BowTiedSats
Posts
May 9 2022

May 9 2022

Sats O'Clock
May 09, 2022

Wake Up! It's Sats O'Clock.

Another weekend and another dip (sigh).

Good morning. It's May 9, 2022.

The markets took some losses this weekend. Bitcoin is hovering around $33K at the time of writing.

The Feds raised rates by 50bps last week and the future outlook is pointing towards more increases.

Fed raises rates by half a percentage point — the biggest hike in two decades — to fight inflation

Wednesday's rate hike will push the federal funds rate to a range of 0.75%-1%.

https://www.cnbc.com/2022/05/04/fed-raises-rates-by-half-a-percentage-point-the-biggest-hike-in-two-decades-to-fight-inflation.html

There seems to be a lot of fear in the market but keeping Buffet's famous quote in mind, maybe this is a great buying opportunity for diamond hands and long term investors.

GBTC was listed on Robinhood this Friday. CEO Michael Sonnenshein is still looking forward to the Bitcoin spot ETF. It seems as if it is only a matter of time.

Meanwhile Senator Warren is upto her usual anti-Bitcoin shenanigans. She views Fidelity's plan of offering Bitcoin in 401k's as "risky and speculative".

Sen. Elizabeth Warren questions Fidelity’s ‘risky and speculative’ plan to offer bitcoin in 401(k)s

Warren and Sen. Tina Smith press Fidelity for details on how consumers' retirement accounts will be protected from theft, fraud and bitcoin's wild price swings.

https://www.marketwatch.com/story/sen-elizabeth-warren-questions-fidelitys-risky-and-speculative-plan-to-offer-bitcoin-in-401-k-s-11651798070

Do you really think it's right for a politician to decide what is best for your retirement?

In the last 24 hours, ~$100M worth of Bitcoin has been liquidated.

When will the shorts learn?

Here is a great breakdown of the relationship between Bitcoin and inflation.

Bitwise's Director of Research @dlawant wrote a great breakdown of bitcoin's relationship with inflation.
Enjoy!
— Pomp 🌪 (@APompliano)
5:58 PM • May 6, 2022

If you missed it...

Preston's macro overview with Lawrence Lepard was a fantastic listen. They combined all aspects of Bitcoin, energy, equities and gold.

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