James Lavish is a macro investor, former hedge fund manager, and managing partner at the Bitcoin Opportunity Fund.

In this episode, we explore the fragility of the U.S. bond market, how sovereign credit ratings work, and why the U.S. is now priced by markets as a default risk on par with Greece. We discuss the structural privilege of the dollar as the world reserve currency, why that privilege is under threat, and how the Triffin Dilemma is playing out in real time.

We also get into institutional adoption of Bitcoin, the operational hurdles that ETFs have now removed, and what it would take for companies like Apple or Meta to trigger a wave of corporate Bitcoin treasury adoption. Finally, we look at the macro setup heading into 2026, the risk of stagflation, and why expanding global liquidity could mean Bitcoin peaks sometime next year.

Follow: Danny Knowles: https://x.com/_DannyKnowles or https://primal.net/danny James Lavish: https://x.com/jameslavish

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