The Importance of Volatility in Bitcoin Adoption

The first 14 years have been riddled with extreme volatility that is unprecedented in many markets, consistent volatility over cycles. If Bitcoin adoption is going to go up by 10x, that means that nine out of every 10 people who now own Bitcoin are pricing it for the first time. "If I can accept that the first time somebody's pricing a good, they're inherently going to be operating with less information than from that point forward," he says.