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#444 Raoul Pal on Bitcoin & The Macro Economy

The Pomp Podcast

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What Is the Bare Case for Bit Coin?

The more liquid a market, the less the volatility. The upside is so big right now because nobody's in it now. If bic coin goes up a hundred % in a month, which we've seen many times in the past, they end up selling 50% of their bitcoin. That's suddenly a massive supply change to the market. So maybe the structure of the market changes in a way that doesn't have the riska reward that we're all expecting,. We're all a bit backward looking.

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