The concept of the 'debasement trade'—the idea that money printing weakens fiat currencies and boosts scarce assets like Bitcoin—has gained mainstream traction. Hedge fund manager James Lavish highlighted this shift in a recent interview, emphasizing the importance of owning hard assets amid rising inflation. Lavish attributes the structural inflation problem to the fiat era post-1971, noting the explosive growth in money supply and persistent government deficits. Lavish points out that major institutions and credit agencies are now recognizing the ongoing currency debasement, with Microsoft reportedly having a better credit score than the US government. He suggests that this environment could favor Bitcoin, which may recover more robustly than traditional assets despite short-term volatility. Lavish believes Bitcoin's adoption, particularly by institutional investors, is still in its early stages, indicating potential for future growth.