Gurley argues Bitcoin serves countries with overinflating currencies and low trust in government money.
“And so if you live in one of those countries where you don't trust the currency of your own government, you know, how do you wanna get paid?”
Gurley quotes Druckenmiller saying cheap money drives speculation like oilmen drilling with others' capital.
“Drucker Miller just, you know, who's someone that's made a name in macro investing says, if you give, you know, Texas oilman the ability to drill holes with someone else's money, they'll drill as many as you possibly can. And so low interest rates drive speculation,”
Gurley cites Druckenmiller's analogy that low interest rates drive unlimited speculation with other people's money.
“Drucker Miller just, you know, who's someone that's made a name in macro investing says, if you give, you know, Texas oilman the ability to drill holes with someone else's money, they'll drill as many as you possibly can.”