The Last Trade E074: Reunderwriting America with David Thayer

David Thayer, executive advisor at Blackstone and longtime Bitcoin advocate, joins OnRamp at Bitcoin all-time highs to discuss the confluence of political, fiscal, and monetary forces driving Bitcoin's ascent. Thayer shares his experience at the historic Trump visit to Pubkey bar in September 2024, where the former and soon-to-be president completed Bitcoin's first presidential transaction. The episode examines how a Trump administration's approach to fiscal policy—while constrained by structural spending on entitlements and interest—creates an environment where monetary debasement remains the path of least resistance, further strengthening Bitcoin's value proposition. The panel discusses Bitcoin's journey from the ninth to eighth largest global asset during the week of recording, surpassing silver, and what this trajectory means for long-term holders and institutional allocators.