The Acid Capitalist @hendry_hugh has returned from his spelunking sojourns with sooths from our future. Hark! “The performance of digital currency, bitcoin, et al. has very much impressed me on this severe test for risk assets… it’s been tough out there… the performance of Bitcoin from $110k to $74k, it’s changing. It’s really changing. And I want to say, implicit in everything the U.S. is doing to reject the dollar as a public good and to put a price around it, part of it is an embrace of [it]. Bitcoin is pro-public, pro-USG policy. And if you want to be long a risk asset, you bloody damn better be long the asset that the government likes. And they really like the Bitcoin. It’s just performed really really well in a risk-off episode. I’m even thinking of selling this house… for $30-$35M… I wanna get $10M into Bitcoin… This is your last chance. It’s gonna trade closer to a million. It’s going to trade at a capitalization greater to gold. And when it trades at a million bucks Bitcoin is boring, it’s gold. But it’s not. I am that excited about the optionality that I may even consider selling my St. Barts house.” “I like to buy bitcoin when it’s cheaper versus gold because it’s in a mean reverting very positive trend versus gold and that trend has a chance of just lifting like an S-curve and going exponential. It has to go very quick, because not everyone can become as rich as I’m going to become.” “For me, I think 15 years or so it’s passed enough tests of precedence to suggest it’s gold, I’d much rather buy Bitcoin than gold, and I’d much rather do so because I’m greedy and I think that the difference between the two are so slight that I think owing to the ease of ownership of Bitcoin and all of the utility that I think Bitcoin has to trade at the same capitalization of gold. Which is to say I cannot conceive of gold trading 10x higher, which would $200T. Almost ten times the size of the American economy… I cannot conceive of that. But I CAN conceive of Bitcoin trading at $1M, which is to say 10 times higher, that it doesn’t change the fabric, the internal equilibrium of the universe if that happens. So the probability of it happening is much greater. So that’s my portfolio.”