It's been a tumultuous few weeks for Bitcoin holders. But, something very interesting happened last week. @BlackRock $IBIT did $10B in trading volume, but only $60M in redemptions. @JayJacobsCFA says most conventional investors need to focus on the fundamentals of Bitcoin and its role in the contemporary investment portfolio. "14 months ago we put out a paper about Bitcoin being a unique diversifier and how to think about it in the context of a portfolio. In that paper, we talked about it being, if it's a 1%-2% position in a portfolio, it's contributing a similar amount of risk as any individual Magnificent 7 stock. It's just a way of framing for people that are starting with a traditional stock and bond portfolio can think about Bitcoin in terms that they already understand." "I'm comfortable with the risk of a mega cap tech company. with a market cap of around a trillion that doesn't really pay much of a dividend. In many ways, that looks a lot like Bitcoin as well. So I think part of that is helping people understand that there can be bouts of volatility. We've seen numerous times in Bitcoin's history, sell-offs like this. And so you have to think about it in the context of a broader portfolio." Catch the full conversation on Chain Reaction with me, @rkbaggs and Jay Jacobs on @Cointelegraph's X account.