Larry Fink calls Bitcoin a “currency of fear.” Francis Pouliot says the U.S. government is supporting its own demise. And Avik Roy explains how adoption, Bitcoin treasury companies, and peer-to-peer rails harden Bitcoin against future crackdowns. In this episode, we test Wall Street’s “digital gold” narrative against Bitcoin’s governance, macro incentives, and capital flows—asking whether Washington understands what it’s really unleashing.

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