1st cycle: you lose money chasing pumps, but you learn.
2nd cycle: you make millions, but you don’t take profit.
3rd cycle: you finally make enough to retire.
You need 2 or 3 bull markets to make life changing money in crypto.
I'm a Reserve Manager at a central bank.
My job is buying gold.
297 tons this year.
Quietly.
While we print money.
Loudly.
Gold hit $5,000 an ounce yesterday.
We've been buying since it was $1,800.
That's called "reserve diversification."
Diversification means we don't trust our own currency.
But we can't say that.
So we say "diversification."
The Governor went on television last month.
He said inflation is "anchored."
Anchored means 6%.
Used to mean 2%.
We moved the anchor.
That's monetary policy.
He said the currency is "sound."
Sound means losing 20% of its value.
Per year.
But it sounds sound.
That's what matters.
We bought 45 tons in November.
Poland bought 95 tons.
Brazil bought 43.
China reports 1 ton.
China is lying.
We all know.
Nobody says it.
95% of central banks plan to buy more gold next year.
That's a survey.
We surveyed ourselves.
On whether we trust ourselves.
We don't.
We trust gold.
Citizens ask why prices keep rising.
We say "supply chains."
We say "external factors."
We don't say "we printed 40% of all money in existence since 2020."
That's not external.
That's us.
The Finance Minister asked if gold is a hedge against our own policies.
I said "gold is a strategic reserve asset."
Strategic means yes.
I just can't say yes.
Gold is $5,000 now.
Our currency buys less every day.
Our gold buys more.
That's the strategy.
For us.
Not for you.
You get the currency.
We get the gold.
That's central banking.
Milestone loading: U.S. spot Bitcoin ETFs are closing in on $1 TRILLION in volume in less than 18 months.
From $100B in March to nearly $1T now, they’re trading alongside the likes of $VOO and $QQQ.
Wall Street hasn’t just warmed up to Bitcoin… it can’t get enough.
never seen such a divergence between institutional vs retail sentiment
every institution I know is max bullish on defi yet retail sentiment is rock bottom
related: most institutions i’ve chatted w/ don’t care about memes & consider it a fad akin to early 2000’s pennystock boom