IRAN JUST BECAME THE BIGGEST BITCOIN BUYER ON EARTH
Iran charges $2M in Bitcoin per ship to cross Hormuz
At $72,000 per $BTC, each ship = 27.7 BTC
~130 ships cross daily
For context:
Miners produce 450 $BTC/day
Iran earns 3,601 $BTC/day
That's 8x the entire daily mining supply
MicroStrategy took 4 years to stack 500K $BTC
Iran could do it in 5 months... with a toll booth
NEW: 🇸🇪 Sweden's parliament will explore benefits of adopting Bitcoin in September. 🔥
Bitcoin advocates @satmojoe & @JAN3com have been invited by @DennisDioukarev 👀
🇸🇪 Sweden is paying attention.
This September, @SatmoJoe and JAN3 will present Bitcoin’s benefits to the Swedish Parliament at the invitation of MP @DennisDioukarev.
This marks a major step forward for Europe’s #Bitcoin conversation.
In 10 years, the US government will be $55-60 trillion in debt (which will be 7-7.5 times government revenue) because there will be $25-30 trillion of additional borrowing. That amounts to about $425,000 of debt per American family.
When I calculate the supply and demand for this debt, I don’t see enough buyers to buy the debt the US needs to sell, which will cause big problems.
We can avoid the worst-case scenario, but we need to act now.
To learn more, I encourage you to read my new book, How Countries Go Broke: The Big Cycle.
#raydalio #principles #economics #debt
When deciding if "it's different this time" or not, it's important to have the right baseline compare to.
This fiscal dominance we're in is indeed different than monetary dominance. But it's not that different than the last time we were in fiscal dominance (a long time ago).