It is Bitcoin surging 34 percent since last Friday, for its best week since January 2021. Now at its highest level since last June, crypto-linked stocks are also coming along for the ride. The Marathon digital coinbase microstrategy is also seeing huge games.
This week, with Marathon jumping more than 50 percent, what did you call it now? Was it that fat pitch? Is that the term? I just find it very interesting. If you think about Bitcoin and how it acted last year in the period that we’ve had the highest inflation in 20 years, one of the pillars of the bull case was as an inflation hedge.
Now it’s obviously acting well, as you know, with centralised financial systems and everything like that going haywire. I just don’t find it that interesting, and then you think about all the money that’s pouring into Coinbase up 100 of the year. You know, that doesn’t look interesting to me either if you think about how much market cap has been lost in the traditional banking sector.
This is a 17 billion dollar market cap company. This is one way to express this view: I don’t think it’s going to be a good long-term one well, and what’s the biggest risk right now, relative to banks and everyone else who’s flying to bitcoin because of, what’s going on with banks, it’s regulation, and what’s the biggest risk to bitcoin going forward, it’s regulation, and it’s probably just gotten worse, so it makes me sceptical.
it’s worse I think, it does because, they’re already in the crosshairs and I think now generally speaking the regulatory environment get sturned up, and I think Bitcoin it’s interesting that ,because I think there’s a an angle for it to be less because, they’re focused so much on banks right now.
