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Cryptocurrency: A Hedging Against Mistakes
The word hedge comes up a lot, usually with Bitcoin. But I think now kind of a broader set of assets. And sometimes it is a chaos hedge. It is an inflation hedge. There are other applications in crypto. You buy this hedge and you get a free call option on all the other things you can do with decentralized platforms. That's a pretty nice trade. We shouldn't expect there to be true long-term value.