We went live from the Bitcoin 2025 Conference in Las Vegas, and if you caught the show—awesome. If you missed it, here’s the full rundown of everything we covered, from Hive Mining’s bold predictions to Ripple’s Circle acquisition attempt, and some hot takes on XRP, Ethereum, and quantum computing.
Live Vibes from Vegas
Kyle joined in live from the Venetian in Vegas, where he’s covering the Bitcoin 2025 conference for Daily Crypto News. He described the overall mood as “extremely bullish,” better than last year’s Nashville event. Hive Mining’s president told him they’re expecting Bitcoin to hit $160K by the end of the summer, aligning with patterns we’ve seen in past cycles.
Hive Mining's Game Plan
Hive Mining operates entirely outside the U.S., focusing on Sweden, Montreal, and Paraguay. The Paraguay operation is powered by the largest hydroelectric dam in the Western Hemisphere, located near Iguazu Falls, a monster waterfall that outputs more water per hour than Niagara Falls does in a full day. Their goal: mine up to 10 BTC a day and build back their holdings to over 20,000 BTC, with a buyback target of $85K per coin.
Bitcoin Price Targets & Cycle Math
I (Matt) broke down the pattern: each cycle tends to have diminishing returns due to growing market cap. We’re not going to get a 20X again, and probably not even 3.5X like last cycle. A 2X–2.5X from the last all-time high of $69K puts us between $140K–$180K, and anything beyond that is just parabolic.
Mining as a Business
We reiterated the basics: mining is a math problem. It’s not about passion—it’s about electricity cost vs. Bitcoin output. If the numbers don’t work, miners shut down. That’s when you know we’re at the bottom of a bear market—when even the big guys are turning off the rigs.
Kyle also noted that Hive is pulling in $20M per employee annually. That’s insane. But it only works because they’ve built on cheap, renewable energy.
What’s FV Bank Doing?
Kyle sat down with Miles, CEO of FV Bank, who’s been deep in fintech since the '90s. He got a cease and desist letter from the U.S. government in the early days for stablecoin payments—so he started a bank.
FV Bank lets you send in stablecoins and receive fiat like euros.
Miles believes that crypto companies will acquire TradFi, not the other way around.
He’s bullish on borrowing against Bitcoin becoming a dominant financial product.
Their long-term bet: crypto has the cash, banks don’t.
Skepticism on Regulatory Excuses
We’re both getting tired of the “we need regulations before we build in the U.S.” line. Plenty of companies failed because they mismanaged funds—not because they lacked guidance. Run a good business, and you’ll survive.
Is Ethereum’s PoS a Mistake?
Kyle asked Hive’s CEO straight up: is Ethereum’s switch to proof of stake a mistake? The Hive team thinks so. They argue that proof of work drives innovation in sustainable energy, while proof of stake doesn’t incentivize new energy solutions. Hive uses 100% renewable energy and sees that as a major competitive advantage.
Quantum Mining? Not Yet.
Shout out to our listener Tuen, who asked a great question about quantum computing and Bitcoin mining. Hive’s CEO wasn’t worried. Quantum would need specialized hardware and economic incentives to be a threat.
But here’s where I weigh in: we’ve got nation-states and big tech companies already stockpiling encrypted data for "harvest now, hack later". The threat is real, and Bitcoin needs to be quantum resistant sooner rather than later. Don’t wait until it’s too late.
Kyle’s Quick Takes on Ethereum & Ripple
Ethereum? It’s not going anywhere. FV Bank says it's going to be like Microsoft—ubiquitous, maybe even boring.
Ripple? No product-market fit. They tried to buy Circle for a laughable $5B. If you’re JP Morgan, why partner with Ripple when you can build your own stablecoin and rails? Exactly.
And Finally… XRP Army, Calm Down
One listener asked: XRP is doing so much, why isn’t the price going anywhere?
Reality check: XRP is up 336% year-to-date. That’s massive. If your coin triples in a year and you’re still complaining, you need to re-evaluate your expectations. This entitlement mindset is toxic. Take profits. It’s okay. That’s the game.
My Take
This was one of the best lives we’ve done in a while. Kyle brought real insight from the ground in Vegas, and we tackled hard questions—regulations, Ripple, mining margins, and quantum threats. The vibe at the conference is bullish, but we’re not afraid to call out the BS and hype.
If you’re in crypto, remember: it’s about building, not betting. And if your coin tripled this year, enjoy it. Don’t cry about not getting a 10X. The people who make it here are the ones who stay grounded, not greedy.
Happy HODLing, Everyone.
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