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🗓️ 3 December 2025
⏱️ 48 minutes
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| 0:30.5 | Welcome back to part two of this incredible conversation. Without further ado, here we go. |
| 0:36.1 | There's a reason, very open to what that is, |
| 0:39.1 | but there's a reason that gold functions the way that it does, which is in times of inflation, |
| 0:46.9 | people are going to flee to gold in times of government uncertainty, whether they'll |
| 0:52.1 | pay back their debts, people are going to flee to gold. |
| 0:54.7 | They don't expect a big return. |
| 0:56.2 | They just expect safety. |
| 0:58.0 | Bitcoin does not function like that yet. |
| 1:01.1 | Maybe it will one day or maybe it's something that people think of in a totally different way. |
| 1:06.4 | And I'm just like, I have a take. |
| 1:07.7 | I think I know why it is, but I could be wrong. |
| 1:09.8 | And so I'm just curious what you think the answer is. So far, it sounds like you're saying it's just new. |
| 1:15.7 | And so as it grows, it will probably function more like gold in that its volatility will go down |
| 1:22.5 | because it's just raw size will go up. But I was just curious if you think that people mentally map it differently now, if they |
| 1:31.8 | see it as a sexy thing that is sexy precisely because it's high volatility. |
| 1:38.3 | And so they want in, they're going to ride that volatility, they're going to day trade against |
| 1:41.9 | it, they're going to do all the fun things that |
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