Even though I still struggle to wrap my head around all aspects of what’s going on, what I find revolutionary is that he has effectively become a vampire—latching onto the bond market by leveraging fiat credit markets to extract liquidity and convert it into Bitcoin. He is alchemizing soft money into hard money by siphoning trillions of dollars from the bond market and transforming it into Bitcoin exposure. I still don’t believe he’s entirely immune to blowing up somehow, but the next few years will be very interesting to watch unfold.