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no you don't want it to be nonvolatile here's what you want you want it to be extremely volatile because that way you know something nobody else knows I give you 21 years and you can go start a company borrow money raise Capital start a hedge fund create a Bitcoin business tell your friends start a podcast build a life for yourself get leverage more at your house change the view of your bank I'm giving you the ability to do work it's a it's a lever it's a 21-year lever okay like micro strategy's been working four years if Bitcoin had gone from 10,000 to 65,000 on August 11th on the day we announced our Bitcoin Buy on August 10th we wouldn't be worth 40 billion right now we would be worth 4 billion right now you see so you want the delever you want the time and the second thing you want is you want massive volatility because you know like for example when Bitcoin went from 66,000 to 16,000 everybody else you know had a crap Lost Their Minds freaked out and we double down right and it was a benefit for us it was a problem for everybody body else we ripped up and and so you get the chance to prove yourself economically and you get a chance to prove yourself intellectually and you get a chance to prove yourself morally and ethically if you live through the volatility you should pray for the volatility when it goes away you'll lose your advantage and you should you should be happy that you know where everybody else on the planet going to be in 21 years you got a 21 year Head Start that's a career you can make a life out of that and don't worry about the stuff that comes in the middle it's a good thing once bitcoin's at 13 million a coin there will be no more volatility no when Bitcoin is 13 million a coin uh if you look at my base case Bitcoin is like 20 30% of the equity market and so it's just big enough that the volatility is decreasing but but my model in my mind and what we're thinking is if the money supply expands at 7% the the the equity index will span about 10% the volatility of the S&P index will be about 10 to 12 the volatility of Bitcoin will be 20 to 22 it'll always be more volatile the performance will be 20 to 22 ARR it'll always be higher performance always be more volatile because it's an open uh unregulated Global Market because it doesn't have the counterparty risks and it strips away the risk of a company and it strips away the entropic uh the entropic degradation of physical property it's always going to be better it's always going to be more volatile and I'm not concerned about about it that's why even when bitcoin's 13 million you'd be stupid to sell your Bitcoin and buy the other stuff it's all the other stuff's always going to be inferior and I I didn't answer your last question which is you know keyman risk you know what if I go away you know and I thought about it and I you know and and what I would just say is uh first of all I don't have any errors a nonprofit Foundation which all am Morphin being a public charity so when I'm gone my stock my shares my assets flow into a public charity whose mission is to support Bitcoin and the adoption of Bitcoin forever and so you don't have to worry about micro strategy changing direction you don't have to worry about you know the truth is I'm probably better for a Bitcoin gone than here you know dead than alive as long as you're if you're dead you can't you know you can't what was the word murder was it slave
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