This is my first letter to my paid subscribers. I always wanted to give you more than just my weekly free newsletters, but I couldn’t figure out what would be worth enough to compensate for your generous contribution. With your funding you’re helping me to educate myself in various fields (now I’m learning Spanish and Austrian economics) and hopefully soon I can add other features (like podcasts) to the newsletter too.
I thought as a first step from now on I would make some monthly summarization about the Bitcoin ecosystem and Global Economics. How and in what directions I see the World events are flowing. Therefor here is my disclaimer:
All writings expressed by me are solely my opinion. You should not treat any opinion expressed as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of my opinion in newsletters for informational purposes only.
This is how I saw the things that happened in November…
Bitcoin
While the UK banks are doing everything they can to stop flee money into Bitcoin, others are getting more and more open to it. Why are the UK Banks so harsh with Bitcoin? I don’t think that behind the story the banks are, I think the BoE or the government is. Because with the latest USD bullrun (when in just a week the GBPUSD fell from ~1.16 to ~1.04) and the 10y and 30y treasuries skyrocketed the UK pension system nearly broke. Literally they had only hours if the BoE would not jump in as a treasury buyer and with it stops the QT. They need to do everything to stop their citizens from reaching Bitcoin, the ultimate safe haven for savings.
Apollo and Fidelity, two big giants are jumping it to serve institutional and retail investors with Bitcoin services. These two companies are reaching literally over $10 trillion of wealth which can be easily onboarded to Bitcoin in case a new bull run starts. In case you wonder how Bitcoin will reach a six digit price then with only just these two companies' assets it can be easily reached.
In Mexico with the Mercado Libre wallet millions can convert their local fiat currency into Bitcoin with just a few clicks. I think Mexico can be the next “El Salvador” because in july senator Indira Kempis introduced a bill to make Bitcoin a legal tender. Definitely interesting months will come.