Person
What Scott Melker is saying about markets, AI and crypto
Crypto trader and host of The Wolf Of All Streets, a daily livestream and interview show on bitcoin, crypto markets and macro.
Current take
Markets
NeutralPanel is cautious: credit spreads, stretched valuations, a hawkish Fed and election risk point to a possible drawdown, though Dave and Peter expect central banks to backstop credit.
medium conviction · months · as of today
More bearish than the Markets consensus
AI
BullishAI infrastructure and frontier labs have vast revenue headroom, the market still underprices them, and overbuild is a later-cycle risk.
high conviction · years · as of today
More bearish than the AI consensus
Crypto
BullishTokenization of equities, stablecoin yield and open public chains is expected to keep growing quickly, and Bitcoin is a better reserve asset than gold.
high conviction · years · as of today
In line with the Crypto consensus
Recent calls and claims
- Ripple's RLUSD is going to be listed on Coinbase as Coinbase adds other viable stablecoins.
“So our RL USD is going to be going on Coinbase.”
- The Fed will hold rates steady, and Warsh will give little information.
“I think it's 90% on prediction markets right now that he is going to hold”
- The UI of exchanges will not matter within six months because AI agents will become the interface to finance.
“the UI is not going to matter in six months”
- Perpetual futures will become standard for trading tokens and stocks, and crypto is becoming the plumbing of the financial system.
“we've basically become the plumbing and infrastructure for the entire financial system at this point”
- Mike expects the long bond yield to fall back below last year's close of 4.84% as gold and Bitcoin signal deflationary forces.
“the next trade is this yield on the long bond just drops back down below 4.84”
- Dave expects hyperscalers to keep buying compute, but a flush of weakly financed data-center companies leading to bankruptcies.
“I would expect to see the hyperscalers uh continue to buy compute because we just don't have enough compute.”
- Mike says his call that Bitcoin would lose a zero has been right so far and he sees no reason to rescind it.
“It's going to lose zero.”
- Peter warns that volatility-suppression strategies could unwind quickly and cause an ugly rapid downturn.
“if it breaks it gets really ugly very quickly”
- AI hacking will push cybersecurity budgets up, with marginal dollars flowing to frontier labs like OpenAI and Anthropic.
“I think that generally cybersecurity budgets probably go up”
- Agents will drive transaction volume and lower marginal transaction size, and will need digital assets to transact.
“agents are going to drive transaction volume and and lower the incremental kind of marginal transaction size”
Episode summaries
- Bitcoin's Biggest Buyers Have Gone QuietScott Melker interviews Coinbase's Brett Tejpaul on Coinbase's MiCA compliance, a Bitcoin-plus-UAE-real-estate treasury vehicle, and big banks adopting crypto infrastructure, arguing that tokenization, stablecoins and payments are converging into one disruption of finance. Melker then runs through news: Brazilian stablecoin flows, Bitcoin outperforming the S&P 500 lately, companies objecting to tokenized stocks, miners selling Bitcoin to fund AI data centers, and an expected Fed hold. He argues Bitcoin remains an uncorrelated asset that follows the four-year cycle.
- Bitcoin's Bear Market Is OVER - But Wall Street Is SplitThe panel argues Bitcoin likely bottomed in June and that fundamentals and infrastructure in crypto are strong even as price narratives and ETF interest look washed out. They discuss volatility as the new norm, repricing of commodities, the integration of crypto rails into traditional finance (tokenization, perps, Wall Street market makers), AI agents lowering the barrier to trading, and the remaining market-structure and security weaknesses in crypto.
- Bitcoin And Gold Are Both LOSING In 2026 - Why?The panel discusses why Bitcoin and gold are the worst-performing major assets of 2026, tying it to a hawkish Fed, rising bond yields, widening credit spreads from AI data-center debt, and midterm election risk. Mike argues risk assets, metals and crypto have peaked and urges hiding in Treasuries. Dave and Peter think the Fed will intervene if credit stress spreads, see gold as fairly priced, and defend Bitcoin on adoption and fundamentals. Peter flags AI infrastructure debt strain and cheap Chinese compute as key risks.
- Bitcoin Is Insurance Against Financial Chaos - ARK's Chief FuturistBrett Winton of ARK Invest argues Bitcoin is best seen as an insurance asset, a transportable digital gold, in a world of AI-driven hacking risk, while AI compute demand pulls capital away from non-yielding assets. He is strongly bullish on AI infrastructure and frontier labs, saying the market still doubts the returns and that overbuild will come but not now. He expects AI agents to drive crypto, stablecoin and prediction-market transaction volume, and sees a profound acceleration in economic growth.
- Bitcoin Could Swing 30% Either Way In The Next Two Months | Gracy ChenBitget CEO Gracy Chen walks through the Sept 24 hack (about $388M stolen via a zero-day in a third-party security product, covered by the company's protection fund so no user lost funds). She then gives a market view: crypto volumes are down post-10/10, Bitcoin is in a 'monkey market' that could move 30% either way, and she is optimistic on tokenization, AI trading tools and crypto/TradFi integration.
- Bitcoin's Biggest Advantage Is The One Wall Street Can't Buy | Saeed BadregSunrise CEO Saeed Badreg argues that US regulatory clarity (the GENIUS Act) and incumbents like JP Morgan moving onto Solana and Ethereum make Trump-era crypto policy a net positive for builders, and that tokenizing a roughly $160 trillion equities and real-world-asset market is the main driver of future crypto activity. He sees AI-accelerated news flow driving market volatility and expects AI winners to be massive while over-leveraged names like CoreWeave may fail. Melker's weekly recap covers JP Morgan's 10% Bitcoin projection, BlackRock ETF flows and products, Strategy's purchases, OCC GENIUS Act rules and a potential SpaceX-Tesla merger.
- Bitcoin Was Recovering. Then Wall Street's AI Problem Hit. | Carlos DomingoSecuritize CEO Carlos Domingo explains the state of tokenized stocks after the SEC's innovation exemption, arguing that compliant on-chain equities (via OKX/ICE and others) will spread to many venues and chains, and that regulatory durability depends on gaining traction over the next two years. He is bullish on stablecoin yield products, AI-agent and crypto convergence, and Bitcoin. Host Scott Melker closes by noting Bitcoin holding near $81k despite bearish global macro headlines and AI doubts.
- Bitcoin Went From $60K to $84K. Why Does It Feel Stuck?Scott Melker interviews Nicola White of Robinhood about crypto infrastructure and regulation. They cover the OCC's rule implementing the Genius Act, the SEC innovation exemption for tokenized stocks, stablecoin adoption, Robinhood Chain, perpetual futures and prediction markets. The tone is constructive: Melker says Bitcoin looks fine in context after moving from the 60s to the 80s, and White argues clearer rules are pulling activity back onshore.
- Bitcoin's Biggest ETF Just Took In $665 MILLION. So Who's Still Selling? | Alex ThornGalaxy's Alex Thorn and Arch Public's Andrew join Scott Melker to explain a record IBIT inflow day, arguing it mostly reflects conversion of spot Bitcoin into ETFs and TradFi wealth platforms pulling in assets. They argue Bitcoin has likely bottomed after the shallowest drawdown in cycle history, that macro stress hasn't hit Bitcoin because big macro traders aren't in yet, and that on-chain data shows old-coin distribution and weak treasury-company buying. Also covered: self-custody supply-chain attacks and multisig, and SEC tokenization exemption opt-outs.
- Bitcoin Fell Just 2% As AI Stocks Lost $1 TRILLION - What's Holding It Up? | Brent DonnellyA Macro Monday panel with Brent Donnelly, Dave and Mike discusses a volatile weekend that saw AI and chip stocks gap down before recovering, and what it means for markets, AI capex and Bitcoin. Donnelly frames the US economy as a 'one-legged stool' resting on AI capex and a faith-based wealth effect, while Mike argues rising yields, midterm risk and a weak Bitcoin chart point to a stock-led pullback. Dave sees Bitcoin as an option on adoption and expects AI selling to pause, and the group debates the Fed's role, the dollar and Bitcoin's brand after institutionalization.
- Crypto Is About To Change How You Buy Stocks Forever | Arjun SethiKraken/Payward co-CEO Arjun Sethi argues that crypto exchanges are becoming full financial platforms (exchange, broker, bank) on a single ledger, with tokenized stocks, 24/7 collateral and AI agents making institutional-grade tools available to ordinary people. He lays out a three-stage path for tokenized equities, from wrapped shares to issuer-sponsored to native on-chain issuance, and says Kraken will take companies public on-chain. He also calls Bitcoin the most important asset of his lifetime and treats quantum and self-custody risks as manageable problems.
- Bitcoin's $3 Billion Saylor Scare Is BackScott Melker interviews Franklin Templeton's Sandy Kaul on tokenization, tokenized money market funds, tokenized bank deposits versus stablecoins, and why crypto exposure will become standard in portfolios. They dismiss the MSCI index-exclusion risk for Strategy as a minor headline. The weekly news roundup covers hot PPI, Fed hike odds collapsing, a tokenized-stock liquidation event, self-custody worries, and Treasury yield pressure.
- "I'll Be Surprised If It's Not On My Gravestone" | Hunter BidenHunter Biden explains how his 'Laptop Token' meme coin was designed as a troll of the Trump family's coins, with a 30% team allocation, a prediction market and charity component. He says a chaotic launch, in which market makers seeded thin liquidity and the price spiked to a fictitious $317B market cap, hurt the token, and that Coinbase held back its listing after crypto Twitter backlash. He also argues Trump family crypto conflicts of interest stalled the Clarity Act and urges Democrats to engage with crypto.
- Bitcoin's Inflation Test Just Came In Hot - What's Next?Scott Melker interviews Saifedean Ammous after a hot CPI print. Ammous argues official inflation is understated by design, that US fiscal and bond-market stress points to continued dollar devaluation, and that Bitcoin is the winning hedge. He dismisses the quantum threat, says Bitcoin-specific hardware wallets are a risky honeypot (favoring disposable generic laptops and multisig), and is bullish on Bitcoin, Strategy and falling volatility, believing the bear market has bottomed.
Stance history
| Date | Markets | AI | Crypto |
|---|---|---|---|
| Oct 29, 2026 | Neutral | Bullish | Bullish |
| Oct 28, 2026 | Neutral | Bullish | Bullish |
What Scott Melker talks about
Scott Melker: quick answers
What does Scott Melker think about the stock market and the economy?
In their latest episode on it (Oct 28, 2026), Scott Melker was neutral with medium conviction: Panel is cautious: credit spreads, stretched valuations, a hawkish Fed and election risk point to a possible drawdown, though Dave and Peter expect central banks to backstop credit.
What does Scott Melker think about AI and the AI trade?
In their latest episode on it (Oct 28, 2026), Scott Melker was bullish with high conviction: AI infrastructure and frontier labs have vast revenue headroom, the market still underprices them, and overbuild is a later-cycle risk.
What does Scott Melker think about crypto?
In their latest episode on it (Oct 28, 2026), Scott Melker was bullish with high conviction: Tokenization of equities, stablecoin yield and open public chains is expected to keep growing quickly, and Bitcoin is a better reserve asset than gold.
Other voices
Read on Risk summarises what other people said in public videos and podcasts. Summaries are generated by AI and checked by code against the transcript, but can still be wrong; follow the source links before relying on anything. This is not investment advice and nothing here is a recommendation to buy or sell. Disclaimer ·How this works