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.
@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.
@michaelbatnick @APompliano When do you guys have Pomp on Compound and Friends?
@michaelbatnick @APompliano What narrative makes you a buyer here?
@michaelbatnick @APompliano You’re absolutely right Michael. I think Jim Bianco explained this. It’s not so inflation hedge, it’s hedge against money dilution, so FED stops printing - bad for Bitcoin.