Larry McDonald

And you've had these families that you go in and want to risk off regime.

One family has a liquidity problem.

They need to sell a lot of Bitcoin in a short period of time.

And that's what causes these.

And then selling begets selling.

It's like a contagion risk.

Now, if the market, this is like gold, like 75, 100 years ago.

as the market matures and broadens out, those drawdowns should get less significant.

So if you think about the 370% drawdowns for Bitcoin,

in the last seven years.

Gold's biggest drawdown in the last 10 years is about 22%.

Maybe we just crossed that again in the last week.

But gold's still a much better store of value because it's something that you can put several million dollars into and you're not going to get those 70% drawdowns.

But I think going forward, Bitcoin's going to be far less volatile and you want to have a combination of gold, platinum, palladium, silver, and Bitcoin.

Today's episode is brought to you by Figure.

I mean, we talk about this in the book where

The last 10 years Republicans and Democrats have taken a billy club and hit many different countries over the head now the Russia example is a good one because Russia Ukraine tragedy Russia deserved a very strong response the problem is is

When you use your muscle, and this is what I call Washington hubris, Republicans and Democrats.

Hubris is one of my favorite words because the Lehman management team, our first book was about Lehman.

It was a New York Times bestseller.