In this talk, Oliver explains that Bitcoin's volatility serves a vital purpose. It acts as a test by fire, ensuring that only those who truly understand and believe in Bitcoin's mission remain committed. The extreme price fluctuations help rid the Bitcoin ecosystem of those seeking quick fiat gains rather than embracing the core principles of freedom from financial manipulation and control. This volatility prevents excessive leverage from building up in the system, maintaining the purity of Bitcoin's foundation and its mission to free individuals from traditional financial systems.

This is what is laid out in this talk, which took place on Twitter (X) in December of 2023. Enjoy