The Biggest Bitcoin Myths — And Why They're Dead Wrong | Chris Kline

**SPEAKER_1** (0:00)
Study and play. Come together on a Windows 11 PC. And for a limited time, college students get the best of both worlds. Get the Unreal College Deal, everything you need to study and play with select Windows 11 PCs. Eligible students get a year of Microsoft 365 Premium, and a year of Xbox Game Pass Ultimate with a custom color Xbox wireless controller. Learn more at windows.com/studentoffer.
Law Supplies Last ends June 30th. Terms at aka.ms slash college PC.

**SPEAKER_2** (0:30)
Ray-Ban Meta Glasses take the friction out of travel. Move through the world with your hands free and your head up.

**SPEAKER_1** (0:36)
Hey Meta, where's the nearest metro station? Closest metro to you is Union Square, about three blocks away.

**Chris Kline** (0:41)
Hey Meta, text mom, I'm getting on the train now. Sending message.

**SPEAKER_2** (0:44)
Juggle your itinerary, take calls, and listen to music with open ear audio. No digging for your phone, no stopping for a map, just you and your glasses. Ray-Ban Meta, iconic style meets Meta AI, available at Walmart and other authorized retailers.

**Chris Kline** (1:00)
There's a reality that this is a competition to the US dollar and big banking. And that's why you've got people like Senator Elizabeth Warren and others that are digging their heels in, that this is going to ruin the economy because it's a competitive nature to big banking. If they could have banned it, they would have banned it. And now we're in a place where they're, instead of fighting it, I think they're embracing it. Not just the US government's got its reserve, but other countries around the world are looking at reserves. And big banking corporations like BlackRock and others have added this to the balance sheet.

**Anthony Pompliano** (1:31)
All right, Chris, we're going to cover the three biggest myths about Bitcoin. The first one is it's too late to buy Bitcoin. It already ran up a bunch. There's no return left. What do you say to that?

**Chris Kline** (1:40)
I think that's kind of a silly concept when you're talking about something that has scarcity, unlike any other asset class that's out there. We're talking about trillion dollar IPOs right now. And you're worried that Bitcoin's not going to get to two or three, maybe even 10X where it's at today. What do you think?

**Anthony Pompliano** (1:56)
Well, I definitely think that the trillion dollar IPOs great point, but more importantly is not so much what is the solution, but what is the problem? The problem is government spending. It's undisciplined. They continue to print as much money as they possibly can. These people are like drunken sailors, both sides of the aisle do it. And so if the problem is going to persist, then of course the solution is only going to become more valuable over time. And if you look at Bitcoin's performance over the last decade or so, well guess what's happening?
The government was printing and printing and printing. And so if they're going to keep printing, then Bitcoin's going to keep going up. And I always loved the saying that Bitcoin's got no top because the dollar's got no bottom. And it seems like that's going to be the thing going forward.

**Chris Kline** (2:32)
Yeah, I totally agree with that. When you think about it in relativity to all the other assets out there, especially fiat currency today, there's no doubt to me that every, and you're right, both sides of the aisle are doing it. When there's a problem, they press print.
And that's what we're left with, is a more debased currency. I think they averaged it out like it's like 8% to 9% debasement per year now. And that's what they're reporting. I mean, you and I look at true inflation and things like that.
Nothing has changed as far as the prescription of problems out of DC. And nothing will change for quite a while. They back themselves into this corner, and there's no getting out of it. It's either play with rates or print money.

**Anthony Pompliano** (3:09)
I mean, it is pretty insane, but we have a solution. So now everyone can calm down. All right, myth number two.
Actually, somebody was just talking to me about this, not about retirement savings, but about Bitcoin's volatility. It's a little bit closer home to you guys. Bitcoin is too volatile for retirement savings. Yes or no?

**Chris Kline** (3:27)
I like to put the most volatile or risky assets in my retirement. Maybe call me crazy. My grandfather's probably rolling over in his grave because he knows all about index funds and those types of things. I saw some pieces from you recently. But to me, that's the longest horizon I have. I have 20, 30, 40 years before. I'll even touch this and it might be something that's generational wealth that I hand down to the next generation and they take the distributions out.