Bitcoin And Gold Are Both LOSING In 2026 - Why?

About this episode

Peter Tchir, Head of Macro Strategy at Academy Securities, joins Mike McGlone of Bloomberg Intelligence and CoinRoutes co-founder Dave Weisberger to break down why Bitcoin and gold are the two worst-performing major assets of 2026, and what credit markets, the Fed and the AI spending boom mean for crypto. The panel starts with Fed week, the AI trade unwinding and midterm odds, then digs into widening credit spreads, debt-funded AI data centers and Fed liquidity. Mike makes his case that gold and Bitcoin have peaked and Treasuries are the place to hide, Dave and Peter push back on Bitcoin, gold, a Democratic sweep and deficit spending, and Peter closes on the risk from volatility-selling strategies. In this episode:00:00:00 Why Bitcoin and gold are 2026's worst performers00:00:35 Fed week, the AI unwind and midterm odds00:04:41 Peter Tchir on credit spreads and AI spending00:09:48 Dave Weisberger on AI data center debt and liquidity00:16:29 Mike McGlone on gold versus Treasuries00:20:02 Judy Shelton and the risk of monetizing gold00:23:08 Midterms, gridlock and the deficit debate00:39:23 Blackstone's BXDC and the Grayscale discount lesson00:46:28 Is the Bitcoin trade over? McGlone vs. Weisberger01:00:44 Peter Tchir on volatility-suppression strategies Peter Tchir on X: https://x.com/TFMktsAcademy Securities: https://www.academysecurities.comMike McGlone on X: https://x.com/mikemcglone11Dave Weisberger on X: https://x.com/dmweisbergerCoinRoutes: https://www.coinroutes.com Watch this episode on YouTube: https://www.youtube.com/watch?v=MSevP1qZ6OU If you enjoyed this episode, follow the show and leave a rating. It helps more than you know. Follow Scott Melker:Watch on YouTube: https://www.youtube.com/@ScottMelkerFollow Scott on X: https://x.com/scottmelkerThe Wolf Den newsletter: https://thewolfden.substack.comThe Daily Wolf on Yahoo Finance: https://finance.yahoo.com/videos/series/daily-wolf/ Learn more about your ad choices. Visit megaphone.fm/adchoices