I think a lot of $ZEC holders have felt this way over the past week. Some perspective in case it’s useful:
It took BTC ~350 days to go from $1k to ~$20k in 2017.
$ZEC crossed $1k only 41 days ago.
The world and crypto are a lot more complicated than in 2017, in good ways and bad.
So it's gonna be bumpy. Buckle up and let’s enjoy the ride (or at least try to).
If yes, then stocks, gold, and Bitcoin will SOAR throughout 2027.
If no, then we may already be in inning one of the likely pending secular bear market.
JUST IN: 80-YEAR-OLD INVESTING LEGEND PETER BRANDT JUST SAID #BITCOIN IS GOING TO $600,000 THIS CYCLE
"BY THE HALVING, BTC WILL BE OVER $300,000"
"WE HAVE A GOOD CHANCE OF HITTING $500,000"
"WE WILL SEE A BULL MARKET THAT WILL EXTEND OUT UNTIL LATE 2029"
INSANELY BULLISH 🚀
Source: @CoinTelegraph
The Fed is printing money to buy US Treasury bills... more than during Covid.
- Covid: ~$320B
- Last 9 months: ~$355B
Everyone is talking about the Fed hike... no one is talking about Warsh printing money Covid-style to buy UST bills.
At the same time, Bessent is issuing more UST bills to buy back US long-term debt.
In other words, the Treasury buyback is nothing else than QE in disguise.
We don't own enough hard assets for what's coming.
BlackRock just dropped a research paper titled "The Machine-Native Economy": it argues AI is a structural, underappreciated catalyst for crypto.
Here is the simple chain reaction:
1. AI needs machine cash: Traditional rails like ACH are too slow for high-frequency bots. Instead, compliance (KYC/KYA) is verified off-chain, allowing agents to use stablecoins for instant, on-chain micro-payments.
2. Stablecoins run on L1s and L2s: Every time a bot transacts, the underlying blockchain gets paid a fee. Millions of bots spending money means blockchains making bank from raw blockspace demand.
3. Compute will be tokenized: Just like real estate or gold, computer power (GPUs) will be traded on-chain so bots can buy cloud processing power on the fly.
4. AI needs a savings account: BlackRock cites research showing AI models naturally prefer Bitcoin as a long-term storage.
NEW: The average Bitcoin ETF Holder is back above water for the first time since January. The rally this morning has bitcoin:native above our estimated ETF cost basis of $81,722 per coin. h/t @EricBalchunas
Thots on the Fed hike:
Hiking with elevated levels of govt debt it is stimulative. Banks get paid more on their reserves, and rentiers get paid more on their T-bills. The net effect is more consumption, especially of financial assets.
Even though the Fed stopped RMP purchases in mid-Aug, if you add the banking balance sheet growth, the total of Fed + Banks' assets are growing which creates money.
The net effect is an increase of the quantity of money even as its price increases. This is why financial assets will continue to rise.
A year ago, crypto had one narrative: ETF flows.
Now there are at least five:
1) Debasement >> BTC
2) Privacy >> ZEC
3) Tokenization >> ETH, SOL, LINK, HOOD, CRCL (and others)
4) Revenue >> HYPE, PUMP, UNI (and others).
5) Attention >> HOOD, PUMP, PONS
The breadth is bullish.