Why Bitcoin Is A CDS On The Fed

[The_Krakenite]

The latest consumer price index (CPI) print came out at a shocking 9.1% (9.8% in cities), and many speculators expected bitcoin’s price to “moon.” What happened was the opposite and bitcoin’s price action correlated with other risk assets. Many threw an expected tantrum and asked why? “I thought BTC was a hedge against inflation … when moon?”

https://www.zerohedge.com/crypto/why-bitcoin-cds-fed

 

[JackMorgan]

BTC is a fetish

 

[MacBookProHo]

BTC is a fetish

BTC is not a fetish....the Fetish is Greed.
People see a past, hindsight, chart that sky rocketed.....and they WANT thAT. $$$$ Eyes with sunglasses and eyeglasses turned upside down,
They want to buy nice watches, shoes, cars, homes, plastic surgeries, high-end dildos and toys,

 

[Trader Curt]

BTC is not a fetish....the Fetish is Greed.
People see a past, hindsight, chart that sky rocketed.....and they WANT thAT. $$$$ Eyes with sunglasses and eyeglasses turned upside down,
They want to buy nice watches, shoes, cars, homes, plastic surgeries, high-end dildos and toys,

Just stop.

Now

 

[nooby_mcnoob]

bitcoin is useless eth has value

 

[Specterx]

If Bitcoin is fundamentally a CDS on the Fed, that's pretty bad news for hodlers. Very, very, very unlikely that those CDS will ever "pay out" and Bitcoin accordingly should be priced at extremely low levels.

 

[johnarb]

https://twitter.com/x/status/1546820496498368513

Bitcoin is undervalued. The circulating supply is low if used as a CDS on the Fed, ~4M BTC's are lost forever out of the 19M circulating

It's also not limited to being a CDS for the US, any G7 country default would do

Bitcoin as CDS is only one function


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Bitcoin in 2013

https://theconversation.com/is-the-cyprus-crisis-a-boon-for-bitcoin-13081

 

[johnarb]

$400k/btc soon

https://twitter.com/x/status/1553488996851924992

 

[Good1]

Talks about BTC as a CDS