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We are watching BTC transform from a risk on asset to a risk off asset.
Today we saw further proof that the government cannot cut the budget deficit. The market reacted by selling US treasuries, selling USD, selling equities, and buying BTC.
The transformation is not yet complete. It will take more days like this to convince the market that BTC is a risk off asset. Like most big changes, this will happen slowly and then suddenly. Those who are caught off sides when the sudden change happens will be on the losing end of the greatest transfer of wealth in human history.
Today we saw further proof that the government cannot cut the budget deficit. The market reacted by selling US treasuries, selling USD, selling equities, and buying BTC.
The transformation is not yet complete. It will take more days like this to convince the market that BTC is a risk off asset. Like most big changes, this will happen slowly and then suddenly. Those who are caught off sides when the sudden change happens will be on the losing end of the greatest transfer of wealth in human history.
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