Bank stocks are getting crushed right now with Bank of America leading the way down.
Bitcoin is up 102.60% while Bank of America is down 25.14% YTD. 2023 may go down as the year of the decoupling.
We may come to find that the market prefers a peer-to-peer distributed monetary system with a hard capped supply and no counterparty risk to a completely centralized monetary system in which banks have zero reserve requirements and are sitting on worthless government debt.
nominal balances will forever be guaranteed. i don’t think the public is worried about banks balance sheets
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