Anthony Pompliano

We had Russia, Ukraine.

We had the constant threat from Iran and China.

All of those things were driving instability.

When you have instability, people wanted to go and buy an insurance policy against the instability, and Bitcoin was the chosen asset in that case.

Now, what's interesting to me is the central banks, their chosen asset is gold.

Central banks have a lot of money and they're helping to drive the price of gold.

But it seems like there is not as much of a bid for Bitcoin coming as this kind of insurance hedge.

And I don't think it's because Bitcoin now doesn't serve as the insurance hedge.

I just think that there's a lot more people in the world who see stability rather than instability.

They are looking and they are saying, wait, the wars are either winding down or being ended.

They see dictators like Maduro, et cetera, being taken out of power.

They see the constant threat

being checked by countries like Iran.

And we know that China obviously is now being kind of distracted with an entire internal review of their military and leaks and spies and all this kind of issue.

And so when you see this, I think there's people who just say, wait a second, if the United States is going to take a leadership role in the global stage, if they are going to try to govern in terms of being peace through strength, then maybe there's going to be more stability.

More stability means I don't need the insurance policy as much.

Again, I don't know how much of the inflows or capital flows are actually affected by that, but I do think that that is part of the narrative.

The second thing that I think is happening is Bitcoin really started to become an inflation hedge.

Obviously, if you go back in 2020, when the government decided they were gonna print trillions of dollars, not only were all the Bitcoiners yelling and screaming on the internet about inflation,

But you also saw people like Paul Tudor Jones and Stanley Druckenmiller.