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I don't get Nic's argument. The dollar is broken, but we shouldn't do anything to shake the confidence of the USD? Like, bro are you watching the debt on the dollar and the counterparty risk for associated holders? Are we supposed to pretend nobody notices this? The record buying of gold reserves from other countries? Last time i checked nobody was buying pallets of USD to preserve their purchasing power.

It's hard to see Nic sit on TV and make an argument against a SBR for the US. Sounds like he's short bitcoin.

https://x.com/BloombergTV/status/1869133367611965454

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Discussion

WhiteRabbit 1y ago

Note, i have a lot of respect for the research Nic has done so i'm not shitting on his overall body of work i just truly don't get his position here and seems like cope.

⚡₿it₿y₿it⚡ 1y ago

Nic's a Fiat spook 💀

Tim Bouma 1y ago

It's a line he won't cross while having any corporate capacity or fiduciary responsibility.

Mulecolt 1y ago

Most of Castle Island’s portfolio companies would benefit much more from “crypto” regulation as it’s mostly DeFi and stables. I don’t believe he’s a patriot worried about the reputation of the dollar. It’s more likely he prefers to promote the dollar via stable coins and DeFi as it would be far more lucrative for him. He’s probably also worried about a “bitcoin not crypto” attitude as regulations are formed.

B.O.P 1y ago

Nic has been wrong about almost every trend over the last 4 years and typically acts in self interest to promote these bad ideas. I didn’t even watch the video because he isn’t a bitcoiner and rarely has anything of value to add

TBH 1y ago

Interesting X embed in NOSTR. As for content… oh Nic. Oh Nic, Nic, Nic.

Geektoshi 1y ago

One of his main investments is a stablecoin with similar ponzenomics as USDC so it’s no surprise that this is his take.

BitLo 1y ago

Look guys, his star is rising. 😂