March 28, 2026

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Jack, always enjoy the pod. How do we reconcile what feels like a liquidity spell these past few months, with what is objectively an ATH in global M2? FWIW, tons of liquidity in the commercial banking space. Spreads extremely thin and all credits oversubscribed, it seems.

I get it. I like the idea of an analog hedge to Bitcoin risks. But every time I think about holding bullion, I’ve almost always bought more bitcoin. It’s not perfect, but it’s so much better than most alternatives. I do continue to think about building a gold stack, I just can’t get my head around securing it in a way that feels secure.

I don’t mean this in a snarky way. But isn’t “waiting on your money” via the USPS nuts? Subject to theft, govt seizure, etc. How would this not make you want to buy more Bitcoin