On this episode of Blockworks’ podcast “On the Margin,” co-founder Michael Ippolito sits down with Peter Doyle, Managing Director and co-founder of Kinetics Mutual Funds. Peter weighs in on negative real returns for bonds, navigating the risk of secular inflation and how bitcoin could benefit society longterm.

According to Peter, bitcoin is a verifiable digital scarcity with a high demand and a limited supply. “And as a result of that, the value of a single bitcoin has the potential to go up exponentially from here. It’s probably the greatest risk-reward asset that I’ve seen in my entire life,” he said.

Mike and Peter discuss a wide range of topics including bailout for equity shareholders, investing in an inflationary environment and bitcoin from an institutional perspective.

“On the Margin” is a two-part show. Once a week, Mike interviews industry experts. Episodes go live every Wednesday.

Subscribe to “On the Margin” today on Apple or Spotify, or watch episodes on YouTube.