Jack Mallers: Why Bitcoin Is Gold You Can Teleport

Added: 2026-05-23

[00:00:00]The idea that Miles and I are working on, the the 2019 idea that I had, it came from um me trying to understand why Bitcoin was better than gold, believe it or not.

[00:00:11]And the reason Bitcoin is better than gold is because Bitcoin is uniquely both a monetary asset, lower case B, it's a bearer instrument, it's a commodity, right? But it's also a monetary network, upper case B. What's the gold monetary network? There's no It's us. Our my human legs are the gold monetary network. The gold monetary network is if I need to get gold to Nigeria, I better take my ass to the airport. That's what the gold monetary network is. And And Bitcoin was both. It was able to achieve transaction finality without me having to deposit it to the government, which gives me an IOU, and in 1971, they said what's yours is no longer.

[00:00:50]And it was the this monetary network idea. And I was like, "Holy crap." And this was 2019, I was however many years old, and I said, "Wait a second. So, I can the equivalent of throwing a gold bar from here to Nigeria in less than a second and at no cost? Well, that's kind of cool. And if the person wanted to send naira or dollars or euros or pounds, well, they can give it to me.

[00:01:12]I'll turn it into the faster gold. I'll throw it to Nigeria in less than a second and for free. And I'll convert it back into the currency, no problem."

[00:01:20]Bitcoin's a global, liquid, sellable asset. It's easy to get in and out.