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The monetary metals, gold and silver and so-called digital gold, or Bitcoin, have had an unusual few months. As recently as September last year, the gold price was $3,500/oz, silver was $40/oz, and a Bitcoin was priced at around $110,000. Since then Gold rose by over 50% to $5,400 / oz before correcting to $5,000 / oz or up 40%; silver rose nearly 200% to $115 / oz before correcting to $80/oz up 90% and while all this was going on the price of Bitcoin more than halved peak to trough before stabilising down 40% at c $70,000. So, why the volatility spike? What just happened to the debasement trade? Has the newly nominated Fed Chair changed everything? Is AI or quantum computing about to kill Bitcoin? Is the FT right? Is the Bitcoin price still $70, 000 too high? To help dig into what we have just experienced, I was joined last week by two friends of the pod and long-term advocates of precious metals and Bitcoin, so-called outside money, to try to better understand the drivers behind these volatile asset prices and how to assess where things might go from here. Dominic Frisby, of the Flying Frisby Substack ( https://www.theflyingfrisby.com/ ), has written books on Bitcoin and gold, and multi-asset manager Charlie Morris of ByteTree ( https://www.bytetree.com/ )is the founder of the BOLD (Bitcoin & Gold) Fund, which recently launched on the London Stock Exchange. It was a timely discussion in which we tried to dissect the different drivers of these asset prices and what has changed as a result of these dramatic moves. But of course, none of what you are about to hear is any kind of advice, but just for your information and hopefully entertainment too. You should seek personal financial advice and do your own research before investing a penny in these crazy markets. And with that said, please enjoy my conversation with Dominic Frisby and Charlie Morris. Brought to you byProgressive Equity. ( https://progressive-research.com/ ) In the Company of Mavericks Episode 114 February 19, 2026 ★ Episode details: https://share.transistor.fm/s/fa90f74a ★ Additional episodes: http://www.inthecompanyofmavericks.com
