Bitcoin & Busted Banks

I recently wrote on my Substack column about why the banks are failing (in simple terms). This isn’t a pitch for subscribers (although I love new subs), it’s my Bitcoin specific thoughts as it relates to the banking crisis.

I’m the head of asset mgmt for my firm. We manage just under $3b in stocks/bonds. That doesn’t make my take correct, but perhaps it does make my opinion interesting to some.

What we are seeing now is what I call phase 2 of the late stage fiat paradigm. Phase 1 was TARP and the bailouts in 2008/09 followed by zero interest rate policy. Now, for reasons I discuss in detail on my Substack, we are stuck. The attempt to raise rates and reduce the money supply to fight inflation is collapsing the banking sector. The Fed can ease up and accept inflation, or collapse it and resume infinite money printing.

Both of these outcomes are exactly the type of problems btc solves. We’re witnessing the decline of fiat systems before our eyes and btc is scaling and winning adoption just in time.

I think this process will take 10-15 more years, but I expect and phenomenal bull market in btc this cycle.

Possible we get a liquidity driven sell off in btc if banks really get crushed, but I think it’ll be short lived and represent a last chance to get “cheap” btc.

Ps. If you care to read my analysis or the dollar, or the banking crisis search for “TRADE STREET” on Substack.