When BTC was at these levels last time, the markets in general were frothy. Now the markets are fearful, and we’re back. When the markets panicked, BTC largely held ground. The decoupling is happening right before our eyes. The Vegas conference is full of suits all wanting a piece of the pie. nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle is running a likely better Saylor-play. The tariff effect hasn’t yet kicked in, but at some point this year it will.

Aggressively bullish on hard assets, defensively bearish on equities. If the foreigner passive income tax gets passed, aggressively bearish on US equities and bonds. Hard to tell about Europe. On one hand tariffs will hit there too. On the other hand, rearmament drive is real. Euro might be buoyed by international dollar refugees.

On one hand China is ascendant. But then, hard to safely buy, will be affected by tariffs, and I have strong belief that innovation needs freedom to flourish. Also, Taiwan. If they force the question, you likely don’t want to hold assets in China as a Westerner, so pass.