Most of the capital invested in Bitcoin today seems to be capital that people can afford to lose. That is not because people are wise, or because the regulators have been very effective or that the industry has been prudent. The only reason why most people today do not have an amount of Bitcoin they cannot afford to lose is because of Bitcoin’s price volatility. Ironically Bitcoin’s price volatility is the best insurance against Bitcoin’s biggest risk. If Bitcoin ever begins to be perceived as a safe asset before it has matured and people begin to allocate capital they cannot afford to lose we should be concerned. This happens to some degree during every Bitcoin price rally but, fortunately, so far each rally has corrected without destroying Bitcoin, but one day that could not be the case.