Shouldn't we be happy now?

There’s much to discuss and unpack this week in the global markets.

Bitcoin has rallied anew as a new currency crisis in Hong Kong rages, global trade tensions soar, and debt spending continues unabated. If feels like we’re at the beginning of the end, and I got less than reassuring answers from my crypto friends this weekend when I pondered:

“From here on out it seems every bitcoin pump will be fueled by something burning somewhere else in the world. Kinda shitty.”

The general response, “yep.”

This is the type of uneasiness that many of us felt back in 2009 during the financial crisis, 2011 during the original “debt sequester” and US credit downgrade, the Cyprus bank bail-ins and various Euro debt crises, Brexit, etc.

But now at least we have a winning horse to bet on!

That was cool for the past few years of bootstrapping bitcoin into relevance. But as we (if we?) go from $10k to $100k bitcoin, it seems that most everything that will be good for the island of misfit toys that is bitcoinland will prove bad for nearly everyone else.

The question we've been asking ourselves is where will bitcoinland ultimately live? Are we at the earliest stages of a “De-Americanization” in crypto? Maybe even in broader financial markets? Is the real future in Asia?

It’s the subject of the first segment we’re working on with Nathaniel Whittemore as part of our new Monday “Narrative Watch” segment.

-TBI

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