This is the first time (I think! someone please provide a counterexample) that bitcoin has absolutely rallied while the rest of the economic universe teetered on the brink of financial calamity.
It makes complete sense: the Fed and the Treasury are being forced into expansionary policies in the midst of the worst inflation we've seen in fifty years.
There is truly no way out: raise rates and banks collapse because they hold long-term bonds with much lower rates that they can't liquidate without massive losses. Lower rates and print money, and hyperinflation consumes every crumb of economic output.
This is the perfect storm that bitcoin was created to address. It doesn't fix the problem, but it offers a life raft to anyone who cared enough to consider it with an open mind.
Bitcoin is still in its infancy, and we are living in historic times.
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