"In Human History, No Single Asset Has Come Under Such Coordinated Assault By Global Institutions" | WHAT REALLY HAPPENED

"In Human History, No Single Asset Has Come Under Such Coordinated Assault By Global Institutions"

Now, the Church has not exactly draped itself in glory when it comes to embracing the world’s most important scientific advances. Just ask Galileo who died in jail, then waited 300yrs for an apology from the Vatican.

But it wasn’t just the Pope. You see, Elon’s tweet that criticized bitcoin mining’s use of fossil fuel spurred every ageing Luddite who has been consistently wrong about bitcoin’s ascent to pen yet another scathing op-ed.

That’s natural, of course. Critics are always loudest in the hole. But this time they were crowded together with Fed officials, the IRS, US Treasury and the Chinese Communist Party. Beijing seemed to announce a new law to outlaw bitcoin mining every time the price staged an intra-day bounce.

In human history, no single asset has come under such coordinated assault by the very global institutions that perpetually inflate asset prices in the name of securing prosperity. And yet, through it all, digital asset trading carried on, obliterating the leveraged longs, wiping out the weak.

For the first time in decades, we saw the ferocious beauty of truly free markets operating at scale. Efficiently. Ruthlessly. These assets inhabit a world without a buyer of last resort to bail out its bankers. It was a remarkable display of antifragility.

To appreciate it fully, simply imagine how today’s equity, bond and credit markets would withstand a withdrawal of government support, let alone a full-frontal assault.

It is this independence and resiliency that underpins the longer-term attractiveness of digital assets. But like all powerful new technologies, their promise is poorly understood by most pundits.

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