentally unfair and unsustainable, designed for asset holders to "not get poor" rather than get ahead. For Boomers especially, Bitcoin is not only the logical successor to gold as sound money, but also the only realistic insurance policy left in a broken system. Ignoring it, or trying to time the market, risks missing a one-way, generational opportunity.

Additional Resources

• [Larry Lepard’s Book: “The Big Print”]
• [Barefoot Mining, Bob Burnett’s Company]
• [Natalie Brunell’s “Bitcoin is for Everyone”]

(All links available in show notes)

“Buy bitcoin and just live your life. This is incredibly easy compared to trying to pick stocks.”
– Larry Lepard (53:50)