So it turns out that Bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara Bitcoin...
QUIET PART OUT LOUD: they're rightly worried abt Hong Kong via USD stablecoins becoming a hub for USD clearing that's outside US's reach, while the US dithers. But it's not just HK. Obvious fast path for Milei to dollarize Argentina is via USD stablecoins.
https://t.co/4iFUUDrbLq
@maxkeiser Storing value is the utility. People from countries with unstable currencies understand Bitcoin naturally. Sadly most people in US dollar dominated economy don’t yet see the downfall of US dollar