As the total amount of negative yielding debt (government bonds that are expected to lose value over the duration of their lifetimes) continues to balloon above $13 TRILLION we're seeing a sharp rise in the price of Bitcoin. It seems as if Bitcoin is acting as a perfect hedge against this lunacy as our friend Travis points out.
I expect this trend to continue. Especially as geopolitical wildfires like the US v. China trade war, the US v. Iran sanction war, and China v. Hong Kong autonomy continue to burn in an environment in which the ECB, the Fed, and the BOJ all look primed to cut interest rates and turn the printing machines back on. A perfect shitshow of a concoction that has presented a golden opportunity for Bitcoin; an asset completely bereft of the controls of incompetent bureaucrats hell-bent on forcing the world in a certain, debt-fueled high-time preference future.
I honestly feel incredibly lucky that Satoshi was kind enough to launch Bitcoin and that it has survived for over a decade now. Without it, we would have very little recourse other than gold (which would be terrible for the modern digital age) to protect ourselves against the poor decisions of sociopaths.
Protect yourself against the insane incompetency of the legacy system. Buy Bitcoin.
Ready to get back to the Beast Coast for some pork roll and scrapple this weekend.