Weekly Recap - 20.11.2023

🧠Quote(s) of the week:

“Debt-based fiat currency system… Steal from the future for better living today.
Equity/saving-based Bitcoin monetary system… Build for the future for better lives for our children and grandchildren.
Which future will you choose?
I remain convinced that Bitcoin is better money for a better world.” – Dr. Jeff Ross

“Fear is “unfortunately” an effective way to consolidate power. Hope is its antidote – and it’s much stronger. because when people see themselves as part of a more hopeful future, they realize a sense of agency in creating it. Bitcoin” – Jeff Booth

🧡Bitcoin news:

➡️At the time, I am writing this blog post Argentina’s presidential election is underway. Argentina could elect a Pro-Bitcoin President and it’s poetic that Bitcoin is approaching yet another ATH in the Peso! Argentina is voting with its money.

It’s quite astonishing to think that by the year 2023, a country as significant as Argentina (a G20 nation) now has a President who is a Bitcoiner.

Bitcoin has become so relevant that Presidential Candidates have no choice but to have a stance on it.

Gradually, then suddenly.

➡️For the first time, more than 70% of all Bitcoin has been HODLed for more than 1 year. Watch the animation made by Wicked here:

➡️ “64% of institutional investors currently invested in bitcoin and shitcoins plan to increase their exposure to crypto within the next three years, according to a Coinbase survey” – Bitcoin News

➡️Bitcoin halving is in ca. 150 days.

➡️Bitcoin held by addresses owning over 1,000 BTC hit a new yearly high this week, reaching 7.67 million Bitcoin.

➡️Bitcoins hashrate is exploding!
No clue if this is due to the ordinal’s madness or if a nation-state is entering the game.

➡️Across 6 critical metrics: Bitcoin is the world’s best ESG asset (It’s also one of the most misunderstood and prematurely evaluated).
source 
Remember the cry for PoS or climate hysteria surrounding Bitcoin mining? The truth will always ultimately shine through the dark clouds of misinformation. (Hello, Alex de Vries – GreenpeaceUSA). Many have tried to discredit Bitcoin on environmental grounds, but time has proven (as expected) wrong. Bitcoin is the best tech we have for green initiatives.

I can’t get over the fact that Bitcoin mining allows anyone, anywhere in the world, to turn electricity into money. Add on that, inventing a peaceful internet protocol that aligns human incentives to reduce methane emissions. If that isn’t revolutionizing, nothing is.

More on this topic…

➡️ Bitcoin miner, Stronghold, develops a cutting-edge carbon-negative, capture system.
How Felipe?
They’re blowing air through ash which captures carbon out of the air. Then they spread the ash on top of the area they took the waste coal from and grow ground cover.

Source

Madness! I quote Margot Paez on this: “Bitcoin cleans up coal, stores CO2, and freedom money all rolled into one? Maybe not just a dream”

Bitcoin will innovate the conservation of energy game like nothing we could’ve ever imagined.

➡️ I think the most important thing I read last week was that an OpenAi agenda paid an LN invoice.
Basically: ChatGPT + Lightning Network…programs paying programs, sweet!
Bitcoin is the only money AI can utilize. Magic Internet Money. AI now has a platform on which to engage in trade and commerce.
“If you don’t understand how revolutionary it is for AI to have access to a permissionless global finance system” Well start studying Bitcoin.

➡️Check out the CBDC tracker by the Human Rights Foundation. @gladstein
The Tracker will go online for the first time, providing the public with a resource to examine the progress and risks of CBDC implementation worldwide.
It shows you information on each country’s central bank digital currency project.

HRF believes CBDCs pose a significant threat to human rights work worldwide, especially for people living under tyranny. More than 100 countries are researching CBDCs, while more than 20 have pilots, and a handful of governments have already launched some kind of retail product.
Source

Tracker: https://cbdchumanrights.org/home

Absolutely a must-have tool in your toolkit and an invaluable resource to share with friends and family!
Digital identity and CBDC pose a severe risk to human rights and have the potential to limit individual freedom.

➡️Boyaa, a Hong Kong-based developer of online card and board games, is planning to acquire $45 million worth of Bitcoin to add to its balance sheet This move would position Boyaa as the 12th largest holder of Bitcoin among corporate treasuries.

➡️ Commerzbank claims the title of Germany’s first full-service bank to secure a license for establishing a custody platform dedicated to Bitcoin and digital assets.

➡️ Galaxy Digital estimates $80 Billion to flow into spot Bitcoin ETF within 3 years of launch:
Year 1 – $14 Billion
Year 2 – $27 Billion
Year 3 – $39 Billion

➡️ Billionaire Bill Miller: “I haven’t heard a good argument as to why you shouldn’t have 1% of your liquid net worth in Bitcoin.”

💸Traditional Finance / Macro:

👉🏽Week ahead: In the US, we have the FOMC minutes, durable goods orders, and the Thanksgiving holiday. In Europe, it’s the UK Autumn budget, European flash PMIs, and the Riksbank meeting. In Asia, we have the Japan, Singapore, and Malaysia CPI, Indonesia policy rate decision, and the RBA minutes.

🏦Banks:
👉🏽 no news

🌏Macro/Geopolitics:

👉🏽US Headline inflation dropped to 3.2% in October, lower than expected. Core CPI dropped to 4.0%, also lower than expected.
This was expected. Nobody could have foreseen that more money chasing the same amount of goods could have increased the price of goods. Now that M2 is shrinking (The Fed/M2 is behind inflation) CPI is getting lower and lower. I am shocked, NOT!
What’s next? Deflation in the US is very possible.

CPI has made some progress catching up to real-world rents recently. Consumers now face rents 9.5% higher than what CPI implies, down from a peak distortion of over 15%.

“Lower rates of inflation in Fuel Oil, Gas Utilities, Used Cars, Gasoline, Medical Care, New Cars, Food at Home, Electricity, Apparel, and Food away from Home. Shelter and Transportation are the only major components that have a higher inflation rate today than June 2022.” – Charlie Bilello

👉🏽Talking about rates: “10-year note yield falls sharply, to 4.49%, after CPI inflation hits 3.2% in October. The 10-year note yield is now down 20 basis points in 24 hours and 15 basis points since CPI was released. However, core inflation still stands at 4.0% which is DOUBLE the Fed’s long-term target. So far, inflation has gone from 9%+ to close to 3% without a major spike in unemployment. The question becomes if the Fed can get 2% inflation with a similar outcome.” – TKL

It seems like the Fed is done with raising rates.

👉🏽 “Annualized interest expense on US debt is now at $1.027 trillion and is quickly rising. Just 2 years ago, annual interest expense on US debt was at $450 billion. That’s a 128% jump in interest expense and we haven’t even entered a recession yet. Since 2020, total US debt is up ~$10 trillion and is set to hit $35 trillion in 2024. That’s a ~45% jump in US debt and the Fed is still calling for a “soft landing.” – TKL

Now let’s have a look at the ‘soft landing’ stories on Bloomberg on the 15th of November.

The only thing I know is that history shows us that when we have soft landing hope we will get Hard Landing realities. This happened in 2000-2001, 2008 -2009
When all the experts and forecasts agree, most of the time something else is going to happen. The media reports a narrative. They are trying to get the soft landing story out as the Election year 92024) is coming up. This is probably the most bearish thing that’s come across my timeline. Why? History!

👉🏽RAY DALIO: “The US is at an inflection point concerning its national debt as it currently borrows money to cover its debt payments.”

👉🏽”Auto loan and credit card interest rates just hit a new record high. Average interest rates:
– Credit Card: 25%
– Used Cars: 14%
– New Cars: 10%
Meanwhile, we have record levels of debt:
– Total Household Debt: $17.3 trillion
– Auto Loans: $1.6 trillion
– Credit Card Debt: $1.1 trillion
The worst part? Interest payments on $1.6 trillion of student loans restarted last month. If you want to buy a new home, or car and pay off student loans, it’ll cost you ~$4,250 PER MONTH on average.” – TKL

👉🏽The European real estate market is experiencing a downturn. Here’s a comparison of price changes between Q2 2022 and Q2 2023, adjusted for inflation:
“Corrected for inflation (as it should), YOY real estate is down bad in Europe: FR-5%, NL -10%, GER -15%, SWE -20%.” -Tuur Demeester

I have said in 2021 and I will repeat it again now. Just wait a couple of years and one Bitcoin will buy you an entire building.

👉🏽”An unprecedented $8.2T of US government debt will be maturing in the next 12 months, or 1/3 of the total Treasuries outstanding. That is 3.5x more than what was net issued so far this year. Keep in mind that the fiscal deficit next year would also require at least another $2T in addition to the $8.2T that needs to be re-issued.” – Tavi Costa
The Everything bubble continues as long as fiscal can keep extending debt regardless of the Fed interest rate policy. More than 3x of the “COVID” printing is coming. Hello, debt spiral!

👉🏽 Presidential candidate Nikki Haley says every person on social media should be verified by their name because of “national security.”

My savings account: Bitcoin

The tool I recommend for setting up a Bitcoin savings plan: The Relai app is especially suited for beginners or people that want to invest in Bitcoin with an automated investment plan once a week or monthly. Hence a DCA, Dollar cost Average Strategy.

For new users, the app can be downloaded from all Play Stores. The iOS version is only available in Swiss, Austrian, German, and Italian App Stores. If you set up a Bitcoin Savings Plan (weekly/monthly) you can use my code CRYPTOFRIDAY and your fees will be reduced by 0.5%!

Check out my tutorial post (Instagram) & video (Youtube) for more info. ⠀

Get your Bitcoin out of exchanges. Save them on a hardware wallet, run your own node…be your own bank. Not your keys, not your coins. It’s that simple. ⠀⠀⠀⠀⠀⠀⠀⠀

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