What Bitcoin Did
What Bitcoin Did
Danny Knowles
The Bitcoin Bear Market Is a Survival Test | Matt Odell
1 hour 57 minutes Posted Jul 25, 2026 at 5:14 pm.
Bitcoin fundamentals and market outlook
Jack Mallers and the XXi transition
Orange tie crew and public companies
Blockware mining and treasury companies
Self-custody and Bitcoin as money
Nostr social media protocol and AI
AI models, freedom, and geopolitics
Agentic payments and Bitcoin future
Jurisdictional mobility and future
Citadel Wire and project updates
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Show notes

“Bear markets are actually more about survival.”

Matt Odell is back on the show to explain why Bitcoin bear markets grind people down, why the fundamentals have not changed, and why he has never been more bullish on Bitcoin.

In this episode, we discuss Jack Mallers stepping down from XXI, the risks of Bitcoin treasury companies, and why profitable businesses should save in Bitcoin rather than make financial engineering the product.

We also get into Nostr’s failure to replace X, the continued need for open identity and private communications, and how open-source AI could make Bitcoin easier to use. Matt explains why AI agents will need permissionless money, why Lightning matters for privacy, and why strong families and local communities will become more important in an increasingly centralised world.

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