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Strongly disagree, the USD is still the main flight to safety in the world. I don’t see that changing any time soon. That was before a global pandemic and the
by alwillis 6y ago
Strongly disagree, the USD is still the main flight to safety in the world. I don’t see that changing any time soon.
That was before a global pandemic and the printing of many trillions of dollars this year, with no end in sight. Why do you think Saylor [1] put his corporate treasury of $425 million into BTC? And then issued bonds to buy even more? Because keeping his company treasury in cash and cash equivalents would mean losing 5-20% each year, since interest rates are zero and inflation is increasing.
[1] https://www.microstrategy.com/en/bitcoin https://www.microstrategy.com/en/bitcoin
[2] "The Fraying of the US Global Currency Reserve System"—https://www.lynalden.com/fraying-petrodollar-system/ https://www.lynalden.com/fraying-petrodollar-system/
- bluedevil2k 6y agoInflation is NOT increasing. It's around 1% right now, near historical lows. There's no way that cash will be losing 5-20% each year, that's crazy. Who cares what Saylor is doing, he's 1 guy who controls the purses of his company. Last I checked he's no financial wizard with a proven track record. He's just noteworthy because he's the only one doing it and he'll get burned badly if BTC drops back down to $4k. Like lose the company burned.