All of this should be a reminder that one of the Fed's mandates is "price stability" and that their idea of price stability is a perpetually low (soon to be not as low) level of price inflation.
In the midst of all of the bank failures and the ensuing chaotic scramble by governments and central banks bitcoin has performed like a true risk-off asset.
Bear markets are a great time to get back to basics.
I am in no way predicting that we will see hyperinflation in the near-term.
Luckily, bitcoin fixes this.
They violently debase the money in an attempt to paper up the systemic issues they let build up over the course of decades or centuries.
The lesson we should be taking away from the last two years is; stop trying to granularly control complex systems.
What really matters is the quality of Bitcoin's monetary policy and the public's confidence that the policy will be respected in the long-run.
