Bitcoin’s volatility is falling, and Saifedean Ammous calls that the most bullish development in Bitcoin right now. Bear-market drawdowns have shrunk from roughly 87% to 77% to about 54% this cycle, which moves Bitcoin closer to an investable asset for money managers. Saifedean explains why the halving still drives the four-year Bitcoin cycle and why fewer people are buying with leverage at the top. He also discusses how markets may eventually arbitrage these cycles away.

Chapters:0:00 Tether, Bitcoin & the Dollar Milkshake Theory1:45 How the US Carries $40 Trillion in Debt as the World’s Reserve Currency4:21 Treasury Yields Hit Multi-Decade Highs & the Bond Market Bear…

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