For decades Warren Buffet has pushed Coca-Cola, the sugary/corn syrupy drink that has led to mass obesity, diabetes, cancer and Alzheimer’s globally.
Let’s define disgusting...
Dear Twitter bitcoin ETF experts,
Can you please give me a timeline of when this ETF is going to get approved so we can be prepared to launch?
Also would like an explanation of all the various filings, just to make sure we did it right.
Thank you!
75 bps is no news.
Powell speech matters more.
Key words: “Labor market out of balance; high demand for workers”.
Unemployment will have to reach 6% or inflation steady at 2% before a shift occurs to policy.
The Fed was too aggressive in 2020, caused massive inflation, failed to recognize inflation in 2021, and kept monetary policy loose for too long.
Now will tighten too much and fail to stop before completely tanking the global economy.
Bitcoin ETF royalty.
Queen Eleanor and King James.
They were the fact-checkers, educators, and public correctors of bad takes.
Thank you for your work on BTC ETFs.
Investors buy stocks because they expect prices to move higher. The P/E ratio of the S&P has to move to 20x in a year to produce at least a 10% annual ROI. This with unemployment at 22% and rising.....Most overvalued market I have seen
Unpopular view, but I don’t disagree with Gensler.
Bitcoin belongs in private wallets using private keys. Not in financial products where rent seekers charge 2-4% to “manage” it for you or on exchanges for you to lend out for yield, possibly through rehypothecation.
2)
The number of times I have heard "this time is different" or When the Covid lockdown ends" in the last month...we are entering the Fear stage (some just do not realize it yet)
@LeahWald
and I just wrapped up our macro analysis on a coming food availability crisis. Theme was spurred by conversations and observations shared by
@stacyherbert
- looking forward to discussing more on
@KeiserReport
this week.
The last 4 times I have flown
@AmericanAir
we have been delayed, missed a connection, slept at an airport hotel.
This time we will miss our connection and they’re trying to rebook us… two days later.
Train wreck every time, such a trash airline.
For anyone curious about Bitcoin, this may be the best digestible explanation of its history, context, purpose, and what it is today. And very little bias. Great work,
@krakenfx
and congrats
@jespow
and
@danheld
I saw a headline “how best to use your stimulus check”; but I didn’t read the article. Don’t need to.
Just buy
#bitcoin
With every new “stimulus” bill passed, cash is worth less.
I worked for Scott during the last recession. He was one of the few people who saw it coming and was prepared well ahead of it. There was very little he got wrong then, and I doubt there is little he gets wrong this time.
Bitcoin on your corporate balance sheet makes a lot of sense.
@LeahWald
and I bought more
#Bitcoin
on our corporate balance sheet today on the dip. We have employees who want to be paid in bitcoin, and soon vendors will too.
Probably a popular opinion already, but
@dickerson_des
might be the coolest person in
#Bitcoin
Also my 12 year loved meeting her, so she has street cred with the next generation of bitcoiners, too
I don’t see a Fed pivot in 2023. This includes no increased size of balance sheet nor lowering rates.
BTW, raising rates at a lower rate is not a pivot, nor is pausing rate increases.
Pay close attention here. This rally is a Bull Trap initiated by short covering then short squeeze.
We are at the bottom, but more leverage needs to be flushed out before we have a real rally.
DON'T FORGET--illiquid markets are easier for manipulators to manipulate than liquid markets. No clue if this rally is sustainable but be careful--lots of leverage still to be liquidated (based on publicly available info) & many people have incentives to pump prices short-term.🚧
@stacyherbert
has been raising the alarm on this for weeks. The bigger issue is Emerging Market countries, where food cost is 30-50% of disposable income
At
@ValkyrieFunds
we hold
#Bitcoin
on our balance sheet
One good reason is when banks close wires at the end of the day, we can still transact
We did that today
The Fed is enabling modern-day Robber-Barons.
Warren Buffet does not need to raise debt capital to survive. Nor does the Fed need to buy Berkshire Bonds to save the economy, but they are buying anyway.
Dear Genesis debt holders:
Don’t take anything less than 100% of what is owed to you.
And don’t settle for the old “we are all separate companies over here at DCG, Genesis, Greyscale”.
That has SBF vibes “I haven’t been involved in Alameda for years…”
DM me if you hold debt
Normally I would say that an inverse bitcoin ETF marks a bitcoin bottom.
Indeed, several technical and fundamental factors also point to bottom area.
Unfortunately, we are not at the bottom for macro markets. Bitcoin likely outperforms relative to other markets from here though
@jespow
Rather than complaining about
@UberEats
ceasing delivery services to the area, maybe
@MattHaneySF
should start delivering food there at a net loss.
A lot of people think the market is like Feb 2009: V’ing up into a wall of cash. I think the market looks more like 1929 and 1931, with indices recovering into “bull territory” again. You can google to see what happens next.
I am deeply saddened by the passing of my longtime mentor and friend Scott Minerd.
He hired me for my first asset management job, and we trained together for 15 years.
He taught me capital markets, importance of leg day, and most importantly, charity.
I will miss you, brother.
'Unintended' consequences of another 75 bps rate hike in July: double digit corporate debt defaults, pushing S&P to 2,700.
Many companies are already scrambling to refinance their current debt, but no takers due to lack of ability to make debt service at new yields.
Unemployment: Out of 330mm Americans, roughly 50% considered the workforce. 17mm (11%) have claimed unemployment, reflected in yesterday's numbers. This is a lagging indicator. SMB payroll companies are indicating 40% unemployment..We are likely already at 18% unemployment.
If you think oil prices are low now, just wait for it, they could go lower. Oil producers are now willing to pay pipelines and freighters more to take their oil than price paid by end buyer. This means we will see negative oil prices in some cases
Just to be clear, Valkyrie had no exposure to Celsius, BlockFi, Voyager, 3AC, Alameda, FTX, Gemini Earn (we pulled funds out before they locked up), Genesis, and now…BitsLotto
I've been saying to avoid Binance, and the BNB token for years.
Jim Cramer today: "They proved collateral, not reserves, but CZ looks like a good guy. I’m bullish here, loading up on their tokens. Way oversold!”
This was your final warning to sell...
The “Inflation Reduction Act” is a spending bill that actually increases inflation.
Maybe we should pass a law that says you can’t name a bill the opposite of what it does. That would be progress.
Bank of England voted to raise rates. The battle to stop inflation has begun. So has the early stages of a global economic meltdown.
Find the exits, and look for safe havens.
Bitcoin up on speculation that the Fed will turn dovish again, after today’s inflation remarks.
Reality is wage growth and government spending will continue to contribute to higher inflation.
Don’t expect that pivot from the Fed soon…
Still here. Nothing has changed. S&P overvalued, and corporate defaults around the corner, as well as 12%+ unemployment; all to reveal itself between now and Q1 earnings reports.
During restoration, I had to explain to my kids why old cars have ashtrays, that people used to smoke cigarettes in their cars.
I then had to explain that the "science" at the time said smoking was good for you and the government passed laws protecting cigarette companies.
Announcing Steven McClurg as a
#Bitcoin
2023 speaker!
Steven is the CIO of and Co-Founder of
@valkyriefunds
, a leading financial services firm offering
#Bitcoin
products at the intersection of traditional finance and digital assets.
Not opening GBTC up for redemptions while sitting on a 40% discount "not fair".
Lending money to the likes of 3AC to buy GBTC with intention of selling at a premium to retail investors who got stuck also "not fair"
Conventional wisdom: markets go down with yield curve inverts
Capital markets: but risk markets typically go higher as Fed raises rates
Reality: inflation is so high, there is little disposable income to invest in markets to send them higher.
Yes, it is the best way to buy gold.
Costco's return policy is amazing.
When gold price drops due to bitcoin adoption, you can simply return it for the price you paid.
You're welcome!
This is amazing!
In the same article, SBF both states that he hasn’t run Alameda for years and wasn’t involved, yet recreates their balance sheet over several time periods from memory…
All risk markets up on Fed’s “tough talk” on inflation, but lack of actual tough action.
Market thinks the Fed will declare victory on the first inflation print lower than 9% YoY. There is not enough political resolve to tank markets ahead of mid-terms.
All negative news.
The Swiss Franc (and similarly Swiss Banks) have been a safe haven asset and store of value.
#Bitcoin
has surpassed the franc not only in market cap, but in usability, security, and trust.
Fed raises rates and attempting to reduce balance sheet.
- Real estate will continue to be hot as inflation still rising, and expectation of higher rates drive mortgage applications
-
#Bitcoin
and commodities like oil will continue up; driven by low supply, high inflation, rates
The Reddit army is turning their attention away from shorted equities and on to crypto.
Problem is, not enough available float of
#Bitcoin
to supply the demand.
WBD771 - Bitcoin’s CBDC Shadow with
@samcallah
. We discuss:
- The Bank for International Settlement
- Impacts of a global CBDC
-
#Bitcoin
, CBDCs, & currency competition
- Fiat, inflation, & hyperbitcoinisation
Thank you
@PeterMcCormack
for having me, and thank you
@BitcoinMagazine
for hosting us in your Nashville office.
This might be the most depressing conversation you will hear on the show regarding
#inflation
If you are a rent seeker (like I am) and charge clients to hold, trade, invest in digital assets, then proper disclosures and representations need to be made.
3)
Spent the afternoon
@bitcoinpark_
doing bitcoin things.
Discussing lighting wallets, setting up hardware wallets,
#nostr
@ODELL
pontificating with me on future of the above. Always a pleasure sir.