Why Bitcoin Volatility Is the BULL Case | Jeff Park & Matt Cole

The Pomp Podcast

Anthony Pompliano

Investing, Business

4.6 • 2K Ratings

🗓️ 25 February 2026

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Matt Cole is the CEO of Strive Asset Management, and Jeff Park is a Partner & Chief Investment Officer at ProCap Financial. This conversation was recorded live at Bitcoin Investor Week in New York. In this conversation, we break down why bitcoin’s volatility doesn’t change the long-term story, how institutions think about drawdowns, and what today’s Fed policy could mean for bitcoin and other risk assets. We also touch on digital credit, bitcoin-backed yield, and why volatility may actually be one of bitcoin’s biggest advantages for long-term investors.

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0:00 - Intro
0:15 - Bitcoin volatility & Kevin Warsh impact
4:19 - QE, deflation, & monetary regime change
12:09 - The rise of digital credit & why bear markets build institutional track records
18:39 - Bitcoin treasury strategies & yield generation

Transcript

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0:30.0	When you zoom out and you look at Bitcoin from any four-year period, nothing has changed.
0:34.5	But deep down, like we all know the current system's not on a good path, and we have to start like ripping the band-aid a little bit. I think all of that points towards a pretty positive, healthy move for Bitcoin in the future. What's going on with Bitcoin, guys? This is, there's a lot of people in the show. I've been talking to people for the last couple of days. Everyone knows that Bitcoin long term is going to do well.
0:55.3	But Bitcoin is not supposed to feel like this in the short term. So what's your guys take as to what's going on? First. Oh, come on. You two aren't going to fight. I've got an opinion. Let's go. First of, I loved Jeff's recent article about Bitcoin Row. And so that's why I was saying, well, you just wrote a great
1:12.7	article on that. And I kind of think about the world the same way. And so first off, when you
1:19.2	zoom out and you look at Bitcoin from any four-year period, nothing has changed. We are in the
1:24.5	business of underwriting volatility. And so what I mean by that is, I don't know about you guys.
1:30.0	I didn't predict that Bitcoin was going to be where it is today.
1:33.3	But I did expect 50% drawdowns still as a regular occurrence in the forward-looking view of what we expected Bitcoin to do.
1:43.4	And in our company view, and this is kind of coming from a pension background,
1:48.0	is if I can underwrite time and direction, then I don't have to forecast an individual quarter,
1:54.0	an individual year.
1:56.0	And so my thing is, it has the fundamentals changed?
2:00.0	Is the US still taking out debt at an unsustainable rate?
2:04.6	I think the answer is yes.
2:07.1	I don't know if you have a view that the debt crisis will be solved in the near future.
2:12.5	I think it's going to be worse.
2:14.1	I think it's going to be worse, right?
	...

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