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New 1.9T US Stimulus Makes for an even strong BTC bull case (Patreon)

Published:
2021-03-07 05:12:07
Imported:
2022-03

Content

Although it was pretty much factored in, this is an epic moment in time for all Bitcoiners. I am now more confident than ever in the future of BTC. The FUD around the Digital Yuan is nothing to worry about. I canvassed some of the smartest folks on the planet even folks from China if they would like their reserve currency transactions to be digitally monitored by the Chinese Govt. There was an overwhelming reaction and even panic in some. 

In other good news - ETH has been on fire all day. EIP 1559 was positively received by F2Pool - go figure!  The burn will help reduce supply and that is bullish. My take is miners are miners and will be mercenaries whereever they go.  

Re TSLA - between the new FSD update, FSD subscription and Cyber Truck details forthcoming it all has to really boost TSLA. Big congrats to those who got more during this fire sale Friday.  It was amazing to see that both MSTR and TSLA bottomed at the EXACT SAME PRICE $540. I mean you cannot make this stuff up.  

Finally, the DOW and SPX and NASDAQ futures should bounce nicely tomorrow night into Monday morning.  Just some random thoughts on a Sat nite. 

  

Comments

Anonymous

Thanks James. We’re in crazy times for sure and the month isn’t even a week in.

Anonymous

Random thoughts are welcomed

Anonymous

I’m so used to crypto that I keep forgetting the the stock market isn’t open 24/7 lol

InvestAnswers
>>55085365

I just felt like reaching out and touching you all. I needed an outlet to express my excitement.

Anonymous

Was discussed in discord today that the new shares outstanding for MSTR are 9.59m. This changes the valuation. Was still a great discount on Friday but just not as juicy as originally thought based on Yahoo Finance reported shares outstanding of 7.62

InvestAnswers
>>55085422

I made a random musing video on that in December - a weekend where BTC exploded upwards and the markets were literally closed for 4 days. It was borderline criminal... :D

InvestAnswers
>>55085567

I just looked at market cap and the # of BTC they had and I assume MSTR had a 1.2B valuation. It was 300M arb oppty in my eyes. That trade netted me a huge gain. Remember, for many MSTR is their only on ramp. Also mutual funds that cannt buy BTC what can they buy??? da da MSTR! Hence the premium will be there. It is an easy on ramp and a great arbitration play when the market does not know math. Love it.

Anonymous

Are you thinking that the stimulus is bullish for BTC because of the strong correlation still between the stock market and BTC? If so, what’s your expectation for BTC when the stock market bubble bursts?

Anonymous

Have a great weekend!! I’m having a great one so far!

Anonymous

Thanks for reaching out to us. Always helps with managing the fear ! 👍

Anonymous

Thanks so much James for your commitment to paying it forward. We all appreciate time you are spending taking us on the ride! Keep up the awesome work!

Anonymous

Super appreciate your thoughts and insights, sir!

Anonymous

Those interested in the FSD beta update are being asked to email: earlyaccess@tesla.com and include your VIN and country. Fingers crossed. IA...thank you for your content. It’s so good to have your thoughts on current events.

Anonymous

Here we go. $51,000 and climbing....

Anonymous

Despite it doing well today, ETH still looks undervalued vs BTC. It’s been sitting at 0.033 over the past week, whereas when BTC was last at $54K it was up around 0.04.

Anonymous

Thanks James

Anonymous

Thank you James! Could you please share your thoughts about the financial future of the US and the rest of the world?

Anonymous

James, are you feeling more bullish overall with equities? Are you starting to see a bottom here, or are you still keeping a sizable amount of dry powder?

Anonymous

Loving the random thoughts!

InvestAnswers
>>55085683

The correlation between the S&P 500 and bitcoin is waning. Oh and again don't fight the Fed what that means is money will keep the market afloat. I think we had a correction and we should trade sideways or even upwards and select names from here. But the next two months could be bumpy. We need to get the 10yr under control

InvestAnswers
>>55091998

It sure is, Funny I read a report this morning that talked about the importance of the ETH developer base which is what I always talk about. ETH will be back above 2000 in a month or two.

InvestAnswers
>>55094998

That's a tough question. As you know first of all central banks are going to have problems. Second of all I see emerging stress between the US and China. Third I see a growing disparity between the haves and have nots i.e. those that hold bitcoin and those that don't. And I feel that's going to cause a lot of resentment.

InvestAnswers
>>55097091

I used up quite a bit with Friday purchases. I still technically have a lot of powder but it is in the form of margin. I can make it liquid fast by covering my shorts.

Anonymous

Just read this from Guy at Coin Bureau: " ✅ Bitcoin’s Black Swan You guys know that I am bullish on Bitcoin. It would not make up such a large proportion of my portfolio if I was not. However, it is still important to know of some of the black swan risks that exist. We cannot bury our head in the sand and we have to be vigilant of these black swan risks. One of the most prominent for me still has to be the Tether question. Yes, the FUD around the NYAG lawsuit appears to be out of the way, but there is another Tether related risk that needs to be considered. That is the potential for a Chinese government ban of Tether. This is not too unrealistic to consider given that the People’s Bank of China is moving full steam ahead to their own CBDC - the digital Yuan. Once they do launch this they are going to want to limit the use of any sort of digital currency that is not their own. Indeed, they started the process a few years ago when they banned the conversion of Yuan into Bitcoin on any centralised exchanges. However, they were much more lax when it came to Tether. In my recent video on Bitcoin bans, I pointed to the fact that the fiat <> Bitcoin ban in China was not that effective precisely because Chinese citizens resorted to OTC trading. One of the primary currencies that they used in order to buy this was of course USDT. You can see the evolution of Bitcoin pairings in this chart by Messari. As you can see in the chart, CNY trading fell to almost 0 as it was replaced by USDT. USDT trading went from almost nothing in 2017 to over 70-80% at current levels. Then you also have blockchain analytics firms like Chainalysis which examined the East Asian origins of most of these stablecoin funds. So, the question is: what could happen if China were to outlaw the use of Tether? Well, if there was an immediate panic to sell USDT then it could lead to a situation where the USDT / Bitcoin pair could see a precipitous decline. It could essentially “suck” the Tether liquidity out of international exchanges as Chinese citizens stop using it. As we have seen, USDT liquidity has been a driving force behind much of the Bitcoin purchases and it still continues to this day. This is not only a concern that I hold. There are many market participants that point to the influence that stablecoin demand and use has on the Bitcoin markets. JP Morgan recently released a report that there would be “a severe liquidity shock to the broader cryptocurrency market” if issues arose that affected the “willingness or ability of both domestic and foreign investors to use Tether.” How likely is a ban though? Well, there is currently a draft law by the PBoC that would be legalising the Digital Yuan while simultaneously making other digital currencies illegal. It’s only in the draft phase and it will be some time before we see the digital yuan fully rolled out. I also imagine that there are some pretty high powered Chinese leaders who use USDT personally so I don’t know how palatable a ban is. However, it is a risk that I wanted to mention. Be sure to keep your ears to the ground when it comes to laws around stablecoins in China."

InvestAnswers
>>55108446

thanks for sharing, Black Swan could always happen and we all need to be vigilant. I always like to think of it in simple terms. 1% chance BTC goes to Zero. But this was also interesting today https://decrypt.co/60461/chinese-app-maker-meitu-buys-40m-in-btc-and-eth

Anonymous

fire 🔥analysis as usual, love it

Anonymous

We just had a black swan event. A global pandemic and BTC is trading highest in its history. Tether etc is no joke but can it be compared to the world being shut down for over a year and the devastating economic impacts that has had?

Anonymous

Agree, because the money has got to go somewhere, I just wonder if or when the real estate market goes, does the capital flow into crypto...

Anonymous

Every time I have a few doubts you reassure me!

Anonymous

If mstr goes up from here then it has formed a nice bull flag, otherwise we are looking at a double bottom down near 540 where most of the support is;-)