I think even though we are in an everything bubble, bitcoins liquidity profile and volatility is still seen as a negative for big players and normies so they going to keep running up things like real estate, stocks, private equity as governments become the only buyers of bonds
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Though "This post is for paid subscribers", there is some info is in the first part of the newsletter issue available to all.
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The conclusion is that global investors will likely increasingly search for an asset to park their purchasing power that can escape both the negative real yields present in the fixed income market and the high earnings multiples (and subsequently low or negative real equity yields).
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Though "This post is for paid subscribers", there is some info is in the first part of the newsletter issue available to all.
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