In this episode of Unchained, host Laura Shin interviews Jeff Park, Head of Alpha Strategies at Bitwise, about his radical portfolio theory and its implications for individual investors and the broader U.S. financial system. Jeff shares personal experiences that shaped his views on the need for resilient alternative systems, emphasizing Bitcoin's role as a hedge against fiat debasement and political instability. The discussion covers the performance of a portfolio consisting of MicroStrategy Preferred Shares (SDRK) and Bitcoin, the financialization of Bitcoin through treasury companies, and the potential for crypto-native traders to capitalize on arbitrage opportunities. Jeff also discusses the American dream, the importance of alliances with countries like Japan, and the potential role of stablecoins in helping the U.S. navigate the Triffin dilemma by price discriminating between US and offshore investors. He expresses reservations about a Bitcoin strategic reserve (SBR) and highlights the importance of broad-based participation and social consensus before such a move. Finally, Jeff touches on the significance of Polymarket's partnership with X as an information market that promotes probabilistic thinking and challenges centralized authority.
