Everything Is Deranged – CHAINLETTER 80
Bitcoin is back at its 2021 peak and nobody can quite agree why. Around it, markets are behaving in ways that don’t fit the traditional models: bonds and gold telling opposite stories, indices propped up by passive flows, and a US$4 trillion IPO wave being...
Crypto Needs A Re-Set – CHAINLETTER 79
Why bitcoin’s breakdown could be crypto’s most important moment. Bitcoin and most crypto prices have fallen sharply over the last few weeks. It’s hard to see how bitcoin recovers from this point. Given its dominant market share of the sector that’s clearly...
Wars Cost (Other People’s) Money – CHAINLETTER 74
Bitcoin priced in gold has fallen further in this downcycle than in either of the previous two. In terms of the world’s oldest money, this is the worst crash in bitcoin’s history. It absolutely makes sense to de-risk a gold position by adding to BTC.
Life After Bitcoin – CHAINLETTER 73
Bitcoin started its journey as a form of money and has angled towards becoming a tech platform. Ethereum has moved precisely in the opposite direction. That could turn out to be a more interesting proposition.