Les Borsai says the scarcity of Bitcoin (/BTC) is "why investors see it as a long-term hold." But on recent volatility, he says the Bybit hack impacts the crypto space but also points to Congressional activity that could lessen tax burdens on defi currency. "All of that leads to the volatility we're seeing," Les adds. He credits the Trump Administration's efforts to create a digital currency reserve as key steps into institutional adoption.