Travis Kling (@travis_kling) of Ikigai Asset Management joins Erik on this episode. Takeaways:- Bitcoin’s value proposition is the most challenged in the five years that Travis has been paying attention to it. It has underperformed in the market downturn and turned out not to be as much of an inflation hedge as people thought.- Bitcoin loves quantitative easing and hates quantitative tightening.- Travis figures that we are headed into a recession.- The single biggest driver for crypto will be the Fed.- Bitcoin is the only crypto that isn’t a venture bet.- There are a large number of risks heading into the Ethereum merge in Travis’s opinion. At the same time there are more institutional investors willing to buy than at any time prior.- Travis and team are captivated by play-to-earn and X-to-earn and think that it will reimagine human coordination over the next decade.Thanks for listening — if you like what you hear, please review us on your favorite podcast platform.Check us out on the web at www.villageglobal.vc or get in touch with us on Twitter @villageglobal.Want to get updates from us? Subscribe to get a peek inside the Village. We’ll send you reading recommendations, exclusive event invites, and commentary on the latest happenings in Silicon Valley. www.villageglobal.vc/signup