Daily Bitcoin $BTC Recap:
Coming off a great weekend, so I thought I'd start out with some of the doom and gloom out there.
Firstly, the funniest thing of the day, but to be expected by now, is that Peter Schiff predicts the end of Bitcoin by 2025. That was actually featured in a segment on FOX Business today. That shows me that the gaslighting is still far from over. Unfortunately, many will simply digest fake news like this, just like the time Jamie Dimon, CEO of JP Morgan Chase referred to Bitcoin as a ponzi scheme and currency for criminals as fact, and disregard Bitcoin to their own detriment.
2. Since March, there hasn't been any streak of daily inflows into ETF's. Only small daily outflows. Yet, as far as I'm concerned, the BTC price has remained stronger than I would have expected, even with all the recent market turmoil. Something for everyone to think about.
3. On the flipside of the coin, the global money supply is exploding, and if history repeats itself.... well let's see what happens.
4. Bitcoin balance on OTC desks is hitting all time lows.
Keeping all of the above in mind, Ray Dalio, Founder of Bridgewater Associates, went on the record to declare "I'm worried about something worse than a recession... We have something that is much more profound, we have a breaking down of the monetary order."
If all of the above is true, knowing everything you know, what do you want to be holding as an asset going forward?
On a final note, I learned late this evening that there was a spaces happening with the community. Although, I could not attend today, may I suggest to all of you that you try to attend these whenever you can. We are fortunate to have a great community with many insights and perspectives. You'd be surprised how someone's point of view could be of benefit to you or vice versa. This is the Bitcoin Army and we don't want anyone left behind. Have a great evening everyone.