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What Bitcoin Did

2025: BITCOIN IN REVIEW | HODL & ODELL

By Danny Knowles

Aired Jan 2, 2026 · 1h 29m · Last boosted Jan 8, 2026

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Show Notes

American HODL & Matt Odell join the show for a review of a year that left most Bitcoin narratives exposed. We unpack why expectations ran ahead of reality, why the super cycle never materialised, and how ETFs, treasury companies, and institutional capital quietly changed how this market actually operates. We get into Bitcoin’s underperformance versus gold and equities, the absence of meaningful retail demand, and how leverage distorted outcomes rather than driving real adoption. We discuss what this means long term. From institutional involvement and shifting power structures, to the breakdown of the four year cycle framework. We...

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