Arnold - what a weak case against Bitcoin and Saylor! Very unlike you. Where is the substance? I know plenty of honorable people who have settled with the SEC (a notorious bureaucratic bully). That he had like many other to settle with the SEC proves/indicates/suggests next to nothing when it comes to the case for a neutral, global, decentralized, censorship resistant new form of money.
I don't understand the idea that Bitcoin is a hedge against inflation. In theory it is if it stabilizes, but right now it's clearly a widely speculative asset. I might consider buying it as such, but not as a hedge against inflation or anything
You may be right. But a one year metric isn’t convincing. Bitcoin’s latest bull run kicked off as a reaction to the massive money printing in 2020. Still up against equities, gold etc,… since then. However, 2 years is also too short. Let’s see where it is in 5 years. My current bet (money where my mouth is) is that Bitcoin will have outperformed S&P, real estate and definitely the dollar 5 years from now. Beating inflation is a long term project.
He also wrote "The Mobile Wave" in 2012 where he predicted the dominance of Facebook, Amazon, Apple, Netflix, Google over the next decade and was dead on. So maybe
1. Sometimes he's right and sometimes he's wrong.
2. Don't hire him as an accountant
3. Don't judge an entire asset class by one person who's made a big bet on it.
actually i remember. i precisely remember this charlie rose interview 1 month before the bubble bursting https://charlierose.com/videos/5142
Arnold - what a weak case against Bitcoin and Saylor! Very unlike you. Where is the substance? I know plenty of honorable people who have settled with the SEC (a notorious bureaucratic bully). That he had like many other to settle with the SEC proves/indicates/suggests next to nothing when it comes to the case for a neutral, global, decentralized, censorship resistant new form of money.
So I looked and bitcoin is down 40% YTD.
I don't understand the idea that Bitcoin is a hedge against inflation. In theory it is if it stabilizes, but right now it's clearly a widely speculative asset. I might consider buying it as such, but not as a hedge against inflation or anything
You may be right. But a one year metric isn’t convincing. Bitcoin’s latest bull run kicked off as a reaction to the massive money printing in 2020. Still up against equities, gold etc,… since then. However, 2 years is also too short. Let’s see where it is in 5 years. My current bet (money where my mouth is) is that Bitcoin will have outperformed S&P, real estate and definitely the dollar 5 years from now. Beating inflation is a long term project.
He also wrote "The Mobile Wave" in 2012 where he predicted the dominance of Facebook, Amazon, Apple, Netflix, Google over the next decade and was dead on. So maybe
1. Sometimes he's right and sometimes he's wrong.
2. Don't hire him as an accountant
3. Don't judge an entire asset class by one person who's made a big bet on it.
Here is another proponent of Bitcoin who you may find more palatable. https://fidelityfda.prod.acquia-sites.com/sites/default/files/documents/bitcoin-first.pdf