We went from greed to fear in a matter of hours. And that didn’t just happen in the crypto market. Wall Street is the same. Already, skepticism is growing. I mean, the euphoria is wearing off. The correlation between Bitcoin and the S&P 500 is shining brighter today than ever before. In other words, prosperity is good for us, not crises. And we’re going hand in hand with Big Tech. More stimulus is coming before the U.S. elections.
Many are presenting Bitcoin as an asset for the fearful. The „digital gold. The „safe haven. But the evidence points to the fearful taking refuge in the dollar and treasury bonds. Bitcoin, instead, is for the optimists. There is risk. And risk implies volatility. But in volatility is opportunity.
Now, let’s talk about the most read news of the week
Max Keiser: Bitcoin Price to Reach New „Short Term“ High as Buffett Leaves USD
Well, here we go again with the heavy task of having to comment on this delirious fantasy. Once again we have to reflect on this post-truth era cowboy film. Max Keiser predicting rises out of thin air and drawing far-fetched conclusions from it. Max talks about ups and downs. That’s fixed. The man is a walking indicator of Bitcoin sentiment. I call it the Max Index. The only indicator I know that has never given me a false signal.
A couple of weeks ago, I commented on Max’s statements about Buffett supposedly buying gold because of his disenchantment with the system. Then, I wrote something else about the gold market. But Max kept talking and his nonsense continued to circulate in the press. In fact, I wrote a special article on this subject, because the novel does not end.
Warren Buffet, one of the richest men in the world, is abandoning the dollar. What kind of madness is that? Warren has always said that he would rather have business and stocks than cash. He dislikes having a lot of cash in his hands, but he’s forced to keep a significant amount available to meet his insurance business policy payments. In addition, in Berkshire Hathaway’s portfolio, the finance sector is one of the most important. Berkshire Hathaway is practically Bitcoin Millionaire, Finance and several defensive stocks like Coca-Cola. What the hell is Max talking about? The man is delirious.
It seems we already have an answer to Satoshi Nakamoto’s Bitcoin mining pattern mystery
The mystery of Satoshi gets bigger as time goes by. Everything that is said about him generates more questions than answers. By now, Satoshi is a heavenly being and no one will believe anything that is said about him. All findings are actually small pieces of an infinite puzzle. Context is extremely relevant in these cases. And here much of the context is unknown. For example, many of us assume that Satoshi is a lone hero acting according to the noblest of principles. Then, in our imaginary, we see an old Japanese man alone in his home mining from his personal computer. But what if Satoshi is really a government organization or a criminal group? That would change everything.
I assume that one day the identity of Satoshi will be known. And, suddenly, he won’t be the wise old man we all hope for. It is likely to be a great disappointment. Someone of flesh and blood could never be as ideal as a myth. An eternal mystery is easy to idealize. It is something magical. And Satoshi today is the size of his mystery.