With inflation running at the highest levels in 40 years, bitcoin is in a 45% drawdown. theirrelevantinvestor.com/2022/01/21/not…
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@michaelbatnick LMAO. This is A+ trolling right here.
@APompliano I’m not trying to troll, I’m a buyer here. What I’m not buying is the inflation hedge narrative.
@michaelbatnick @APompliano The sword of institutional entrants cuts both ways. BTC is still very much considered “risk on”. I hope I’m wrong, but I don’t see that decoupling as imminent.
@LateApe_prime @michaelbatnick Yes, this is the most important point around bitcoin right IMO. Wall Street treats it as a risk-on asset. Bitcoiners treat is as a reserve asset. Different behaviors from different holders at the moment. Fascinating to watch.