Historically, #Bitcoin doesn't like dollar strength. And the DXY has broken out of the wedge. I raised the macro risks a couple of weeks back x.com/Jamie1Coutts/s… Gold is a proven geo-political hedge asset. Bitcoin has not proven itself yet - not until it decouples from the dollar. Last year, during the US bank crisis, when interbank rates exploded, for the first time ever, $BTC rallied. #Bitcoin has only been around for 15yrs and with every crisis, it chips away at the edifice. Our profligate govts have raised the total debt burdens to insane levels. Remember, this current epoch is considered 'peacetime'. What happens if things escalate? Moar Debasement! #Bitcoin will sniff that out and it will resume the outperformance of Gold and everything else. In saying that, I am a massive Bull on Gold. Gold is central banker money, and Bitcoin is the people's money.
Historically, #Bitcoin doesn't like dollar strength. And the DXY has broken out of the wedge. I raised the macro risks a couple of weeks back x.com/Jamie1Coutts/s… Gold is a proven geo-political hedge asset. Bitcoin has not proven itself yet - not until it decouples from the dollar. Last year, during the US bank crisis, when interbank rates exploded, for the first time ever, $BTC rallied. #Bitcoin has only been around for 15yrs and with every crisis, it chips away at the edifice. Our profligate govts have raised the total debt burdens to insane levels. Remember, this current epoch is considered 'peacetime'. What happens if things escalate? Moar Debasement! #Bitcoin will sniff that out and it will resume the outperformance of Gold and everything else. In saying that, I am a massive Bull on Gold. Gold is central banker money, and Bitcoin is the people's money.
@Jamie1Coutts Fed's reverse repo facility plummets to lowest level in nearly three years Michael S. Derby Mon, April 15, 2024 at 1:41 PM EDT·1 min read "...money is coming out of reverse repos to deal with financing the Treasury's debt issuance....
@Jamie1Coutts the isolated incident of BTC rally during SVB crisis was because crypto companies where dumping USDC (into BTC) due to run on deposits at that bank...it was not a macro event.
@Jamie1Coutts Good tweet. Agree gold is a proven hedge during war. Btc is in uncharted water. Hard to see if it will rise or crash. Thus far, since Iran attacked Israel & since Israel said it would respond, btc has capitulated. We’ll see what happens next.
@Jamie1Coutts So for now Jamie, we should hold both gold and bitcoin
@Jamie1Coutts "Gold is a proven geo-political hedge asset" Did gold rally significantly when Russia invaded Ukraine?