If you’ve watched the Big Short, you’ll know the scene when the traders just cannot figure out wtf is going on

- They can see the over-leverage

- They can see the synthetic demand

- They can see the incumbent arrogance

Yet the market hadn’t done what they expected

- People were still buying houses

- Ninja loans were still being issued

- CDOs were still being allocated

What’s missing?

Time

Time in the market

They were directionally correct

- But things weren’t bad enough

- It wasn’t broken enough

- They hadn’t kicked the can far enough

What if that’s where we’re at today?

Bitcoin is actually a raging BUY

“The Big Print” remains a “when” not “if”

The 4 year cycle thesis is duping people into selling too early

The “it’s an IPO” tradfi lens is making everyone docile

We’ve won…

But what if that’s total BS?

Digital scarcity has never been seen in the wild before

What if endless money gets warped into a Veblen good like never before?

Price goes up. Demand goes up…

Q2 next year could be proper fireworks

HODL friends

HODL