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In this video, I discuss why Bitcoin, other cryptocurrencies, and risk assets in general are falling today. The Biden stimulus has been slow in coming, and the Fed has allowed interest rates to creep up high enough where they seem to be hurting the stock market.
If yields rise much further and stocks fall too much, the Fed will be forced to step in with yield curve control and more massive money printing to stabilize asset prices.
Either way, the Fed will need to continue to print and monetize the government’s deficit spending for the next few decades. This is quite bullish for asset prices, and Bitcoin in particular.
Not investment advice! Consult a financial advisor.
Large sell-off in crypto and DeFi space:
US debt clock:
Powell to testify later today:
Stimulus package has been slow in coming:
Bitcoin pullbacks in the 2017 bull cycle:
Large leveraged BTC liquidations:
— Bybt (@bybt_com) February 23, 2021
MoneyGram dumps Ripple XRP partnership:
OKCoin delists BCH and BSV:
Tooth fairy now distributing Bitcoin:
Janet Yellen holds 70,000 Bitcoin:
Janet Yellen is holding 70,000 #BTC.
That #BITCOIN is worth $3.6 billion.
"Don’t tell me what you think, tell me what you have in your portfolio."
— Pierre Rochard (@pierre_rochard) February 23, 2021
Keep your eyes on the stock to flow chart:
The big picture is scarce BTC and unlimited fiat:
The world has an unlimited supply of fiat to buy a limited supply of 21M Bitcoin.
— Dan Held (@danheld) February 21, 2021
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