Bitcoin basics and more with Baird’s Michael Antonelli│Ep. 50

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This episode of the BizTimes MKE Podcast features Baird market strategist Michael Antonelli’s recent presentation to the Rotary Club of Milwaukee on Bitcoin. Antonelli offers a primer on the basics of Bitcoin and other cryptocurrencies, a review of some of Bitcoin’s strengths and weaknesses, the challenges financial services firms have with it and his view on why Bitcoin will not end up as a currency.

He also shares his own experience with Bitcoin, having spent $400 for two coins in 2012 only to have them stolen a year later. Those coins would have been worth more than $100,000 in February and nearly that in early March.

Antonelli cautioned though that Bitcoin does go through significant price swings.

“If you’re the kind of person … that gets nervous when the stock market goes down a few percent, this is the last thing you’d want to be in. This thing crashes all the time,” he said.

But he also encouraged program attendees to work to understand how Bitcoin works.

“You have to be open to unique takes on the world as it evolves,” Antonelli said.

Rotary Club of Milwaukee

In partnership with the Rotary Club of Milwaukee

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He spent also five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.