Why Pandl Calls Gold and Bitcoin Buys Here

Watch on YouTube ↗  |  June 19, 2026 at 01:52  |  7:22  |  Unchained (Chopping Block)
Speakers
Zach Pandl — Head of Research, Grayscale
Steven Ehrlich — Host, Bits + Bips: The Interview; Head of Research at Sharplink

Summary

Zach Pandl explains that the recent gold and Bitcoin dips were driven by speculative flows rotating out, not by fundamentals. He sees both as buys for longer-term investors because the deficit-and-debt thesis remains intact. He also highlights DeFi revenue tokens as a timely opportunity, pointing to Hyperliquid’s clear business model and Grayscale’s DCF-based price target on Aave.

  • Gold and Bitcoin see speculative washouts, not fundamental breakdown
  • Strong deficit-and-debt backdrop supports both assets long term
  • Zach Pandl calls gold and Bitcoin buys for longer-horizon investors
  • Regulatory clarity is unlocking revenue-focused crypto narratives
  • Hyperliquid is a proof-of-concept with revenue returned to token holders
  • Grayscale published a discounted cash flow price target on Aave
  • Diversified DeFi revenue baskets may be a good fit now
Ideas
Zach Pandl Head of Research, Grayscale 3:04
Speculative washout makes gold and Bitcoin buys
The recent gold and Bitcoin selloffs were driven by speculative retail flows rotating out of precious metals into hot areas like chips and pre-IPO trades, not by a deterioration in fundamentals. The underlying deficit-and-debt case for both assets remains strong, and the washout of momentum-chasing positions creates a buying opportunity for longer-horizon investors. Both gold and Bitcoin look good here as stores of value.
GLD BTC HIGH
Zach Pandl Head of Research, Grayscale 5:08
DeFi revenue tokens look attractive now
Crypto protocols with real revenue and regulatory clarity are becoming a major investment focus. Hyperliquid demonstrates a clear use case with revenue returned to token holders. Grayscale applied a discounted cash flow model to Aave and published a price target on the AAVE token. The revenue and regulatory story supports a diversified basket of DeFi assets as a good fit at current levels.
AAVE HYPE MED
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This Unchained (Chopping Block) video, published June 19, 2026, features Zach Pandl discussing GLD, BTC, AAVE, HYPE. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Zach Pandl  · Tickers: GLD, BTC, AAVE, HYPE