The Wolf Of All Streets Bitcoins Volatility Bubble Just Popped! Caitlin Long Explains The New Paradigm
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Oct 5, 2025 
Caitlin Long, CEO of Custodia Bank and a pioneer in digital-asset policy, dives into the transformative impact of corporate Bitcoin treasury strategies on volatility and institutional investment. She explains why long-term holders are cashing out, and the potential of tokenization and stablecoins to revolutionize global finance. Caitlin also discusses ongoing regulatory battles like Operation Chokepoint 2.0 and her vision for linking traditional finance with decentralized finance through tokenized bank deposits.
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Long-Term Holders Are Cashing Out
- Bitcoin's recent selling is largely long-term holders taking profits after years of concentration.
- Caitlin Long says this handoff is normal and not a fundamental change to Bitcoin's value.
The Bubble Was In Volatility
- Wall Street 'Bitcoin treasury' strategies compressed Bitcoin volatility by many players pursuing the same trades.
- Long argues the bubble was in volatility, not price, and that vol was crushed by financial engineering.
Differentiate Treasury Types Before Investing
- Distinguish true corporate treasuries from hedge-fund-style treasury plays when evaluating firms.
- Look for companies using operating cash flow to hold crypto rather than leverage-driven volatility plays.