The UK General Election will starkly illustrate the scale of societal division. The role of a bloated State in setting us on this path is largely ignored. Government over-reach can be traced to financial ill-discipline and the egregious accumulation of peacetime debt, which could only have been enabled by a fiat currency system. We discuss how bitcoin, as an independent, private, and scarce monetary system, offers itself as an alternative.
Short term bitcoin selling pressure has come from well-flagged sources. This will clear. Overhangs like these change nothing about the underlying fundamentals of the asset. We view this period as a buying opportunity, especially considering the macro storm clouds that lie ahead. We also consider whether we are at a turning point for ETH relative to BTC, as well as describe the key features of ETH’s next upgrade, Pectra.
In the macro section we highlight the unsettling weakness of the Yen, at a time when interest rate differentials have been falling. This shouldn’t happen. The latest debt estimate from the Congressional Budget Office reminds us of the fiscal rot in the US.
Finally, we provide updates on NEAR, BNB and World Mobile Token in the CryptoVerse section.
Ethos The state of society, fighting the blob, private vs government money
Technical US$25bn of institutional overhang, an ETH turning point?
On-Chain HODL waves, more fear and less greed
Macro Yen meltdown, US fiscal rot
Cryptoverse NEAR, BNB, World Mobile Token and Ethereum’s Pectra upgrade