Podcast Summary: The Wolf Of All Streets
Episode: Is Bitcoin Still "Digital Gold"? Precious Metals Go PARABOLIC!
Host: Scott Melker
Guest: Keith Grossman, President of MoonPay
Date: January 29, 2026
Overview
This episode dives into the current “parabolic” run in precious metals and the rise of tokenized real-world assets, such as tokenized gold and copper. Scott Melker and guest Keith Grossman (MoonPay president) discuss whether Bitcoin’s narrative as “digital gold” is threatened by these developments. They also analyze fresh industry news, including Fidelity’s stablecoin and the U.S. regulatory landscape, and unveil MoonPay’s major partnership with the X Games. The episode features firsthand industry experience, market insights, and reflections on mainstream crypto adoption.
Key Discussion Points & Insights
1. Precious Metals, Tokenization, and “Digital Gold”
- Metals Market Going Parabolic:
- Gold, silver, and copper prices have been surging, with digital and tokenized versions following suit. Grossman describes excitement over “real assets getting tokenized for the first time ever.” (02:09)
- Example: Tether is “the largest holder of gold outside of banks and countries.” (02:09)
- Copper futures have been tokenized—Grossman tested the flow and “doubled [his money] in two days” though he notes the user experience is not consumer-friendly yet (03:18).
- User Experience Issues:
- The process is stressful/confusing for consumers (e.g., receiving unnecessary liquidation warnings) and requires buying full contracts, which is pricey and unfamiliar for crypto users (03:58–06:05).
- Debate: Does Tokenized Gold Threaten Bitcoin’s Narrative?
- Scott Melker: “Just because you can trade gold digitally doesn’t make it have the qualities that we love about bitcoin.” (06:05)
- Grossman: “Physical gold still needs some sort of centralization…There’s a lot of protections Bitcoin provides…that is irreplaceable compared to anything else.” (06:48)
2. Fidelity’s Stablecoin and Institutional Adoption
- Fidelity’s Stablecoin Announcement:
- “A massive bet that future of banking is on blockchain.” (07:38)
- Highlights the normalization of stablecoins and signals coming industry-wide adoption by legacy institutions (08:10–09:29).
- Validates MoonPay’s thesis: “The world is getting faster, more efficient, and cheaper.” (09:29)
- Interoperability Concerns:
- Every major institution may launch its own stablecoin; unclear how they’ll work together (09:29).
- The move to Ethereum by Fidelity is a major signal.
3. U.S. Crypto Regulatory Landscape (“Clarity Act” & Congressional Action)
- Status Quo:
- Regulatory progress is slow and frustrating (“getting obnoxious and exhausting”—10:38).
- White House is actively involving exchanges and banks in discussions around a potential bill.
- MoonPay’s Perspective:
- Grossman: “We’re slightly different from Coinbase. The two most important issues: the definition of DeFi, and a strong illicit finance view.” (11:45)
- MoonPay wants clear regulation for on/off ramps—not for protocols themselves.
- “This seems perfectly ripe for a solution. Everyone is somewhat upset somewhere, right? So that…seems to be the path forward.” (13:54)
4. Tangent: Value of College Education
- Fun, candid detour discussing whether formal education remains valuable—both see value in learning to think/process information (14:08–15:53).
5. Mainstreaming Crypto: MoonPay and X Games Partnership
- Major Announcement: MoonPay is now the name partner of the newly league-structured X Games ("MoonPay X Games")—a reimagining with four core franchises (New York, LA, Sao Paulo, Tokyo).
- Grossman shares the backstory: “We could now essentially bring all of our partners into the X Games...all our partners have to do is ultimately, you know, develop a great product.” (21:15)
- The partnership will “democratize access to DeFi” for mainstream audiences by integrating into beloved pop culture and extreme sports properties (18:13–21:15).
- Vision for Partnership:
- Structure similar to F1, with traveling teams and the potential for a Netflix-style docuseries (22:07–22:37).
- “The X Games are counterculture to sports the same way that crypto is counterculture to finance…the alignment is absolutely beautiful.” (23:02)
- Brand Boost & Algorithmic Leverage:
- The naming partnership ensures that even outside crypto, “MoonPay” will get perpetual mention (28:06–28:12).
- “By having Moonpay in the title sponsorship, I’ll always get scraped off organic search and algos as it relates to X Games content and extreme sports, not just crypto.” (27:22)
6. Mainstream Interest in Crypto: Will It Return?
- Adoption Paradox:
- Despite more real-world adoption, public and media attention has waned—YouTube crypto views are drastically down from past highs (26:27).
- Melker: “If Bitcoin was $120,000 today, this show would have eight to nine times more people watching…” (26:27)
- Grossman’s Career Reflection:
- “If you’re considering a career in crypto, you have to get comfortable with…the trajectory is a few years of being an idiot, then a genius, then an idiot again.” (25:27–26:15)
7. Personal Anecdotes & Industry Culture
- Hosts reminisce about X Games in the early 2000s (DJing, business flops), reflect on skate/BMX legends, and swap Gen X parent stories about toys (e.g., American Girl dolls, Labubu, Roblox) to liken franchise-building in sport to blockchain ecosystems (17:08–32:14).
Notable Quotes & Memorable Moments
- On tokenized metals & Bitcoin:
- Scott Melker (06:05): “Just because you can trade gold digitally doesn’t make it have the qualities that we love about bitcoin. Because that gold is still stored somewhere in someone’s bank with a trusted third party—you’re trading a paper version of it. Not the same thing.”
- Keith Grossman (06:48): “If any person who’s going to make the argument that tokenized gold replaces the notion of bitcoin doesn’t really understand what bitcoin’s…proposition is, or what makes it unique.”
- Institutional Validation:
- Keith Grossman (08:10): “This is an incredibly big deal…having stablecoins proliferate allows for faster settlement time… especially with someone like Fidelity—it allows them to capture on the economics, you know, really, really nicely.”
- On crypto & career cycles:
- Keith Grossman (25:27): “The trajectory [is] a few years of being an idiot to then being a genius to then being an idiot again.”
- On mainstream branding:
- Keith Grossman (28:12): “It’s the MoonPay X Games. 100%.”
- Parental Humor:
- Keith Grossman (31:36): “The American Girl dolls are fascinating because they land you on the doll and then they expand you on like all the accessories.”
- On market sentiment:
- Scott Melker (26:27): “The news could be exactly the same…But if Bitcoin was $120,000 today, this show would have eight to nine times more people watching.”
Key Timestamps
- 02:09 – Keith on tokenized metals & Tether’s gold
- 03:16–06:05 – User experience problems in tokenized assets
- 06:05–06:48 – Debate: digital gold vs. bitcoin
- 07:38–09:29 – Fidelity’s stablecoin & institutional adoption
- 10:38–14:08 – Regulatory discussion: Clarity Act and MoonPay’s take
- 17:08–22:07 – The MoonPay X Games partnership explained
- 26:27 – Mainstream adoption, algorithmic shifts, and viewership
- 27:22 – Branding and the power of naming rights
- 31:36 – Parental/branding analogies and generational cycles
Tone & Style
Friendly, conversational, and candid. Both Scott and Keith mix sharp analysis with industry lore and personal anecdotes. The episode maintains a light and humorous tone even while unpacking serious financial and regulatory topics.
Conclusion
This episode offers an insider’s look at shifting narratives in crypto—from tokenized assets and Bitcoin’s ongoing value, to major institutional moves and regulatory battles, all the way to MoonPay’s strategy to bring crypto into mainstream culture via the X Games. With memorable quotes and market perspective, it’s a must-listen for those tracking both crypto adoption and intersectional trends in finance, technology, and entertainment.