BadEconomics: Putting $400M of Bitcoin on your company balance sheet
Like most posts critical of Bitcoin it ignores that<p><pre><code>    - Bitcoin becomes less volatile over time
    - Bitcoin was less volatile than TLSA, AMZN or AAPL in 2020 (3-month realised volatility) [0]
    - Bitcoin becomes less risky over time (since despite increased incentives to &quot;hack&quot; it, no exploits happened)
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It also repeats typical nocoiner fallacies like &quot;it has no intrinsic value&quot; and &quot;gold is used for jewelry&quot;, ignoring that the ability to independently verify the money supply and being able to transfer money across political boundaries without censorship is probably the most important intrinsic value one could hope for in a MoE&#x2F;SoV.<p>New in this post was the author&#x27;s stance to trust the Fed to keep inflation predictable:<p><pre><code>   &quot;as long as the Fed isn’t run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds&quot;

   &quot;well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate&quot;
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However, the Fed increased M1 money supply by ~20% just in the 2 months following that blog post and by ~70% in the total of 2020 - an increase unprecedented in the history of the US dollar. 2 of the 3 dollars in your pocket have been created out of thin air in 2020.<p>Believing that inflation rates in the next years won&#x27;t spike as a result requires an amount of trust even more artificially inflated than the USD today.<p>[0]: Daily %-change of TSLA,BTC,NFLX,AAPL,AMZN: <a href="https:&#x2F;&#x2F;imgur.com&#x2F;a&#x2F;mE7bSI4" rel="nofollow">https:&#x2F;&#x2F;imgur.com&#x2F;a&#x2F;mE7bSI4</a> (TSLA is green)