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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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From: bull_dozer	11/18/2020 7:05:05 PM
	1 Recommendation Recommended By Cogito Ergo Sum Read Replies (1) of 219208

Ray Dalio Has a Point About Bitcoin At $18,000 Is this about hoarding digital gold, or getting rich quick? Hence the confusion of Dalio, who wondered this week if he was “missing something” after dubbing Bitcoin a bubble back in 2017. Nothing had fundamentally fixed Bitcoin’s weakness as a currency or store of value, he says, and if it ever became a threat to governments and central banks it would be keelhauled by regulators. He has a point: Bitcoin still looks like an asset with bubble-like price dynamics, exaggerated by the artificial scarcity of its 21-million supply cap and a “HODLing” mentality among its acolytes, who hoard an estimated 60% of outstanding coins. Sure, you could call a lot of things bubbles, including stock markets supercharged by Tesla Inc. and blank-check SPACs. But the unique power of Bitcoin hype is demonstrated when celebrities such as JK Rowling and Maisie Williams ask publicly for crypto tips on Twitter. The likes of Novogratz and Elon Musk are happy to offer bullish advice. bloomberg.com

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