#bitcoin is purchasing power with massive beta.
Dollars are inverse purchasing power with minimal beta.
Choose wisely.
US net liquidity since just before the debt ceiling debate was "resolved"...
Since 31-May-2023 through 5-July-2023:
Fed balance sheet: -$88B (contraction)
Treasury general account: +$366B (contraction)
Overnight reverse repos: -$388B (expansion)
Net: -$66B (contraction)
OPINION: Only a relatively mild contraction in net liquidity since 31-May-2023 is expected to have only a mild negative impact on risk assets and #bitcoin price action.
The draining of the ORR to meet the needs of the growing TGA generally offset each other.
Also, the BTFP (and other liquidity patches) have partially offset ongoing #QT, that is, the reduction of the Fed's balance sheet.
Given that the contraction is less severe than many *experts* expected back in May, risk assets and $btc haven't been--and shouldn't be--impacted too negatively.
What am I looking at?
Explain it to me like I’m 5. 😂
Yes.
Tragic. Stupid.
Tragically stupid.
Did you know that #Bitcoin forces an honest, open-source unit of account on whatever or whomever it touches?
Therefore, you shouldn't be surprised to see the kinds of organizations or people who despise it.
Great take, Alex. 🤝 nostr:note1z0pd8d8d58s8z5wwn605zs96akgr0r3m00llserrqvjd9jclygtqu3u5hh
Classic. 😂 nostr:note1dh25xay6x45sgvnewk9tzrtkga4vstf3nztsyh40v9dg0am32geqe5rygs
#Bitcoin is money of the people, by the people, for the people.
Fiat is currency of the government, by the government, for the government.
Great chart, Root! 🔥 nostr:note1jqpu5dyt2cqcexne8yvfyd69d2x0uadr9x8c2wj6758zdvzpzkasq7jhxt
Is this thing still on? Or did Apple make it dEd?
Private intranets failed in the past, but the internet has grown to become nearly ubiquitous and is one of humanity’s greatest achievements.
Private money failed in the past, but #Bitcoin will likely grow to become nearly ubiquitous and is likely another of humanity’s greatest achievements.
No worries. It’s the thought that counts. 😂👊
Most of the world's nation-states are drowning in debt, which causes inhumane boom-and-bust cycles and suffocates current and future growth.
There is an alternative--a better option--for humanity:
#Bitcoin is better money for a better world.
US government today: Get your #Bitcoin out of here… or else
US government tomorrow: Give us your #Bitcoin… or else
Borders are a nation-state construct.
Don't let them divide us.
#Bitcoin is borderless.
Unite.
Strike. It has been working for other people, so I’m not sure why you’re having issues.
Thanks anyway!