Separation of Money and State | 2026 Decentralized Finance with Mike Willis

In this episode of the Market Misbehavior podcast, Dave is joined by Mike Willis, CEO of Cyber Hornet ETFs. Recorded June 30th 2026.Mike shares his journey from spending 30 years in traditional finance (TradFi) to fully embracing decentralized finance (DeFi) after diving into the immutable math behind Bitcoin. We dig into the stark contrast between unchecked fiat currency debasement and Bitcoin's absolute scarcity, why the massive energy expenditure used for mining is actually a foundational security feature, and the structural advantages of a 75/25 (S&P 500/Bitcoin) portfolio allocation. The conversation also explores how Cyber Hornet's monthly rebalancing mechanism acts as a vital guardrail to protect clients from devastating "crypto winters" while still allowing them to capture outsized upside.🎓 Take Dave’s FREE course on behavioral investing: https://www.marketmisbehavior.com/freecourse📘 Check out Dave’s recommended reading list: https://www.marketmisbehavior.com/readinglist🎯 Upgrade your market awareness with Seeking Alpha Premium https://marketmisbehavior.com/seekingalpha👉  Follow Dave on X: https://x.com/DKellerCMT👉  Follow Dave on Bluesky: https://bsky.app/profile/dkellercmt.bsky.social👉  Follow Dave on Facebook: https://www.facebook.com/marketmisbehavior👉  Follow Dave on Instagram: https://www.instagram.com/marketmisbehavior📈 Topics Covered• Mike's transition from Wall Street traditional finance to embracing Bitcoin and the DeFi ecosystem• The contrast between the Federal Reserve's unchecked monetary printing and Bitcoin's hard-capped 21-million coin scarcity• Why the significant electricity cost required for Bitcoin mining (roughly $53,000 per coin) serves as a critical network feature, not a bug• The psychology behind Cyber Hornet's BBB ETF: Combining 75% S&P 500 with 25% Bitcoin to find the "sleep-at-night" volatility sweet spot• Why a strict monthly rebalancing strategy is the ultimate key to surviving 50-70% drawdowns during "crypto winters"• Why pure technical analysis works exceptionally well for analyzing Bitcoin due to its lack of corporate management or product cycles• How decentralized, borderless networks offer frictionless financial sovereignty to the two billion unbanked people worldwide🎓 Take Dave’s FREE course on behavioral investing: https://www.marketmisbehavior.com/freecourse📘 Check out Dave’s recommended reading list: https://www.marketmisbehavior.com/readinglist👉  Follow Dave on X: https://x.com/DKellerCMT👉  Follow Dave on Bluesky: https://bsky.app/profile/dkellercmt.bsky.social👉  Follow Dave on Facebook: https://www.facebook.com/marketmisbehavior👉  Follow Dave on Instagram: https://www.instagram.com/marketmisbehaviorThe content in this presentation should not be considered as a recommendation to buy or sell any security. All information is intended for educational purposes only and in no way should be considered as investment advice.