The Wolf Of All Streets — “Lawmakers Tap Crypto Leaders To Advance BTC Bill | CryptoTownHall”

Host: Scott Melker | September 16, 2025

Episode Overview

This episode of CryptoTownHall, hosted by Scott Melker, centers on the evolving narrative of “Bitcoin treasury” strategies among corporations, the potential role of crypto industry leaders in legislation, and the launch of XYO’s new data-focused blockchain ecosystem. The tone is a blend of skeptical analysis, market savvy, and candid industry banter, making for a dynamic discussion on the intersection of crypto, finance, business innovation, and regulation in the U.S.

Key Discussion Points & Insights

1. Bitcoin Treasury Trend: Skepticism, Hype, and Viability

• Skepticism over Hype Cycles:
  Scott opens with concerns about the fleeting hype around corporate Bitcoin allocations (treasury companies) and questions their sustainability ([01:40]).
• Undervaluation & Real Value:
  David argues that while some companies have legitimate models, speculation and over-valuation based on the “Bitcoin on the balance sheet” narrative are dangerous ([02:18]):

  “If you ask me the question of should I be investing at a net present value as if they're worth $20 billion right now? The answer is are you out of your fucking mind?”
  — David ([03:50])

• Leverage and Options:
  Discussion on NACA, a Bitcoin-centric company, with debates over leverage, options, and confusing access on major broker platforms ([05:24]).
• Lack of Special Sauce:
  Only companies with a competitive edge or ability to monetize volatility will perform; others will languish at discounts to NAV ([07:50]).

2. Macro Drivers: Dollar Depreciation, S&P Forecasts, Investment Mindsets

• Dollar Depreciation Case:
  David and David Bailey discuss inflation as a catalyst for treasury moves, the historical S&P returns, and why corporates may increasingly opt for Bitcoin as a hedge ([08:49]).
• Comparative Returns:
  The real return of S&P post-inflation is projected to be 5–6%, making Bitcoin even at moderate growth alluring to treasury strategists ([10:06]):

  “Companies should be doing this just to stabilize their value, correct?” — David Bailey
  “That's exactly right, David.” — David ([10:37])

3. The End of the Bitcoin Treasury Hype?

• Hype Versus Maturity:
  Scott clarifies his position: the “end” is not of the strategy, but of the first big hype cycle—future moves should be more about fundamentals than speculation ([07:13]).
• Monetizing Volatility:
  Grant and David explain how sophisticated players are using Bitcoin’s unique volatility and tax strategies to maximize returns ([14:11]):

  “We've forgotten how much optionality Bitcoin really affords somebody that's really looking at it as a business instead of a scam.”
  — Grant ([14:11])

4. Crypto Cheerleaders & Lawmaking: The Hill's Strategic Bitcoin Meeting

• Do Lawmakers Really Listen to Industry Legends?
  Debate over whether figures like Michael Saylor and Tom Lee advance serious legislative conversations or serve as figureheads for headlines ([16:30]):

  “Why do we care about cheerleaders so much anymore? ... Do lawmakers care?”
  — David ([15:39])

• The Real Legislative Battle:
  Dan (a rare panelist guest) notes the real priorities are the Clarity Act and market structure, not just the SBIR (Strategic Bitcoin Reserve) ([17:11]-[20:28]):

  “The focus has to be on the Clarity act and market structure—that is a world more important, frankly, for our ecosystem than the SBIR.”
  — Dan ([17:11])

5. Market Structure and Macro Outlook

• Critical Legislation Timeline:
  The group agrees that progress on critical crypto legislation is imperative before midterms, or risk years of stagnation ([19:48]).
• New Political Risks:
  Speculation about the impact of potential leadership changes in D.C. on crypto policy ([20:25]).

6. Price Predictions, ETH & BTC Action, and Consensus Caution

• Cynicism Towards Analyst Forecasts:
  Scott mocks Citigroup’s cautious ETH price targets as “clickbait” ([21:38]-[22:26]).

• Panel Outlook:
  Paulus takes a cautiously bullish stance on Q4 but warns of a possible short-term correction after rate cut announcements ([24:26]):

  “I think that sell the news event tomorrow, I think that we get a few days, maybe a couple of weeks of sell off but I think that that turns around in October and I think we're setting up for a bullish Q4.”
  — Paulus ([26:39])

7. Institutional Ownership & Bitcoin: Fears and Facts

• Bitcoin and Institutional Penetration:
  David rebuts concerns that 15% institutional ownership is high, comparing it to gold and equities ([28:52]):

  “Individuals own less than 40% of gold...that cadre owns close to 80% of equities globally.”
  — David ([29:13])

8. Stablecoin Payments: Tech Giants Enter the Fray

• Google, Coinbase, Salesforce — and the Stablecoin Race:
  Adam explains it’s now “picks and shovels” season: payment rails are being built by fintech and tech giants, which signals a paradigm shift in online payments ([33:21]).
• Bank Pushback:
  Dan and Adam warn of aggressive banking lobbies working to carve out protectionist advantages, particularly at the state level ([35:11]):

  “There's a massive push from the American Bankers association happening…”
  — Dan ([35:11])

• Creepy Libra Comparison:
  Carlo draws parallels to Facebook’s failed Libra project, sparking discussion on the inevitable centralization of stablecoins ([36:33]-[38:07]).

9. Prediction: A Major US Tech Company Will Announce BTC Treasury

• Which ‘MAG 7’ Will Move First?
  Prediction that Alphabet, Meta, Nvidia, or possibly Apple will be the first big tech company to adopt a crypto treasury strategy ([39:48]-[41:20]):

  “I think by the end of the year, one of the Mag 7 companies is going to come out and announce a crypto treasury strategy.”
  — David Bailey ([39:50])

Notable Quotes & Memorable Moments

• Unit Bias and Lottery Ticket Investing:

  “People in crypto scoff at 10%, at 10x gains, as 1000% gains. That is more like lottery tickets. That is not investing.”
  — David ([03:25])

• On FinTech/Bank Turf War:

  “I think this is all a net win. ... The thing we need to be mindful of ... is this notion that there is some kind of a loophole here that is a threat to banks. I think that's a protectionist agenda from the banks.”
  — Adam ([34:13])

• Future of Corporate Bitcoin:

  “Think about what that means for price though. That's why you get people like Fink and others saying 500,000 plus, because what does it look like with the largest companies in the world all saving in bitcoin?”
  — David ([40:45])

Timestamps for Key Segments

• 00:00–04:54 — Opening skepticism: Bitcoin treasuries, valuation, and company strategies
• 07:13–10:48 — End of hype? Macro trends, inflation, and institutional asset management
• 14:11–16:30 — Monetizing volatility, tax strategies, and real-world business integration
• 16:30–20:53 — Lawmakers, industry leaders, and the real legislative fight
• 22:23–28:39 — ETH price banter, market positioning, and cautious Q4 bullishness
• 28:52–30:18 — Institutional bitcoin ownership: comparison to gold and equities
• 33:21–38:07 — Stablecoin payment rails, lobbying, Big Tech parallels to Libra
• 39:48–41:20 — MAG 7 prediction: Which big tech will "go Bitcoin"?
• 41:58–56:41 — XYO Deep Dive: Proof of location, data chain, XL1 launch, mission and applications

XYO: Building a Data-Focused Blockchain

[Full interview begins at 41:58]

• Marcus, XYO’s founder, details the launch of their data-centric blockchain (XYO Layer 1), built for scalable, verifiable, and efficient data storage, especially for IoT and AI-driven applications.
• Proof of Location & Proof of Origin: Solving real-world data trust via IoT networks and blockchain.
• Dual-Token Structure: XYO token for governance/rewards; XL1 as the layer 1 utility and fee token.
• Market Fit: Enabling deepin (decentralized physical infrastructure networks), data marketplaces, AI validation, and integration with traditional companies.

Closing Thoughts

The episode distills an underlying shift: from crypto hype cycles and clickbait to more pragmatic, sustainable, and institutional integration, both in treasury and technical application. Guests urge listeners to look for real value, recognize the role of macroeconomic forces, and keep an eye on both regulation and big tech’s next move.

For more on XYO and their latest launch, see the full segment beginning at [41:58].