The Jack Mallers Show Bitcoin And The Missing Volatility
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Dec 23, 2025 Jack Mallers dives into the calmness of Bitcoin amid rising social volatility. He discusses how volatility is a natural market force that's suppressed, revealing tensions in our fiat-driven economy. The clash between AI technologies and inflationary systems is examined, alongside the housing affordability crisis exemplifying fiat failings. Mallers predicts Bitcoin's value could soar regardless of monetary outcomes. He also highlights societal distress manifesting in troubling ways, urging listeners to consider a future where Bitcoin emerges as a crucial asset.
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Suppressed Market Volatility Is Displaced
- Jack Mallers argues markets look calm because policymakers suppress natural volatility, but that volatility is only displaced, not eliminated.
- He compares central planners mowing the lawn to force order and warns suppressed volatility resurfaces elsewhere in society.
Deflationary Tech Versus Inflationary Fiat
- Jack Mallers explains technology, especially AI, is strongly deflationary while the fiat system is inherently inflationary, creating systemic stress.
- He warns that deflation threatens indebted sovereigns and forces governments to respond by debasing currency or printing money.
On-Chain Selling Signals Liquidity Stress
- Mallers shows realized-supply data: older coins are selling and sizeable realized losses indicate liquidity stress despite Bitcoin's flat price.
- He interprets this as people tapping Bitcoin to meet debt and business obligations during a tightening liquidity cycle.