Bitcoin’s rise to new highs comes at a time when the Fed is not printing money (as hard-money types so fear), but unprinting it.
SWIFT’s forays into blockchain hint that one day the tech can replace intermediaries.
The stock market ignored the inflation news this week, and rightly so.
Will bitcoin ever go down?
Is crypto an investable asset class?
Intrepid crypto investors have already made one big discovery: “Fully diluted value” (FDV), the crypto metric commonly used in lieu of market capitalization.
Humans would not have progressed much further than hunting animals with rocks without our unique ability to achieve “intersubjective understanding.”
Don’t overlook developers and startups tirelessly building real infrastructure for something flashier.
It was yet another week of all-time highs in US equities this week, in part because Chair Powell encouraged us to continue ignoring him.
Q: Will this be a short cycle? Or a supercycle?
One of the selling points of crypto as a new financial system has always been “atomic settlement.”
When I started as an equities trader in the 1990s, the understated way to signal success at work was wearing a Hermès tie.
