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 “prove” a very strong word here. “does not disprove” more apt imo.
@LowSloth @APompliano I agree, and that's true about most things. At the risk of sounding like a wet blanket, hard to ever be certain of why markets do what they do.
@APompliano @michaelbatnick @LowSloth The friendship I didn't know I needed in my life.