Fiat = fragile. Bitcoin = antifragile. Over the last week, the extreme volatility in medium to long duration treasury bonds has exposed the fragility of the dollar debt-based monetary system. Volatility increases the need for intervention—more dollars, more printing, more debt. Bitcoin’s volatility strengthens the monetary network. The supply stays fixed at 21 million, no matter what. Upside volatility draws attention and encourages adoption. Downside volatility hands cheap coins to those who understand bitcoin and have the balance sheet and income to buy more. Volatility breaks fiat. Volatility builds bitcoin. We're witnessing the unraveling of a fragile system—and the rise of an antifragile system. Chaos and volatility accelerate this process. h/t @saylor This is hyperbitcoinization.