In this episode of the Crypto 101 Podcast, Spencer Applebaum, General Partner & Co-Head of Venture at Multicoin Capital, joins from the Out East Summit to explain how Multicoin approaches crypto investing across liquid tokens, venture, and crypto-related equities. He breaks down why the firm remains fully focused on crypto while many peers chase AI and robotics.

The episode also explores how improving U.S. regulation, rising institutional participation, and expanding blockchain adoption could fuel the next crypto bull market. Applebaum highlights key portfolio holdings, discusses token-versus-equity investing, and explains why long-term conviction remains essential as digital assets continue to mature.

Chapters

• 00:00 – Intro
• 01:25 – Multicoin Capital’s crypto-only investment thesis
• 03:00 – Why public research helped Multicoin grow
• 05:30 – Liquid hedge fund vs venture investing strategy
• 07:10 – Tokens vs equity in crypto projects
• 09:40 – Clarity Act, CFTC, SEC, and regulatory momentum
• 12:40 – How Multicoin thinks about long-term crypto investing
• 14:00 – Hyperliquid, Solana, Robinhood, and Zcash positions
• 17:10 – Why Apollo buying Morpho matters
• 20:45 – Digital asset treasury companies and MicroStrategy
• 22:40 – What could restart the crypto bull market

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Music Credit: “Fog” by DIZARO— Creative Commons CC BY-N D 3.0 Free Download/Stream| Promoted by Audio Library

Disclaimer: This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always do your own research before investing.