TCB Short - Is Bitcoin a Bubble?

Today we answer the question: Is Bitcoin a Bubble? TCB argues that Bitcoin is often labeled a bubble, but true bubbles don’t solve problems and, after collapsing, don’t recover (as with 1637 tulip mania). While Bitcoin is highly volatile and has repeated 70–80% drawdowns, it has historically rebounded to higher lows and driven stronger infrastructure, suggesting price discovery rather than a permanent collapse. The speaker claims the deeper “bubble” is the fiat monetary system, which is stru...