A great discussion on “why Bitcoin?” and the real risks of our banking system.
Bitcoin is a short credit position, “meaning when you own bitcoin, you have a short position on sovereign debt,” says Greg Foss, Executive Director of Validus Power Corp. “In my thirty years, Bitcoin is the best asymmetric trade opportunity and investment opportunity I have ever seen,” he tells our Daniela Cambone. Fiat currencies are programmed to debase, and the federal reserve is facing a crisis in confidence, Foss believes. “The U.S. dollar will be the last fiat currency to fail,” he says. Foss concludes that if you own zero bitcoin, “you are taking immense risk that you are wrong, which is a more risky position than owning between five and ten percent of your net worth in Bitcoin.”