Podcast: Ray Dalio Changes his Mind on Bitcoin, Stock Buybacks Skyrocket, Everything is Money Illusion

Get your macro fix with Blockworks’ own Mike Ippolito and Mark Yusko.

article-image
share

In today’s episode of “On the Margin” Weekly Roundup with Mike Ippolito and Mark Yusko, the conversation starts off with Ray Dalio’s comments about Bitcoin, Gold and Ethereum. Spoiler alert – minds are being changed! Next they get into the increasing politicization of crypto, and the battle lines being drawn between the Dems and the GOP.

Mark and Mike get into breadth in the Nasdaq as a potential sign of worry (thanks Bear O’Shea for the flag!), record stock buybacks amidst insider selling, and finally the growing percentage of net income explained by the stock market.

This week’s episode on a philosophical question – is ALL growth just a result of money illusion? For the answer to that, you’ll have to listen in.

Watch the full episode below! 👇

“On the Margin” is a two-part show. Once a week, Mike interviews industry experts, and then at the end of the week, he is joined by co-host Mark Yusko where they break down the top crypto and macro stories. Episodes go live every Wednesday and Saturday morning.

Subscribe to “On the Margin” today on Apple or Spotify, or watch episodes on YouTube.


Get the day’s top crypto news and insights delivered to your inbox every evening. Subscribe to Blockworks’ free newsletter now.


Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Unlocked by Template (7).png

Research

Union’s improvements upon Tendermint consensus through CometBLS, coupled with ZK proving through Galois, allow for a broadly scalable, cost efficient, and low latency IBC implementation that is feasibly scalable across every existing blockchain, virtual machine and runtime. The implementation offers modular crosschain interoperability without the need for trusted intermediaries.  

article-image

Kraken’s chief security officer Nick Percoco said the exchange turned the tables on a North Korean hacker

article-image

Or is it approximately the least cypherpunk thing we could do?

article-image

Over 20% of SOL-USD swap volume goes through SolFi

article-image

CEO Vlad Tenev calls expected clarity on listing crypto asset securities “a big opportunity”

article-image

Big Tech pulled US indexes back into the green Thursday, as investors waited for two more Mag 7 first-quarter reports after the bell

article-image

Charts and takeaways from Tuesday’s jobs report and Wednesday’s GDP print, as the economy digests the tariff war