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Jeff Park of Bitwise has argued that investors who hold no Bitcoin carry greater risk than those who do — a position framed around deepening concerns about fiat currencies.
The argument inverts the conventional narrative, which treats Bitcoin as the speculative side of an allocation decision rather than the absence of it.
Flipping the Risk Equation Traditionally, buying Bitcoin is cast as the bold move — the bet an investor makes when comfortable with volatility.
Park's argument, as reported by Pluang, reframes the question: in an environment of fiat currency concerns, holding only fiat-denominated assets is itself a risk position, not a neutral one.
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