The Milk Road Show

Tether Co-Founder Warns of 75% Crash Despite Bullish Outlook

42 snips
Sep 23, 2025
Guest
William Quigley
In this discussion, William Quigley, co-founder of Tether and WAX, shares insights from his 40 years in investing. He argues that the Bitcoin cycle is broken, analyzing shifts post-April and their impact on market expectations. Quigley emphasizes the importance of exit strategies, advising investors to prepare for potential 75% drawdowns. He remains bullish despite historical patterns, critiques Digital Asset Treasury companies, and stresses that individualized investment strategies are essential. No specific token recommendations here, just hard-hitting advice!
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INSIGHT

Historic Bitcoin Pattern May Be Broken

  • William Quigley says the post-halving Bitcoin pattern broke in April and removed the historical roadmap for price action.
  • He warns nobody knows now whether the old multi-month rally will return or vanish in future cycles.
ADVICE

Always Define Entry And Exit Targets

  • Pick entry and exit prices before investing and stick to them or revise intentionally if fundamentals change.
  • Treat every investment like a trip with a destination and a reasonable exit plan to avoid amateur mistakes.
ADVICE

Size Positions For A 75% Drawdown

  • If you're overexposed to crypto, hold two years of cash runway so you won't be forced to sell in a deep drawdown.
  • Size crypto positions so a 75% drop won't force you into liquidation or ruin your financial plan.
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