How long until the first bitcoiner pope?
nostr:nprofile1qqst0xtvrqlqxm0j0qpfgkuqh0wgkzl4judkvgdgd0e4d8pnyytlqlgpzpmhxue69uhkummnw3ezuamfdejszynhwden5te0danxvcmgv95kutnsw43q9fhxek how are you thinking about the MSTR covered call products coming onto the market? MSTY and IMST? Think they can sustain the dividends?
Feels like these products are absorbing a fair amount of the capital that used to flow directly into bitcoin. Doesn’t surprise me that Bitcoin isn’t ripping since you have all of these derivative products now offering various ways to get exposure to bitcoin without the direct (volatile) exposure to the underlying asset.
Well we sold some to pay taxes so now bitcoin should be ready for a bitty pump. Maybe an itty bitty but a pump nonetheless.
Bitbonds don’t work. They won’t offer a reasonable enough yield.
Nic Carter was right. There is no peaceful transition once the United States legitimizes bitcoin with actual purchases. Definitely not once they pass legislation requiring purchase of 1M bitcoin.
I only see the value of the downside risk protection on a < 4 year timeline. Most of these bonds getting issued would be 10+ years (where we see the current weak auctions). And once the bitcoin is validated as a storer of value in action vs. the increasing rhetoric, that math gets even stronger for Bitcoin’s superior storer of value. As soon as bitcoin bonds are actually on offer by a global superpower, it’ll obsolete the concept of bitbonds.
But - in a scenario where bitbonds are a real thing and legalized by nation states - why would anyone buy bitbonds rather than bitcoin? Interest rates would have to be much, much higher to entice buyers of bit bonds vs. the newly legitimized bitcoin.
The United States has oil. China does not have oil. Important fact to remember during all this.
Marc Rowan on CNBC Squawk Box basically says there is no alternative to US debt markets for capital allocators. He assertively, even condescendingly states that China can’t do anything else with their capital other than participate in US Treasury markets.
Many of us believe that Bitcoin stands poised to act as a liquidity sponge for (some of) that excess capital. Neutral reserve asset that rises above geopolitical posturing.
The challenge becomes the ‘Impossible Trinity’ and the fact that Bitcoin represents the free flow of capital. So governments and central banks will have to choose either (1) fixed exchange rates for their currency or (2) independent monetary policy …
What would China prefer? The ability to make their own monetary policy or a fixed exchange rate of their currency.
Right now China uses capital controls to mostly achieve both. If they choose to allocate towards bitcoin China will have to choose.
Interesting choices soon facing central banks & currency issuing governments.
Speaking intentionally loosely here on what I appreciate is a complicated situation…Regardless of what our calculations show or how much leverage the United States thinks that it has over China, an authoritarian, communist regime can likely hold things together longer than we might assume given the same conditions for a “free market” based democracy.
Waking up in the middle of the night to see what’s happening in Asian and European markets is something I envisioned I would do during this part of the cycle but I did not envision it would play out in quite this way. 😂
nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpzamhxue69uhhyetvv9ujucm4wfex2mn59en8j6gpp4mhxue69uhkummn9ekx7mqsp0ph3 I’m hearing you’ve started to release Strike’s bitcoin backed loan product. Congratulations! The terms look about as favorable as anything I’ve seen on the market…absolute boss.
Where can I learn more about it? So far nothing is showing up on my app UX… does that mean I don’t qualify for it based on my level of purchasing (so far) or does that mean it is not yet offered in my jurisdiction?
Regardless, really cool development for Strike … bravo!
Update: done during the afternoon nap. $500 saved…keep those sats in cold storage.
nostr:nevent1qqsv9xg2e8j0h33dkl7fymjgd5k2xkhxcfevz0wrudlghehp4hhhptgppemhxue69uh5qmn0wvhxcmmvuknmvx
But the level of the Fed response (25 bps cut) and timing of the Fed response don’t seem to be sufficient to help the refinancing conundrum facing the Treasury.
Went to install a replacement toilet in our 1960s rancher. Long story short: it seemed more involved than I was anticipating, and my situation this week would benefit from the convenience of a quick, dreamless install so I called a plumber and they showed up within 30 minutes of my call.
Plumber - nice guy - proceeds to tell me, “oh yeah, you basically have it right, but all you need is a new flange (a $40 part). Then put the wax ring down (which we already have). Then mount the toilet (which we already have).”
He then proceeded to quote $500. For at most 30 minutes of work - probably 15 minutes for him - and a $40 (retail) part. To install a product that cost a couple hundred dollars. This is symptomatic a failure of a currency. The fact that anyone would consider paying that type of rate for that type of work that would take that amount of time is ludicrous.
I’ll be installing a toilet tonight after my daughter goes to bed.
Masters week really is the best week.
Any report/article about alternatives to US Treasuries that doesn’t mention Bitcoin should be filed away as propaganda.
