Galaxy’s Alex Thorn joins TLT to decode “slop,” ETF-driven passive flows, and why bitcoin’s next era belongs to institutions—not hobbyists.

We cover Treasury tweets, M&A, stablecoins, the debasement trade & more. Get Onramp’s weekly Research & Analysis → https://onrampbitcoin.com/research

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🎙️ About This EpisodeGalaxy’s Alex Thorn joins The Last Trade to unpack the next era of Bitcoin — from hobbyists to institutions. We cover treasuries and the Treasury, ETF flows, macro malaise, stablecoins, and why the coming years will be defined by passive institutional bids and sound-money scarcity.

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

🧠 Chapters

00:00 – Slop Season with Galaxy’s Alex Thorn

08:19 – Bitcoin at 17: From Cypherpunks to Asset Managers

13:55 – The Great Transition: Hobbyists Out, Institutions In

18:54 – Passive Flows & the End of the Four-Year Cycle

26:41 – Wall Street Buys the Plumbing: M&A & Market Maturity

32:54 – Economic Malaise, Inequality, & the Debasement Trade

46:42 – The Unit Bias Problem & the Next Wave of Adoption

52:34 – DATs, Whales, & the Hand-Off to Real Businesses

01:10:38 – Stablecoins, Dollar Rails, & Bitcoin’s Simplicity

01:15:21 – Outlook for 2026, Outro, & Disclaimer

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🎧 The Last Trade | Final Settlement | Scarce Assets

Follow Alex Thorn (Galaxy Digital) on X →

https://x.com/intangiblecoins

Matthew Montgomery, Founder of MAEVLO and veteran of the oil & gas industry, joins Scarce Assets to reveal why energy prices and Bitcoin are destined to rise together — and how his firm is pioneering a fund that turns oil royalties into Bitcoin reserves. This episode connects the dots between America’s energy plateau, AI-driven power demand, and Bitcoin’s fixed supply, offering one of the clearest frameworks yet for understanding the coming era of scarcity.

Connect with Onramp // Onramp Institutional // Jackson Mikalic on X // Matthew Montgomery on X // MAEVLO Company

WHAT WE COVER:

- How the U.S. shale boom turned America into a net energy exporter

- Why the era of cheap energy is ending — and what happens next

- The surprising parallels between oil extraction and Bitcoin mining

- How AI data centers are quietly rewriting global energy demand

- Why energy scarcity could be the catalyst for Bitcoin’s next bull run

- How MAEVLO's fund bridges real-world energy assets with Bitcoin reserves

KEY INSIGHTS DISCUSSED:

- 80% of oil well production occurs in the first 24 months

- LNG exports projected to triple by 2030

- Data center demand expected to add +10 BCF/day of natural gas consumption

- U.S. has already drilled the best shale wells — the easy energy is gone

- Every MAEVLO investor fund now allocates a portion of cash flow to Bitcoin reserves

MATTHEW’S THESIS:

“We’re entering an era where both energy and Bitcoin are getting more scarce. Oil wells deplete, block rewards halve — the same economics drive both. The only rational strategy is to own the hardest assets in the world.”

WHO IS MATTHEW MONTGOMERY?

- Founder & Managing Director, MAEVLO Company

- 20+ year career across shale exploration, mineral rights, and private equity energy funds

- Early pioneer integrating Bitcoin into traditional energy investments

- Advocates for sound money, hard assets, and family wealth preservation

CHAPTERS:

00:00 — Intro & Matthew’s Background

03:00 — The Shale Revolution Explained

10:30 — Lessons from Building in Energy

17:00 — Parallels Between Shale and Bitcoin

20:00 — Inside the Mineral & Royalty Market

27:30 — Why Investors Seek Yield and Inflation Hedges

33:30 — Oil, Gas, and the Inflation Trade

39:00 — Discovering Bitcoin & Sound Money

46:00 — “Scarcity Compounded”: Energy Meets Bitcoin

57:00 — The Coming Energy Supply Crunch

1:03:00 — How MAEVLO Integrates Bitcoin

1:08:00 — Preserving Value & Getting Off Zero

1:16:00 – Outro & Disclaimer

Scarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

#Bitcoin #Energy #Scarcity #Inflation #AI #OilAndGas #Macro #Onramp #HardAssets #ProofOfWork

Zuby (@ZubyMusic) joins The Last Trade to reveal why bitcoin represents the greatest asymmetric opportunity for millennials and Gen Z - and why the journey from $100K to $1M will be MUCH easier than getting your first $100K.

🚨WHAT WE COVER:

- Why 100,000+ tech workers just lost their jobs (and who's next)

- The Nigerian hyperinflation story that opened Zuby's eyes to bitcoin

- Why bitcoin ISN'T crypto - it's financial survival

- The "escape velocity" principle: $0-$100K vs $100K-$1M

- How AI will force you to become "ungovernable" or get left behind

- Why the status quo is now your enemy (not your friend)

📊 SHOCKING STATS DISCUSSED:

- Nigerian Naira: 1:1 with British Pound at independence → 2,000:1 today

- 40% of all USD created in 18 months (2020-2021)

- Top 5 companies laid off 100,000+ workers THIS WEEK

- Bitcoin took 16 years to reach $100K (next 10x will be faster)

🎯 ZUBY'S BITCOIN THESIS:

"Why would you choose money that works against you? Some random person can hit a button and drop your savings by 10%, 20%, 50%, 90%. Bitcoin is the only escape."

WHO IS ZUBY?

- Oxford Computer Science Graduate

- Independent Rapper with 1M+ followers

- Host of Real Talk with Zuby podcast

- Joe Rogan Experience guest

- Living proof that breaking from the status quo = freedom

FOLLOW ZUBY:

Twitter/X: @ZubyMusic

Podcast: Real Talk with Zuby

All platforms: Search "Zuby"ABOUT THIS EPISODE: Recorded October 30, 2025, this conversation captures a pivotal moment as mass layoffs accelerate and bitcoin crosses historic price levels. If you're under 40 and want financial freedom, this is required viewing.🔥 SUBSCRIBE for weekly bitcoin alpha and conversations with the sharpest minds in the space.

Book a consultation to learn about our multi-institution custody solution at onrampbitcoin.com.

#Bitcoin #Zuby #Layoffs #AI #Inflation #GenZ #Millennials #FinancialFreedom #Cryptocurrency #TechLayoffs #Economy

Connect with Onramp // Onramp Business // Onramp Institutional // Zuby on X

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 – Intro: Zuby’s Journey & Why Bitcoin

04:38 – First Touch: 2017 Run-Up

07:36 – Through Volatility to Conviction

10:37 – Global Lens: Inflation & Currency Risk

13:57 – Creativity, Communication, Building

16:39 – Pain, Lessons, Financial Clarity

19:51 – Status Quo & Change Aversion

23:01 – Why Bitcoin for the Next Gen

34:10 – Bitcoin vs. Traditional Assets

42:41 – Generational Openings & S-Curves

53:18 – AI, Automation, Jobs Ahead

01:02:42 – Escape Velocity: Zero to Wealth

01:07:07 – Outro & Disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

Connect with Onramp // Onramp Business // Onramp Institutional // Gustavo Flores on X // Aureo Bitcoin

The Last Trade: a weekly, bitcoin-native podcast covering the intersection of bitcoin, tech, & finance on a macro scale. Hosted by Jackson Mikalic, Michael Tanguma, & Brian Cubellis. Join us as we dive into what bitcoin means for how individuals & institutions save, invest, & propagate their purchasing power through time. It's not just another asset...in the digital age, it's The Last Trade that investors will ever need to make.

00:00 - Introduction & the debasement trade

05:22 - Liquidity conditions & bitcoin’s resilience

08:38 - Bitcoin cycles: halving vs liquidity

11:43 - U.S. debt explosion & nominal distortion

14:36 - Government signals & gold’s resurgence

17:34 - Shifting incentives & institutional positioning

19:44 - Global adoption: U.S., India, & Asia-Pacific

23:07 - Latin America’s adoption landscape

25:54 - Financial institutions & ETF-driven onboarding

29:00 - Bitcoin management: custody, risk, & MIC

37:18 - Security realities in Latin America

46:29 - Gold & bitcoin as sound money

01:03:34 - Market structure, stablecoins, & centralization

01:11:42 - Closing remarks, outro, & disclaimer

Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

~ BITCOIN FOR BUSINESSES EP. 3~

Connect with Onramp // Connect with Acropolis // Connect with Early Riders

Presented by Onramp Media in collaboration with Acropolis & Early Riders...

Bitcoin for Businesses is a bi-weekly podcast for operators. We turn headlines into a playbook, covering custody architecture, board approvals, accounting, financing, and real-world implementation.

00:00 - Introduction to Bitcoin for Businesses Podcast

01:24 - Square’s Integration of Bitcoin Payments

05:34 - The Future of Bitcoin in Business

13:11 - Inflation and the Gold-Bitcoin Relationship

19:08 - Counterparty Risk in Bitcoin Holdings

25:11 - Emerging Multinational Banks and Bitcoin

32:07 - Tax Considerations for Bitcoin-accepting Businesses

If you found this valuable, please subscribe to Onramp Media.