Just closed out my ETH/BTC short. It was mainly meant as a hedge in case of a big Bitcoin selloff, with the thought that ETH would crash harder. I probably broke even on the trade, having had to pay margin interest for about 6 months.
Fancy bookstore in medium size European city. The “Economics” section is wedged in between “diversity” and “ecology” and consists of 50% hardcore Marxist titles. NOT GOOD. Hopefully young folks are watching BitcoinTok instead.
Arthur Hayes spitting truth: “But at the end of the day, if you're thinking about why now, why did BlackRock get in their ETF approval in six months and the Winkle Clowns couldn't get one in 10 years? Right? Live in New York. They're both billionaires, both very rich. Why weren't they given one and BlackRock was given one in six months? Well, at the end of the day, you want the same financial institutions to control the wealth that can ultimately be appropriated by the government at the flick of a switch. BlackRock is just another arm of the U.S. government, just the same as any other large Chinese asset managers in the arm of the Chinese government.”
