With inflation running at the highest levels in 40 years, bitcoin is in a 45% drawdown. theirrelevantinvestor.com/2022/01/21/not…
@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 Inflation hedge assets are forward looking. Bitcoin rose hundreds of percent in anticipation of inflation. It served as the perfect hedge. Now people believe inflation will be lower in the future, so it isn't going up hundreds of percent. Your analysis proves inflation hedge.
@APompliano @michaelbatnick “Bitcoin rose hundreds of percent in anticipation of inflation” hahaha holy shit man. #Bitcoin began to rise hundreds of percent when the fed began its infinite QE/ZIRP policy which left risk assets as the only place to generate yield
@APompliano @michaelbatnick Yes obviously. I just don’t buy the inflation hedge narrative, I see it solely as a risk asset that’s benefited greatly from the current macro environment. Only time will tell as QT and rates progress but I would be shocked to see new ATHs this year