The information gap is your friend.
I think many people in bitcoin often take for granted the amount of information asymmetry they have. This is evident by the hoards of bitcoiners complaining online that the number isn't going up high or fast enough at any given point in time. While it is clear to us that the need for a neutral hard asset that is fine tuned for the digital age has never been higher, this information has only been distilled among a very small minority of the global population.
The amount of fundamental understanding one needs to understand why bitcoin is valuable in the first place is immense. Particularly at a time when most of the world has only lived under a hyper-financialized globally connected fiat standard. The status quo is thinking - unwittingly - that fiat money is the norm. Shoveling your excess cash into investment vehicles to outpace inflation is the norm. Governments and central banks tightly controlling monetary policy is the norm. All of these embedded misconceptions that come with the fiat monetary system need to be debunked, one at a time, in the minds of the individuals living within this system.
Those who have done the work to understand all of these things and recognize that bitcoin is the solution to many of the problems that stem from these embedded misconceptions maintain an information asymmetry that can only be arbitraged by more individuals, businesses and institutions coming to the same conclusion independently and at their own pace. Their paces can be accelerated, and likely will be, by outside forces - mainly the rapid acceleration of the debasement of their monetary systems, but it makes no sense getting frustrated that the outside world isn't keeping up pace. It should be viewed as a massive opportunity to take advantage of the arbitrage opportunity while it still exists.
Michael Howell's assessment of how governments will handle unsustainable debt burdens cuts through the political noise with bracing clarity. During our conversation, he identified currency devaluation as the most politically feasible solution to our global debt crisis. Rather than attempting direct debt restructuring—which would require explicit acknowledgment of insolvency—governments will likely pursue the time-honored tradition of debasing their currencies. The brilliance of this approach, as Howell explained, is that when all major economies devalue simultaneously, currency cross-rates remain relatively stable while debt burdens effectively shrink.
"If everyone devalues at the same pace, in other words, if the British pound, the US dollar, the euro, the yen... all devalue at the same pace, the paper money cross rates don't change particularly, but everybody inflates against gold." - Michael Howell
This coordinated devaluation creates a fascinating dynamic where private sector innovation is racing ahead of regulatory responses. Bitcoin and stablecoins represent the market's attempt to create alternatives to government-controlled currencies. What's particularly interesting is Howell's observation about current investor positioning—markets have rapidly shifted to extreme defensive allocations, with only 3.5% of occasions since 1978 showing more defensive positioning than today. This suggests we could see a significant bounce before any major crisis, creating opportunities for those who understand the longer-term devaluation playbook.
Check out the full podcast here for more on the changing collateral landscape, the Fed's liquidity projection through 2025, and historical parallels to Weimar Germany's wealth transfer.
China Dumps Bitcoin For Gold In Record Purchase - via X
AI to Replace Doctors and Teachers? Bill Gates Forecasts - via X
Ford Halts Vehicle Shipments to China Amid Tariff Hike - via X
Bible Verse Embedded in Bitcoin's 666,666th Block - via X
Looking for the perfect video to push the smartest person you know from zero to one on bitcoin? Bitcoin, Not Crypto is a three-part master class from Parker Lewis and Dhruv Bansal that cuts through the noise—covering why 21 million was the key technical simplification that made bitcoin possible, why blockchains don’t create decentralization, and why everything else will be built on bitcoin.
Ten31, the largest bitcoin-focused investor, has deployed $150M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.
Final thought...
While everyone is obsessed with creatine I'm front running collagen.
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