David Rosenthal: belief

Transcript context

…That's wild. That's how I wanted to go about. In this comparison that we often make in what would have happened otherwise, this is my Bitcoin to USD comparison. That might not be fair. I think as we move forward here, David, you have a little bit more context here than I do, the right comparison may actually be to gold, not to USD. At least at this point in Bitcoin’s development, it might be less about can I use it at retail opportunities and more about can I at least count on it being a good store of value? I mean that's the thing. We'll get into this and grading and how it's performed across different dimensions. But I think most people—certainly all the institutions that are coming into Bitcoin right now—are not thinking about it as versus USD. It's not an or, it's an and. This is a good store of value. I'm worried about inflation in USD and other relatively secure assets. Now, Bitcoin has tons of volatility, but it's got upside. It's not going to experience inflation, great. I’m going to view it like I view gold. By the way, did you know gold’s money supply increases? I think it's from finding new gold every year, but it’s 1.5%. It's literally from mining. They're adding to the gold money supply. Obviously, not at the whim and in such great volume as USD is. One thing that Bitcoin proponents would espouse is that already—even when we're only 11 years into this—the money supply increases by less per year than gold does.…

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