# Bits + Bips: How the Dimon vs. Armstrong Clash Reveals Crypto at Peak Political Power

Page: https://stenobird.com/podcast/unchained-728975/bits-bips-how-the-dimon-vs-armstrong-clash-reveals-crypto-at-peak-political-power
Text version: https://stenobird.com/podcast/unchained-728975/bits-bips-how-the-dimon-vs-armstrong-clash-reveals-crypto-at-peak-political-power.md
Podcast: [Unchained](https://stenobird.com/podcast/unchained-728975)
Published: 2026-06-01T18:24:00+00:00
Episode link: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML2560822072.mp3
Audio file: https://pdrl.fm/98e0b1/traffic.megaphone.fm/LSHML2560822072.mp3
Processing state: not_requested
JSON: https://stenobird.com/v1/public/podcasts/unchained-728975/episodes/bits-bips-how-the-dimon-vs-armstrong-clash-reveals-crypto-at-peak-political-power
Duration seconds: 3627

## Resource

Strategy sold BTC. Can its preferred dividend stack survive without Bitcoin growing at least 11.5% year? Plus, they cover Jamie Dimon calling Brian Armstrong “full of shit.” --- Heads up! If you haven’t yet, be sure to subscribe to Bits + Bips, since the show will migrate there in a few weeks. Follow us on ⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠YouTube⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠Spotify⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠X⁠⁠⁠⁠⁠⁠⁠⁠, ⁠⁠⁠⁠⁠⁠⁠⁠Unchained⁠⁠⁠⁠⁠⁠⁠⁠ and wherever you get your podcasts. ---- Strategy sold Bitcoin for the first time since 2022 — 32 BTC to cover preferred stock dividends. Ram, Austin, and Chris discuss whether that small sale signals a deeper structural tension between equity holders, preferred holders, and Bitcoin itself. They also covered the news that Anthropic filed for an IPO at a valuation approaching $1 trillion. The hosts lay out the bull and bear cases and ask whether retail investors can realistically get a 10x out of a company already priced like a finished product. Unpacking a spicier moment, they also discussed the moment when JPMorgan’s Jamie Dimon called Coinbase’s Brian Armstrong “full of shit” on live TV over the Clarity Act. Ram says crypto's window of peak political power is closing fast, while Austin gives crypto lobbyists a great idea for how to turn the banks’ stablecoin yield crusade against them. Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Austin Campbell — Founder, Zero Knowledge Consulting; Adjunct Professor, NYU Stern ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ram Ahluwalia⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Co-Host, CEO of Lumida ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Chris Perkins⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Co-Host, CEO of 250 Digital Asset Management Timestamps 🚀 00:00 Introduction 📣 00:12 Subscribe to Bits + Bips' new dedicated feeds at https://linktr.ee/bitsandbips 🤖 01:27 The bull and bear cases for Anthropic’s nearly $1T IPO filing 📉 09:4…

## Actions

- request_transcript: `POST https://stenobird.com/v1/public/podcasts/unchained-728975/episodes/bits-bips-how-the-dimon-vs-armstrong-clash-reveals-crypto-at-peak-political-power/transcription-requests` — Idempotently request low-priority transcript generation for this episode.
- read_markdown: `GET https://stenobird.com/podcast/unchained-728975/bits-bips-how-the-dimon-vs-armstrong-clash-reveals-crypto-at-peak-political-power.md` — Read the agent-friendly Markdown representation of this episode resource.

A page view does not enqueue transcription. Agents should invoke `request_transcript` explicitly when they need this episode processed.

## Transcript

Full transcripts are not published on public pages unless there is a clear rights basis.