The rise of Bitcoin reflects the decline of the U.S?

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The rise of Bitcoin reflects the decline of the U.S?

 

About 100 years ago, there was a kind of bubble asset that fluctuated sharply during 10 years. Those who hold it will lose their money at five different points in time. At many other points in time, they either made big fortunes or watched hyperinflation destroy the value of their assets.

The asset I am talking about is gold denominated in Weimar Republic Mark. If this reminds you of bitcoin, then you are not the only one who thinks so. In his briefing “Tree Rings,” analyst Luke Gromen combed through the striking similarities between the price volatility of gold in Weimar Germany and today’s Bitcoin. His conclusion? Bitcoin is not so much a bubble as it is “the last functioning fire alarm”, warning us that there will be some very significant geopolitical changes in the future.


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