The Pomp Podcast
#464: Mitch Garber on Understanding Bitcoin
- Mitch's career path from gaming lawyer to payment processing entrepreneur, building Party Gaming and founding Caesars' digital subsidiary before acquiring Playtika for $100 million and selling it for $4.4 billion.
- The importance of long-term relationships and networks in business success, surrounding yourself with high-caliber operators like David Bonderman and Mark Rowan over a decade-plus.
- Structural barriers to Bitcoin adoption for high-net-worth individuals, including custody options, on-ramp accessibility, and the difference between legacy institutions (Fidelity, JP Morgan) and crypto-native platforms (Coinbase, Gemini, BlockFi).
- Bitcoin's programmatic supply schedule and deflationary design providing certainty and predictability compared to fiat currencies and equities.
- Bitcoin's narrative evolution from anonymous payments to store of value and the multi-layered adoption pattern of currencies (store of value first, then medium of exchange).
- Regulatory risk and the decentralized nature of Bitcoin as a structural advantage against government control compared to centralized tech platforms.