Great research Mike thank you. I asked a successful investor I know if he understood Bitcoin he said no then added he owned a relatively small amount for convenience purposes to pay for things. In other words he doesn’t trust it.
On the other side it’s puzzling how super successful investors like Doug Casey are so supportive. From a recent newsletter of his: “Things happening in places like El Salvador—where Bitcoin is a national currency—give me hope….One important thing is to become crypto- and Bitcoin-competent, so that you don’t have to use the corrupt and controlled conventional system and the dollar.”
Thanks Woody. Doug is perhaps not quite as skeptical as me. El Salvador is the place the CIA fermented civil war. The US control the country, same as they do the rest of Lat Am (ex. Venezuela), little happens there without the say so of uncle Sam. Like Michael Saylor's adoption, El Salvador's reads like a script. Case in point, the Genius Act forced the Stablecoin companies to register their businesses in a new location, given having them reg'd in the Cayman Islands wasn't a good look. Where did Tether move too? You guessed it: El Salvador.
Haha! Thanks for the reality check Mike. I've always had the feeling that something isn't right with it. I do hold BTC but only as a speculation and will be watching carefully 😉
Well I appreciate the humility Tee Cee! There is definitely a bull case for the narrative, even with govt. participation—given they are using it as an off-ramp for inflation. So it could go much higher. But remaining objective is going to be crucial.
Great research Mike thank you. I asked a successful investor I know if he understood Bitcoin he said no then added he owned a relatively small amount for convenience purposes to pay for things. In other words he doesn’t trust it.
On the other side it’s puzzling how super successful investors like Doug Casey are so supportive. From a recent newsletter of his: “Things happening in places like El Salvador—where Bitcoin is a national currency—give me hope….One important thing is to become crypto- and Bitcoin-competent, so that you don’t have to use the corrupt and controlled conventional system and the dollar.”
Thanks Woody. Doug is perhaps not quite as skeptical as me. El Salvador is the place the CIA fermented civil war. The US control the country, same as they do the rest of Lat Am (ex. Venezuela), little happens there without the say so of uncle Sam. Like Michael Saylor's adoption, El Salvador's reads like a script. Case in point, the Genius Act forced the Stablecoin companies to register their businesses in a new location, given having them reg'd in the Cayman Islands wasn't a good look. Where did Tether move too? You guessed it: El Salvador.
It's pure speculation. Next to know 'real world' application despite being around since 2009. Says it all really like all these shit-coins.
Haha! Thanks for the reality check Mike. I've always had the feeling that something isn't right with it. I do hold BTC but only as a speculation and will be watching carefully 😉
So many red flags over the last 5 years!
Well I appreciate the humility Tee Cee! There is definitely a bull case for the narrative, even with govt. participation—given they are using it as an off-ramp for inflation. So it could go much higher. But remaining objective is going to be crucial.
Great research and analysis.
You talked about the elites recommending people to use Bitcoins, this by itself is a big enough reason to convince me not to buy Bitcoin :-)
Agree with your analysis , and appreciate the quality of this post.