TXMC

Fed cannot do shit unless the inflation mandate is in SIGNIFICANTLY WORSE shape than the labor mandate and forces them to hammer the economy with rapid hikes that overpower the stimmy effect of higher cash yields. Barring that (which is not on the visible horizon), all they can do is try to appear serious with bullshit little hikes and "we WILL deliver price stability" assertions while fiscal runs the show. As I see it you have two choices: - Watch, mouth agape, as yields continue going higher than they've been since 2007, since 2000, since 1997, etc all the while begging fruitlessly for the adults in the room to slash spending bigly against the preferences of 100 million voters. - Accept that we WILL NOT get our fiscal house in order in an age of populism and a broken social contract, buy gold and BTC, and strap the fuck in because its a bond bear market, baby, and it's just getting started.

Bitcoin does no such thing. It takes store of value properties to their characteristic extreme, a reductio ad absurdum for the sound money camp. A sort of evolutionary overreach. The rigidly enforced rarity which makes it so valuable and unique is also why it is unsuitable as a currency or the basis of a dynamic economy. It can still be a wise thing to own. Cease convincing yourselves that an inelastic deflationary money is free of distortions. They are polar opposite distortions to fiat, and come with their own problems.

Might be time for a little pull back on $BTC after such a strong move. The interesting thing will be to watch sentiment as folks argue whether the bear market is still active.

The only way sovereign properties are preserved is by people having and using self custody. The marginal new investor today buys proxy exposure through other instruments like ETFs or MSTR. The ETFs are only 2 1/2 years old, give it another 2 1/2 years and they will own a non-trivial percentage of the supply. They're already at something like 6%.

This is correct. Majority of people are not worried about borderless transacting or censorship resistance. They just want more money. Hence why self custody is going the way of the dodo, which means Bitcoin's sovereign properties are weakening over time. On a long enough timeline it will lose some of its core value proposition, unless events in the world around us force a re-rating of those properties among everyday people. Like if the state becomes more restrictive on capital. Otherwise, it eventually becomes a state captured digital collectible.

It was also kind of a bull market for ants. To the point where we had people seriously arguing that Bitcoin hadn't had a real bull market yet. https://t.co/lDkt1o8PFW

It is much easier to average into a range at the lows when BTC is down bigly than to point to a specific lower price in the distance like Babe Ruth calling a home run. The latter risks you being left behind, like what many of this cycle's bears are experiencing today.

A perps-led vertical rip back into range highs. Shorts liquidating then longs chasing. This is often where hearts get broken. Can we bust through? $BTC https://t.co/k1rLAgl43j

All this bill really does is consolidate govt-held BTC and other cryptos under an official umbrella of strategic reserve/stockpile, require that they hold it for 20 years (unless Treasury deems it "in the interests of the United States" to sell), and tasks Treasury with figuring out "budget neutral" ways to acquire more BTC. That's it. There is no authorization for budgetary purchases of BTC by the federal government. And thank god there isn't. Read it yourself: https://t.co/Uqr31kTBjW

$ETH That 2500 seller is going to win isn't he https://t.co/rEzBnlcc7t